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Transatlantic News
Transatlantic News
16
Jul
However, it considers that Commission Decision 2010/87 on standard contractual clauses for the transfer of personal data to processors established in third countries is valid.
Read the full press release here: The Court of Justice invalidates Decision 2016/1250 on the adequacy of the protection provided by the EU-US Data Protection Shield
Compliments of the European Commission.
15
Jul
The European Commission has today adopted an ambitious new Tax Package to ensure that EU tax policy supports Europe's economic recovery and long-term growth. The Package is built on the twin pillars of fairness and simplicity. Fair taxation remains a top priority for the European Commission, as a means of protecting public revenues, which will play an important role for the EU's economic recovery in the short-run and prosperity in the long-run.
Today's Package seeks to boost tax fairness, by intensifying the...
15
Jul
Credit standards for loans to firms remain favourable, supported by fiscal and monetary measures
Surge in firms’ demand for loans continues to reflect emergency liquidity needs
Credit standards for loans to households tighten further
Credit standards – i.e. banks’ internal guidelines or loan approval criteria – remained broadly unchanged for loans to enterprises (see Chart 1), while tightening further for loans to households for house purchase, consumer credit and other lending to households in the second quarter of 2020, according to the July 2020...
14
Jul
Together with our members we are creating a Video series of first-hand accounts of the Pandemic’s impact, both personally & professionally.
We invite you to join us today for a first-hand look at the impact of the global shutdown following the Coronavirus (COVID-19) outbreak – Today we are featuring Sophie Lechner, Founder & CEO of Global Commerce Education a Member of the EACCNY.
The questions we asked our members for this series are:
1) What are some challenges you, personally and...
14
Jul
The European Commission has welcomed a list of ‘best practices' agreed by the financial sector, and consumer and business organisations, to help further mitigate the impact of the coronavirus pandemic. It sets out concretely how different market participants can support citizens and businesses throughout the crisis.
Today's ‘best practices' cover several issues, including:
Payment moratoria for consumer and business loans, and for insurance contributions: these measures can help those facing financial difficulties by deferring payments;
Enabling safer cashless payments while ensuring cash...
14
Jul
The European Commission has today recommended that Member States do not grant financial support to companies with links to countries that are on the EU's list of non-cooperative tax jurisdictions. Restrictions should also apply to companies that have been convicted of serious financial crimes, including, among others, financial fraud, corruption, non-payment of tax and social security obligations. The aim of today's recommendation is to provide guidance to Member States on how to set conditions to financial support that prevent the...
13
Jul
Statement by President Charles Michel | Brussels
One week from today, the 27 Leaders will come together here in Brussels. It will be our first physical meeting since the beginning of the crisis.
As you know, last May, on the request of the European Council, the Commission presented a package that combines the MFF and the recovery instrument Next Generation EU.
On June 19th, leaders had a first discussion on this proposal. These discussions revealed strong opposition to the package. As a...
13
Jul
The European Securities and Markets Authority (ESMA), the EU’s securities markets’ regulator, has published today its second report on sanctions and measures imposed under the Markets in Financial Instruments Directive (MiFID II) by National Competent Authorities (NCAs).
Overall, in 15 (out of 30) EEA Member States, NCAs imposed a total of 371 sanctions and measures in 2019 of an aggregated value of about €1.8 million.
The Report provides an overview of the applicable legal framework and the sanctions and measures imposed by NCAs under...
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