The European Commission has today published new guidelines on corporate climate-related information reporting, as part of its Sustainable Finance Action Plan. These guidelines will provide companies with practical recommendations on how to better report the impact that their activities are having on the climate as well as the impact of climate change on their business.
The Council today adopted two key reforms in the framework of the Capital Markets Union.
- a regulation providing greater choice for people who wish to save for their retirement and expanding the market for personal pensions through the creation of a “pan-European pension product” (PEPPs).
- a package of measures aimed at removing existing barriers to the cross-border distribution of investment funds.
In line with the mandate of the Euro Summit of December 2018, the Eurogroup in inclusive format agreed on the main features of the budgetary instrument for convergence and competitiveness (BICC) for euro area, and for EMR II Member States on a voluntary basis. The instrument will strengthen the Economic and Monetary Union by supporting a higher degree of convergence and competitiveness within the euro area and participating Member States, hence contributing to the overall cohesion of the Union. It will help to strengthen the potential growth and to enhance the resilience and adjustment capacities of our economies as well as the mechanisms of economic governance.
Update – the Communication ‘Deepening Europe’s Economic and Monetary Union: Taking stock four years after the Five Presidents’ Report’ is now available.
Ahead of the Euro Summit on 21 June 2019, the European Commission today takes stock of the progress made to deepen Europe’s Economic and Monetary Union since the Five Presidents’ Report and calls on Member States to take further concrete steps.
The euro’s international role strengthened in 2018 and early 2019 reversing a declining trend in recent years. This was one of the principal findings in the latest annual report on The international role of the euro, published today by the European Central Bank (ECB).
Today, the European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB) published Common Minimum Standards for Data Revisions agreed between the ECB, EIOPA, the National Central Banks (NCBs) and the National Competent Authorities (NCAs).
ESMA identified four main characteristics of FBA trading systems through its call for evidence and intends to issue supervisory guidance on pre-trade transparency and on the price determination process of FBAs.
Mr Bindseil’s appointment will be effective on 1 November 2019.