EU Legislation, Initiatives, etc.
FRC: The Financial Reporting Council has responded to the European Insurance and Occupational Pensions Authority’s (EIOPA) draft advice to the European Commission (EC) for the review of the IORP Directive, the European legislation that governs the regulation of UK pension schemes.
The consultation includes the extent to which the regulatory framework for UK pension schemes should be similar to that for other financial institutions and products, in particular the Solvency II framework for insurers.
The consultation includes the extent to which the regulatory framework for UK pension schemes should be similar to that for other financial institutions and products, in particular the Solvency II framework for insurers.
EU News: Carrying a virtual train ticket or repaying a friend with your mobile phone, buying your groceries online, paying with your debit card abroad (the way European citizens shop & pay) is radically changing.
A secure & transparent integrated payments environment throughout the EU could create more efficient, modern & safer means of payments – for the benefits of consumers, merchants and payment providers.
A secure & transparent integrated payments environment throughout the EU could create more efficient, modern & safer means of payments – for the benefits of consumers, merchants and payment providers.
Based on the Green Paper consultation adopted last week, the Commission seeks the views of stakeholders as to which obstacles hinder further market integration and how these could be resolved. The deadline for submitting contributions to the consultation is 11 April 2012.
On the basis of a thorough analysis of the consultation feedback, the Commission will announce the next steps to be taken before the summer of 2012.
On the basis of a thorough analysis of the consultation feedback, the Commission will announce the next steps to be taken before the summer of 2012.
EU News: The development of electronic commerce & online services offers enormous potential for beneficial economic, social and societal change. The European Commission finds, however, that there are many obstacles preventing consumers & businesses from investing fully in online services: ignorance or uncertainty about the applicable rules, offers that lack transparency & are hard to compare, and payments & modes of delivery that are often expensive and unsuitable.
That is why, as part of the Digital Agenda and the Single Market Act and in response to the request from the European Council to submit a roadmap for the completion of the Digital Single Market by 2012, the Commission has adopted a Communication presenting 16 targeted initiatives aimed at doubling the share of e-commerce in retail sales by 2015.
EU News: The latest draft of the treaty on reinforced economic union is unacceptable - Parliament could not endorse it as it stands, said MEPs representing it on the treaty drafting group, Elmar Brok (EPP, DE), Roberto Gualtieri (S&D, IT), Guy Verhofstadt (ALDE, BE) and Daniel Cohn-Bendit (Greens/EFA, FR), in a joint statement last Wednesday.
ScotGov: The Scotland-wide series of public meetings about the reform of the Common Agricultural Policy (CAP) kicked off again last week – See ‘Forthcoming Events’ section for more information.
