The Alternative Investment Fund Managers Directive will come into force later this year in the European Union (EU). This will regulate alternative investment fund managers (AIFMs) within the EU and provide for a new pan-European ”passport” for compliant alternative investment funds (AIFs), including hedge funds, private equity and real estate funds. The European Securities and Markets Authority (ESMA) annnounced on 16 January 2013 that it has approved co-operation arrangements between the Brazilian Comissão de Valores Mobiliários (CVM) and all 27 of...

The European Commission today set out its first comprehensive strategy to prevent and respond to cyber disruptions and attacks. The new cybersecurity strategy along with a proposal on Network and Information Security aims to prevent and fight cybercrime, strengthen the security and resilience of networks and information security systems, and helps establish a more coherent European cybersecurity policy.   The international dimension also features prominently with the objective of establishing a coherent international cyberspace policy. At bilateral level, the document underscores...

European leaders today reached an important agreement on a balanced and growth-oriented common budget for the European Union. Noting that this compromise shows a sense of collective responsibility from Europe's leaders, European Council President Herman Van Rompuy highlighted that the 2014-2020 budget is future-oriented, realistic, and driven by pressing concerns. "I'm satisfied that all along this negotiation we kept the bigger picture in mind. Even in such difficult economic conditions, we have managed to keep essential factors of continuity and of growth." European Commission President...

The latest edition of the European Policy Scorecard 2013 published by the European Council on Foreign Relations (ECFR) finds that the transatlantic relationship remains resilient and vital to both partners. Europe is singled out as the only dependable partner the U.S. has. The study highlights how the EU has been able to advance its foreign policy objectives. In particular, the European External Action Service, under the leadership of High Representative Catherine Ashton, has "continued to develop and consolidate its role."...

France and Germany are each other’s closest and most important political, economical and cultural partners. The Elysée Treaty, signed on January 22, 1963 by the French President, General de Gaulle, and the German Chancellor, Konrad Adenauer, remains the cornerstone of French-German cooperation, which is the main engine of the European Union (the two countries represent 33% of the EU population, 36 % of the European Budget, 37 % of the EU GDP, 31 % of the voting rights…). The...

On January 1, 2013, Ireland assumed the rotating six-month presidency of the EU. What this means is that for the first half of 2013, Ireland occupies a leadership position that brings with it the opportunity to promote an EU policy agenda and help make it happen. The Presidency chairs meetingsat every level of the Council of the EU (one of the Union's principal legislators), proposes guidelines, and formulates compromises necessary for the Council to reach decisions. The one exception to...

One year ago, ahead of the European Data Protection Day 2012, the European Commission proposed a root and branch reform of the EU’s data protection rules to make them fit for the 21st century (IP/12/46). One year later, considerable headway has been made and negotiations on the new rules are progressing at full speed. The reasons are clear: To flourish, the digital economy needs trust. Many people are not confident about giving out their personal data online. This means they...

The European Commission today announced the winners of a multi-billion euro competition of Future and Emerging Technologies (FET). The winning Graphene and Human Brain initiatives are set to receive one billion euros each, to deliver 10 years of world-beating science at the crossroads of science and technology. Each initiative involves researchers from at least 15 EU Member States and nearly 200 research institutes. "Graphene" will investigate and exploit the unique properties of a revolutionary carbon-based material. Graphene is an extraordinary...