From May 31 to June 1, 2013, members of the U.S. House of Representatives and the European Parliament met in Dublin, Ireland, for the 74th inter-parliamentary meeting of the Transatlantic Legislators’ Dialogue (TLD). The TLD fosters discussion and collaboration between the European Parliament and the US Congress on specific topics of mutual concern. During the meeting in Dublin, legislators focused on issues including shared economic and financial challenges, upcoming negotiations on a Transatlantic Trade and Investment Partnership, legislative developments relating...

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Manuel Luis Rodrigues, Secretary of State of Finance, Portugal, visited the New York Stock Exchange (NYSE) on Tuesday, June 4 as part of NYSE Euronext’s inaugural Pan European Days, a program that was organised in partnership with EACCNY. To mark the occasion, Mr. Rodrigues was joined by European company executives and officials, including EACCNY President James Rosener, in ringing The Opening Bell®. Sponsored by NYSE Euronext and in partnership with the European American Chamber of Commerce New York as well as...

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EU Trade Commissioner Karel De Gucht in New York City discussed the Transatlantic Trade and Investment Partnership. In his speech to the European American Chamber of Commerce, he stressed that removing transatlantic trade barriers will deliver major benefits to the European Union and the United States, boosting economic growth and stimulating business confidence.  Noting that uncertainty about the economic future has held companies back from investment decisions, he also pointed out that an agreement would send a powerful signal that...

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On 15 May 2013, the regulator of the funds industry in Ireland, the Central Bank of Ireland (the “Central Bank”), announced that it is now accepting applications under the Alternative Investment Fund Managers Directive (the “AIFMD”). The Central Bank also published the relevant Application Forms, as well as its AIF Rulebook, making it the first regulator in Europe to provide such clarity on its approach to applications under AIFMD. The AIF Rulebook details the requirements relating to alternative investment funds...

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Cybersecurity: EU-U.S. Cooperation Large-scale attacks against information systems and various other forms of cybercrime, such as online identity theft or online child abuse, are subject to rapidly evolving technological developments. The EU’s responses to such crimes are equally innovative and flexible, ranging from support for cross-border cyber-investigations and police training to legislative measures. The EU established a dedicated European Cybercrime Center within Europol that began operations in January 2013. Because cybercrime knows no borders and is increasingly a global threat, the EU...

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The European Union’s founding fathers reacted to the bloodshed and destruction of World War II by concocting a scheme designed to inextricably link Europe’s coal and steel industries and prevent wars from ravaging the European continent in the future. On May 9, 1950, French Foreign Minister Robert Schuman announced a plan—in a speech inspired by French businessman-turned-advisor Jean Monnet—that proposed pooling European coal and steel production under a common authority. While contributing to postwar economic recovery, this plan would also control...

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The Directorate-General for Economic and Financial Affairs (DG ECFIN) of the European Commission is pleased to inform you about its newest publications for your free download as PDF: The future of EMU Economic growth perspectives for Europe These two Economic Briefs provide an overview of the broad range of economic research papers on the two topics written by leading scholars under the auspices of DG ECFIN's Fellowship Initiative 2012 - 13. The two papers outline the issues addressed in the...

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ESMA published its Final Report Draft Regulatory Technical Standards on Types of AIFM. The final report sets out in its Annex IV the draft regulatory technical standards (RTS) required by Article 4(4) AIFMD. The draft RTS in Annex IV will now be submitted to the Commission for endorsement or rejection within 3 months of receipt. It will also be forwarded to the European Parliament and Council. If adopted, the RTS will take the form of a Commission Regulation. It will enter...

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The European Parliament's Committee on Economic and Monetary Affairs (ECON) published its draft report on the proposal for a Council directive implementing enhanced cooperation in the area of the Financial Transaction Tax (FTT). The committee suggests: closing a loophole of the issuance principle as far as OTC derivatives are concerned; reintroducing the ownership principle, according to which a financial transaction in relation to which no FTT has been levied is not legally enforceable and does not result in a transfer of legal...

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Speaking at a conference organized by the U.S. Embassy in Dublin, Ireland, European Union Trade Commissioner Karel De Gucht pointed out that the Transatlantic Trade and Investment Partnership is a cost-effective stimulus package, providing a growth boost to the transatlantic economy as well as ensuring that neither the U.S. nor the EU would slide back into protectionism as it would make clear that both "are willing to put their beliefs into practice by opening their markets even further." Commissioner De Gucht...

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