The European Securities and Markets Authority (ESMA)’s latest report on Trends, Risks and Vulnerabilities No. 1, 2017 (TRV) identifies political and policy uncertainty – such as potential repercussions from the upcoming elections in some EU Member States – as the main risk drivers for 2017. Risks in the markets under ESMA remit remained at high levels, reflecting very high risk in securities markets, and elevated risk for investors, infrastructures and services. Therefore, ESMA’s overall risk assessment remains unchanged: market and...

The initial results of a preliminary investigation carried out by the French National Financial Public Prosecutor's Office, commenced in September 2015, has revealed a vast and complex money laundering network in six Member States (Denmark, Germany, Estonia, Spain, Latvia, Lithuania) and in the offshore financial centres outside Europe (Hong Kong, Singapore). An alert issued by the French Financial Intelligence Unit (TRACFIN) and a complaint by the Directorate General of Public Finance (DGFiP) led to the investigation, assigned to the Central...

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today at the conclusion of the Group of 20 (G20) Finance Ministers and Central Bank Governors Meeting in Baden-Baden, Germany: “Our meeting showed once again that the G20 provides a critical platform for major economies to work together within an established framework. We met at a time when growth is gaining momentum around the world and there are signs that the global economy has reached...

On 25 March EU leaders will gather to celebrate 60 years since signing of Treaties of Rome: A moment to reflect, celebrate our values and look forward to the future of the EU with 27 Member States.   The European Union celebrates its 60 anniversary with a video showcasing some of its accomplishments condensed into 60 seconds.  Watch the video here or by clicking at the image above: EU60in60 seconds - time-lapse video Sixty years ago in Rome, the foundations were laid for...

Baden-Baden, the German spa town built on ancient thermal springs, is a fitting venue to discuss the health of the global economy during this week’s meeting of the Group of Twenty finance ministers and central bank governors. Policymakers will likely share a sense of growing optimism, because the recent strengthening of activity suggests that the world economy may finally snap out of its multi-year convalescence.  Economic prescriptions have played an important part in the recovery, and will continue to do so...

Today, the European Commission presented its latest report on the Rapid Alert System for dangerous products. In 2016, the system was more actively used by national authorities, who removed more dangerous products from stores. However, more and more of the dangerous products notified in the Rapid Alert System are sold on online platforms. This is why the Commission has stepped up its cooperation with Amazon, Ebay and Alibaba to tackle more actively potentially unsafe or non-compliant products from their websites...

Plans to tighten up official food inspections, from farm to fork, were adopted by Parliament on Wednesday. The new rules, already informally agreed by MEPs and the Council, aims to improve food traceability, combat fraud and restore consumer trust in the integrity of the food chain. The legislation will provide a comprehensive, integrated and more effective control system in the areas of food and feed safety rules, veterinary and plant health requirements, organic production and protected geographical indication rules. “After the...

Today, Secretary of Commerce Wilbur L. Ross, Jr. announced the appointment of Judy Marks, CEO of Siemens USA to the U.S. Investment Advisory Council.  Marks will work with the 15 other members of the council to develop and implement strategies and programs that attract and retain investment in the United States. “Judy has an extraordinary history of leadership that goes back decades and it is my honor to appoint her to the Council while in the midst of Women’s History...