Other news - March 2012
"I am very pleased that, today, the Council has adopted an EU Regulation entrusting the Office for Harmonisation in the Internal Market (OHIM) with new tasks. This marks an important step that should allow us to develop a better understanding of the impact of intellectual property right (IPR) infringements on the EU economy…
European Commission levels the playing field for European business in international procurement markets
The European Commission proposes to improve business opportunities for EU firms in procurement markets. The main objective of the initiative is to help open worldwide public procurement markets and to ensure European businesses have fair access to them. The proposal also aims to ensure that all companies (both European and non-European firms) are on an equal footing when it comes to competing for business in the EU's lucrative public procurement market.
"My priorities for 2012 focus on initiatives that see the financial sector as a source of financing for our economies, and therefore as an agent of economic growth…" Speech by Commissioner Barnier at the press conference launching the Green Paper on shadow banking, Brussels.
In order to make the financial sector sounder and safer, it is now time to deal with the growing area of "shadow banking" – credit activity that is similar to a bank's, but is not regulated like a bank. To a certain extent, shadow banking performs important functions – for example, it creates additional sources of funding and offers investors alternatives to bank deposits. But it can also pose potential threats to long-term financial stability.
Commission acts to increase the safety and efficiency of securities settlement in Europe The European Commission has proposed to set up a European common regulatory framework for the institutions responsible for securities settlement, called Central Securities Depositories (CSDs). The proposal will bring more safety and efficiency to securities settlement in Europe. It also seeks to shorten the time it takes for securities settlement and to minimise settlement fails.