The European Commission adopted today delegated acts under the Solvency II Directive and the Capital Requirements Regulation which will help promote high quality securitisation, ensure that banks have sufficient liquid assets in testing circumstances and introduce international comparability to leverage ratios.
The European Commission adopted three Regulatory Technical Standards which will help to implement key provisions of the Regulation on Credit Rating Agencies by setting out reporting and disclosure requirements in three important areas.
The European Commission welcomes today’s adoption by the Council of the Directive on disclosure of non-financial and diversity information by large companies and groups. Companies concerned will disclose information on policies, risks and outcomes as regards environmental matters, social and employee-related aspects, respect for human rights, anti-corruption and bribery issues, and diversity on boards of directors.
“We have attacked through the overhaul of the financial framework of the last five years. Now we need to defend what we have achieved by remaining alert to new and potential risks. Adapt to changing circumstances. And play as a team to win the global competition”. Speech by Vice President Barnier at the Worshipful Company of World Traders, London.
The first Competitiveness Council under the mandate of the Italian EU Presidency will take place in Brussels on 25-26 September 2014. The Council will discuss the mid-term review of the EU’s economic growth programme, the Commission’s Implementation Roadmap “A New Deal for European Defence”, the implementation of the patent package, and the opportunity of extending EU-wide geographical indication protection to non-agricultural products.
“Application of the texts, implementation of reforms, continuing to adapt the existing framework: here are three key challenges in which your committee will play a key role, together with the Commission and the Council”. Speech by the Vice-President Barnier to the Economic and Monetary Affairs Committee of the European Parliament (structured dialogue ECON).
“We must ensure rules are applied in a consistent and coherent way. This is particularly true for the EU and the US”. Speech by Vice-President Barnier at the Eurofi Financial Forum, in Milan.