MEP Mairead McGuinness from the Irish Party Fine Gael has been appointed commissioner for financial services, stability and capital markets union as Ireland loses the key trade portfolio following the resignation of Phil Hogan, a fellow Fine Gael polititian. At a press briefing on Tuesday this week, the president from the European Commission Ursula von der
Every year companies hold mandatory annual general meetings (AGMs) where management and directors generally present an annual report containing information for interested shareholders about the company’s performance and strategy, allowing shareholders to vote on company issues as well as the selection of the company’s board of directors. The Covid-19 pandemic has had a significant impact
Asset managers are urging Brussels to delay implementation of its landmark sustainable investing rules. The resistance from the investment industry shows the struggle and complexity between policymakers´ambitions to push for greener finances and the harsh reality of implementing a new financial system. The rules are expected to come into force in March 2021, a deadline
The events unfolding during the first half of 2020 have shifted the interest of investors, issuers and corporate attitudes towards investments with a clear take on environmental, social and governance aspects. This comes as an attempt by participants and bond issuers alike to better respond to the COVID-19 crisis, translating into a surge in sustainable
The European Central Bank (ECB) extended its recommendation for European banks to withhold the payment of dividends until, at least, 1 January 2021. This might seem like a logical step in the middle of one of the biggest crisis of the century, in an attempt to keep the force of financial establishments expected to absorb
According to deVere Group, a financial services firm, nearly 60% of its clients seeking to include ESG investments in their portfolios believe sustainable funds offer financial protection in times of uncertainty. […] Chief executive Nigel Green said there’s been a “massive” surge from clients looking for ESG investments this year, “The global public health crisis has
The crisis- and Brexit-laden context have given the project new arguments to be on the European agenda. […] This is the second try for the Capital Markets Union (CMU). Europe had launched this project five years ago with the idea of supporting the financing of the economy via the capital markets. […] There is now
On 1 July 2020, Germany took over the Presidency of the Council of the European Union from Croatia and published the presidency programme for the next six months, including several aspects related to financial services, highlighting “a sustainable financial market architecture, stable financial policy and fair taxation”. With regards to taxation the German Presidency is
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published the new list of members of its Securities and Markets Stakeholder Group (SMSG). The selected individuals begin a four-year term on 1 July 2020. The SMSG will provide ESMA with advice on its policy work and must be consulted on technical
After Herz, a car-rental company based in Florida, filed for bankruptcy in May 2019, some bankers “jokingly” said that they “hope the company would sell a few hundred million worth of stock.” Unfortunately, it seems that this fit of sarcasm is slowly becoming a reality after judge Mary Walmarth ruled a bankruptcy court in favour of Herz, giving