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Issue 15 | August 2012

Copyright: Commission proposes easier music licensing in the Single Market

Consumer demand for music does not recognise borders or national restrictions. Neither do the online services used to access them. The European Commission has proposed new rules to modernise the transparency and efficiency of collecting societies. Collecting societies will need to modernise to make sure that music is more readily available to consumers on-line, that revenue is correctly collected and fairly distributed to authors, and to make it easier for service providers to roll out new services.

"We need a European digital Single Market that works for creators, consumers and service providers. More efficient collecting societies would make it easier for service providers to roll out new services available across borders – something that serves both European consumers and cultural diversity."

Latest news »« TOP
Libor scandal: Commission proposes EU-wide action to fight rate-fixing

In the recent LIBOR scandal, serious concerns have been raised about false submissions of banks' estimated interbank lending rates. The European Commission has acted to address this kind of market manipulation, by adopting amendments to the proposals for a Regulation and a Directive on insider dealing and market manipulation, including criminal sanctions, initially tabled on 20 October 2011.

More information
Commission proposes legislation to improve consumer protection in financial services

The new legislative package includes a proposal for a regulation on key information documents for packaged retail investment products (PRIPS), a revision of the Insurance Mediation Directive (IMD), and a proposal to boost protection for those who buy investment funds (UCITS).

More information

Commission adopts rules on the ban on naked sovereign CDSs and short selling of securities

The European Commission has adopted a Delegated Act which sets out important technical rules needed to ensure the uniform application and enforcement of the Regulation on Short Selling and credit default swaps (CDSs). In particular, the Delegated Act specifies the cases in which sovereign CDSs are considered covered, and therefore not banned by the Regulation.

More information
Towards a European financial union and a more solid European banking sector

"We need an integrated Financial Union with enhanced democratic control". Speech by Commissioner Barnier at the Peterson Institute for International Economics, Washington DC.

Read the Speech

Your Europe goes mobile

Are you leaving on holiday soon? Are you planning on travelling to other European countries? If so, it might be helpful to check the Your Europe portal to find answers to many common questions, such as: Is my driving licence valid when renting a car in Spain? What should I do if I have an accident in Denmark? What are the requirements for travelling with my pet to Ireland? And just how much of that wonderful Italian wine can I take home with me?

Your Europe is truly a citizens’ portal as it takes the users’ perspective. Organised around practical themes of daily life, it explains your Single Market rights in plain language – in all official EU languages. You will find practical tips and warnings as well as real-life stories that make the information all the more relevant. In case of doubt or more specific questions or problems, Your Europe also gives easy access to additional, personalised help. The latest innovation comes just in time for summer: now you can consult Your Europe using your mobile device, thanks to adaptive design technology. This will be particularly convenient for citizens who are travelling and who might need assistance while on the road or stuck in an airport.

Visits and Missions »« TOP
Commission Barnier, 12th Economic Forum of Aix-en-Provence - 6, 7 and 8 July 2012

Mr Barnier took part in the 12th edition of the Economic Forum of Aix en Provence, organized by the Circle of economists, and on the theme: "And if the sun rose in the west also ... The new global dynamic." These meetings have sought to give a more balanced view of the world's future. Commissioner Barnier has participated in the panel discussion: "What ambition for Europe".

Commissioner Barnier, Peterson Institute for International Economics, Washington, 12 July 2012

Commissioner Barnier made a speech at the Peterson Institute in Washington, entitled "Towards a financial union and a stronger European banking sector." He particularly stressed the idea that Europe needs an integrated financial Union with improved democratic scrutiny.

Commissioner Barnier, Conference "The burning issue: EU copyright law in a digital age", London, July 17, 2012

Commissioner Barnier spoke at the conference organized by the Institute for Public Policy Research on copyright. He referred to the Commission's actions in the field of intellectual property.

Consultations »« TOP
26.07.2012  -  18.10.2012Investment FundsUndertakings for collective Investment in Transferable Securities (UCITS) - Product Rules, Liquidity Management, Depositary, Money Market Funds, Long-term Investments

04.06.2012  -  05.09.2012e-CommerceA clean and open internet: public consultation on procedures for notifying and acting on illegal content hosted by online intermediaries

News from the Parliament »« TOP
Strasbourg plenary week (July 2 - 5 2012)
  • Anti-Counterfeiting Trade Agreement (ACTA) between the EU and its Member States, Australia, Canada, Japan, the Republic of Korea, Mexico, Morocco, New Zealand, Singapore, Switzerland and the USA
    Opposing the call by Conservatives to postpone the vote whilst waiting for an opinion from the European Court of Justice, the majority of MEPs at the European Parliament are expected to definitively bury the very controversial international anti-counterfeiting agreement (ACTA).
  • Access to basic banking services
    The rapporteur, M Jürgen Klute (GUE/NGL, DE), called upon the Commission not to waste time and to present by January 2013 a legislative proposal granting EU citizens a right to a basic bank account. M Klute insisted on the social responsibility of banks, noted the disappointing results of the Commission Recommendation of July 2011 and called for the legal provision of a basic bank account, free of charge or at a reasonable cost, inviting Member States to set a binding cap on those costs.
    Commissioner Barnier underlined the importance of the social, humanistic dimension of an Internal Market for citizens and consumers. In this respect, he drew attention to the recent adoption by the Commission of three proposals (PRIPs, IMD and UCITS V) aiming at restoring consumers' confidence in financial markets. He explained that the Commission with its Recommendation had given time for dialogue as well as for Member States to take measures. However, results regrettably were only partial. Mr Barnier said that the EP report constituted a very good base which he would duly take into account when tabling, provided the College would agree to it, a legislative proposal.

See also:
Website: IMCO (Internal Market Committee)
Website ECON (Economic and Monetary Affairs Committee)

Latest publications »Question of the Month »
Single Market News
Issue 63 (2012-I)

Making the Single Market deliver: Annual governance check-up 2011

Single Market Act - Together for new growth

Restoring the health and stability of the EU financial sector

Do you agree with the new rules the European Commission has proposed to modernise the transparency and efficiency of collecting societies?


Results from the last month:
Do you agree that the Single Market is a key driving force behind economic growth?
YES - 93.3%
NO - 6.7%

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