National bank supervisors are transferring some of their key tasks to the European Central Bank (ECB), which as of today (November 4) effectively assumes full responsibility as the Single Supervisor. Along with the Single Resolution Fund, the Single Supervisory Mechanism (SSM) is one of the main building blocks of the Banking Union (see picture below).
On September 26, ESMA launched a consultation on delegated acts required by the UCITS V Directive. Following the adoption by the European Parliament of the UCITS V Directive text, ESMA received a provisional request for technical advice from the European Commission regarding certain delegated acts foreseen by the UCITS V Directive provisions. Feedback will have to be provided to
Sans même prendre en compte l’inflation, les Belges font dorénavant face à des rendements négatifs sur leurs épargnes en raison des taux d’intérêt très bas et des frais bancaires élevés. Selon de récents calculs du quotidien belge "L’Echo", cette situation a mené à des taux d’intérêt négatifs compris entre -0,02% et -1,60%. Les quatre plus grandes banques du pays – BNP Paribas Fortis, Belfius, KBC et ING Belgique qui ensembles représentent environ 70% du marché belge de l’épargne – offrent des taux d’intérêt historiquement bas tout en maintenant les frais bancaires très élevés, ainsi soumettant leurs clients à des taux d’intérêt négatifs. Les
The European Securities and Markets Authority (ESMA) made the following consultations available on their website: ESMA’s Securities and Markets Stakeholder Group’s (SMSG) reply to ESMA’s Discussion Paper on Market Abuse Regulation: “ESMA’s policy orientations on possible implementing measures under the Market Abuse Regulation”. Please find more information here. The SMSG’s on Alternative Performance Measures – APM. Please read more here.
In 2013 InterContinentalExchange bought NYSE Euronext from the New York Stock Exchange and now announced that it will sell as much as 60% of its stake in the exchange operator of the Paris, Amsterdam, Brussels and Lisbon exchanges. The transaction is expected to raise as much as 1.16 billion euros. A hard core of institutional shareholders, including ABN Amro
Guillaume Prache, Managing Director at BETTER FINANCE, is honoured to have been appointed to the French Comité consultatif du secteur financier (CCSF). The CCSF – or Advisory Committee for the Financial Sector – is a French government body responsible for studying issues related to the relationship between on the one hand, credit institutions, payment institutions, investment firms and insurance companies and other hand, their customers. The CCSF is responsible for proposing appropriate measures in this
More warnings on bond funds have arisen now that some advisers are recommending investors who hold bonds to consider switching over to other assets or at least to flexible fixed income funds, before an expected rise in interest rates. Taking into account the UK’s scenario, many economists believe now that the improving economic outlook in the UK may very well involve a rise in interest
EuroFinUse invites you to the Conference on the BETTER FINANCE MANIFESTO which will take place at the European Parliament on March 28. Whereas there are many challenges ahead, few are as acute as dealing with the fallout of the financial crisis. In order to shore up the real economy, protect savers and investors, concentrate on long term
In a letter of protest to the EU’s Greek Presidency, the Economic and Monetary Affairs Committee (ECON) Members of the European Parliament from the EPP, S&D, ALDE and GUE/NGL challenged the agreement reached on late December by EU finance ministers that would establish a common €55 billion single resolution fund to rescue ailing banks. As
During the final trialogue discussions between the Lithuanian EU Council presidency and the European Parliament on December 17, an agreement was finally reached pushing through EU audit reform. Now subject to ratification by 28 European Union member states later this week, the last minute deal will force big companies to change auditors regularly as member