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Michel Barnier
Finalising the Banking Union: European Parliament backs Commission’s proposals (Single Resolution Mechanism, Bank Recovery and Resolution Directive, and Deposit Guarantee Schemes Directive)
15/04/2014

"The EU has lived up to its commitments. Thanks to the assiduous work of the co-legislators, we have turned the idea of a Banking Union into reality in less than two years".

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European Parliament adopts the updated rules for Markets in Financial Instruments (MiFID II)
15/04/2014

"These new rules will improve the way capital markets function to the benefit of the real economy. They are a key step towards establishing a safer, more open and more responsible financial system". Statement by Commissioner Barnier

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Small plant growing out of a bunch of euro coins
Greater protection for retail investors: Commission welcomes European Parliament adoption of strengthened European rules on UCITS
15/04/2014

"With this vote, we have taken another important step towards making financial products safer and re-establishing investor confidence, a pre-requisite for investment and economic growth in Europe". Statement by Commissioner Barnier.

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Small plant growing from a small bunch of euro coins, and hand adding one more coin
The right investment to suit your needs: basic information leaflet will help retail investors make the right choice
15/04/2014

"European consumers need a clear and understandable explanation on how they invest their savings. […] The broad coverage of the Key Information Document aims to ensure that […] the consumer can compare different investment proposals". Statement by Commissioner Barnier.

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European Parliament adopts the Directive on payment accounts
15/04/2014

"With these new rules we intend to make a real difference in the lives of millions of EU citizens. Improving the transparency and comparability of fees in the payment accounts [...] will enable consumers to benefit from better offers and lower costs for their payment accounts. Universal access to basic payment accounts will encourage more people to profit from the new opportunities which derive from them". Statement by Commissioner Barnier

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Michel Barnier
Improving corporate governance: Europe’s largest companies will have to be more transparent about how they operate
15/04/2014

"Companies that already publish information on their financial and non-financial performances take a longer term perspective in their decision-making. This is important for Europe’s competitiveness and the creation of more jobs". Statement by Commissioner Barnier

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Company law
European Commission proposes to strengthen shareholder engagement and introduce a "say on pay" for Europe’s largest companies
09/04/2014

The European Commission has today adopted a package of measures to improve the corporate governance of around 10 000 companies listed on Europe’s stock exchanges. The package includes: a proposal to revise the existing Shareholder Rights Directive which will encourage shareholders to be more involved in the companies they invest in and to take a longer-term perspective into account; a recommendation to improve corporate governance reporting by listed companies; and a proposal for a directive on single-member companies which will help entrepreneurs reduce costs and organise activities abroad.

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