MEPs and members of national parliaments kicked off their two-day yearly gathering on Tuesday, dedicated to discussing EU economic governance.
EU Finance Ministers today updated the EU list of non-cooperative tax jurisdictions. Four countries or territories- Cayman Islands, Palau, Panama and Seychelles – have been added to the list of non-cooperative tax jurisdictions, as they failed to comply with the required standards within the deadline. These join the eight jurisdictions –American Samoa, Fiji, Guam, Samoa, Oman, Trinidad and Tobago, Vanuatu and US Virgin Islands – that were already on the list and remain non-compliant. By contrast, over half of the countries covered by the 2019 listing exercise have been completely delisted, as they are now in line with all of the tax good governance standards.
Guidelines on outsourcing to cloud service providers now available for national supervisory authorities to consult. The Guidelines shall provide guidance to market participants on how the outsourcing provisions set forth in the Directive 2009/138/EC, in the Commission’s Delegated Regulation 2015/35 and in EIOPA’s Guidelines on System of Governance need to be applied in the case of outsourcing to cloud service providers.
The European Securities and Markets Authority (ESMA) is publishing a statement to clarify issues relating to its governance and the reporting obligations for UK entities from 1 February 2020 following the United Kingdom’s (UK) withdrawal from the European Union (EU).
European Commission President, Ursula von der Leyen, on behalf of the European Union, and International Monetary Fund’s Managing Director Kristalina Georgieva concluded a new Financial Framework Partnership Agreement that will boost their cooperation to tackle key challenges including climate change, and help countries achieve the Sustainable Development Goals. The European Union is the IMF’s main partner in capacity development since 2016.