07 Feb
Member News

U.S. Dollar up as Virus Forces Tough Decisions

The U.S. Dollar is ending the week strengthening against all peers across the board as economic data is providing evidence of much better performance in this region than elsewhere. Indeed, the greenback is up based on releases showing non-Farm Payrolls growing by 225K over the expected 165K, while the Labor Participation Rate and Unemployment Rate both exceeded expectations. The overall health in the labor sector is certainly impressive, yet wages seem to be stuck with Average Hourly Earnings coming in...

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07 Feb
Chapter News

ESMA Issues Opinions on Position Limits under MIFID II

The European Securities and Markets Authority (ESMA) has published seven opinions on position limits  regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation (MiFID II/MIFIR) today. ESMA’s opinions agree with the proposed position limits regarding: ICE Endex Dutch TTF Gas contracts EEX Phelix DE Base Power contracts EEX Capesize TC5 Freight contracts EEX Spanish Power Base contracts MEFFPOWER  Baseload contracts ESMA found that the proposed position limits are consistent with the objectives established in MiFID II and with the methodology...

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07 Feb
Member News

Vulcan Insight Analysis of the Latest EU Developments

European Commission presents draft Brexit negotiating directives The European Commission’s chief Brexit negotiator, Michel Barnier, on Monday 3 February, presented the EU’s draft negotiating directives. The draft mandate will now have to be approved by EU Affairs Ministers on 25 February. On the first full working day since the United Kingdom officially withdrew from the European Union, the European Commission adopted the EU’s draft negotiating directives for the upcoming negotiations on the future EU-UK relationship. Pending any amendments by member...

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06 Feb
Chapter News

A More Credible, Dynamic, Predictable and Political EU Accession Process – Commission Lays out its Proposals

Today, the European Commission put forward a proposal to drive forward the EU accession process, by making it more credible, with a stronger political steer, more dynamic and predictable. Commissioner for Neighbourhood and Enlargement, Olivér Várhelyi, commented: “The European Union enlargement to the Western Balkans is a top priority for the Commission. We are working on three tracks: Firstly, today we propose concrete steps on how to enhance the accession process. While we are strengthening and improving the process, the goal remains accession...

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06 Feb
Member News

ING Posts 2019 Net Result of €4,781 Million; 4Q2019 Net Result of €880 Million

A growing number of customers choose ING as their primary bank Primary customer base rises by more than 830,000 in FY2019 to 13.3 million; total retail customer base reaches 38.8 million Net core lending grows by €17.2 billion in 2019, €2.0 billion in 4Q2019; net inflow customer deposits €23.4 billion in 2019, €2.5 billion in 4Q2019 Four-quarter rolling net interest margin holding up on continued pricing discipline and tiering ING full-year 2019 underlying pre-tax result 9.2% lower than last year;...

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06 Feb
Member News

The European Fund for Strategic Investment: A Tool to Bridge the Investment Gap

It was not the fault of the crisis or at least not of the crisis alone. But the economic and financial meltdown of 2007/8 and following years made the European investment gap more visible. In late 2014, when the previous President of the European Commission Jean-Claude Juncker took office, it was obvious that the continent had been living off its capital stock for quite some time and that it was in dire need of modernisation. To spur investment and get...

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05 Feb
Member News

Mason Hayes & Curran Reports 4% Rise in Revenue

Irish business law firm Mason Hayes & Curran last year recorded a 4 per cent rise in revenue to €85 million. The Dublin-based firm, which is 50 years old, said the main drivers for its “solid” growth were demand in technology and data privacy, energy, financial services and litigation. It appointed 12 new partners, to bring the total to 90. Managing partner Declan Black said the firm was optimistic about this year, with a “positive” outlook for its clients given the strength of the Irish economy. Mr Black, who was recently...

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05 Feb
Member News

The Toy Association in Nuremberg: Trend-Tracking & International Meetings

February 3, 2020 | Toy Association staff members traveled to Nuremberg, Germany last week to meet with Spielwarenmesse 2020 exhibitors to track toy and play trends, as well as discuss regulatory issues of international importance with global toy associations. Toy Trends Spielwarenmesse was the latest stop for The Toy Association’s trends team, which travels to trade and consumer events throughout the year, both within the toy industry and beyond, to track new trends, meet with Toy Association members, and preview innovative products impacting...

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05 Feb
Chapter News

EU’s Foreign Policy Chief Josep Borrell Travels to the United States

Josep Borrell, the EU's High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission (HR/VP), will travel to the United States on 6 and 7 February. This will be the first visit of Josep Borrell to the United States in his capacity as HR/VP. During his stay in Washington DC, he will meet with United States Secretary of State, Michael R. Pompeo, with the Speaker of the United States House of Representatives, Nancy Pelosi, with National...

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05 Feb
Chapter News

ESMA Amends Guidelines to Further Harmonise the Enforcement of Financial Information by National Regulators

The European Securities Markets Authority (ESMA) has published today an amended version of its guidelines on enforcement of financial information. The Guidelines apply to national competent authorities’ (NCAs) enforcement of financial information which issuers, listed on regulated markets, are required to publish under the Transparency Directive. Following a 2017 peer review on the implementation of certain aspects of the Guidelines, ESMA decided to amend the Guidelines in order to further harmonise the way NCAs enforce the financial disclosures of European issuers. The...

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