Other news - June 2014
The European Commission has today presented a roadmap for measures to strengthen the Single Market for defence, to promote a more competitive defence industry and to foster synergies between civil and military research.
Public consultation on the contributions of credit institutions to resolution financing arrangements
The European Commission launched today a consultation on the contributions of credit institutions to resolution financing arrangements under the Bank Recovery and Resolution Directive and the Single Resolution Mechanism. Input is requested on key elements related to the calculation of contributions of individual credit institutions to the resolution funds.
Another step in the implementation of the bank reform: publication of two key pieces of the Single Rulebook for banks
Today, the Directive on the Recovery and Resolution of Credit Institutions and Investment Firms (BRRD) and the recast Directive on Deposit Guarantee Schemes (DGS) have been published in the EU Official Journal. The BRRD provides a complete framework for the crisis management of banks, while the DGS Directive strengthens the protection of citizens’ deposits in case of bank failures.
Today, the Directive on markets in financial instruments (MiFID 2) repealing Directive 2004/39/EC and the Regulation on markets in financial instruments (MiFIR) were published in the EU Official Journal. Member States have two years to transpose the new rules which will be applicable starting January 2017. The new framework aims to make financial markets more efficient, resilient and transparent.
Today, Regulation No 596/2014 on market abuse and Directive 2014/57/EU on criminal sanctions for market abuse, were published in the EU Official Journal. The new framework on market abuse updates and strengthens the existing framework to ensure market integrity and investor protection.