Consumer financial services

The EC has launched a public consultation on instant payments. The broad aims of the consultation are to identify obstacles to the availability and use of instant payments and to inform the EC on possible future action to ensure that a critical mass of EU public service providers (PSPs) can offer instant credit transfers. [...]

By |2021-11-05T10:26:16+00:00April 20th, 2021|Financial, Top News, Top Stories|Comments Off on Consumer financial services

Brexit and financial services

During March 2021, the UK and EU completed technical discussions on a Memorandum of Understanding on financial services. The MoU sets out a framework for regulatory cooperation and establishes a Joint UK-EU Financial Regulatory Forum for dialogue and information sharing. In a recent interview, former head of the EC’s Brexit Taskforce, Michel Barnier, emphasized [...]

By |2021-11-05T10:26:22+00:00April 20th, 2021|Brexit, Financial, Top News, Top Stories|Comments Off on Brexit and financial services

New EC Digital Finance and CMU packages

The EC has launched two major initiatives to help support the financial sector, including consumers, towards recovery. A digital finance package, including a strategy on retail payments, aims to make EU rules more digital-friendly and safe for consumers. The accompanying legislative proposals on crypto-assets and digital resilience seek to ensure access to innovative financial [...]

By |2020-10-13T07:18:30+00:00October 13th, 2020|Financial, Top News, Top Stories|Comments Off on New EC Digital Finance and CMU packages

New EC fair tax package

As part of the EU recovery agenda, the EC has adopted a comprehensive new tax package. The overall aim is to boost tax fairness, protect against unfair competition and increase transparency. The package consists of an action plan setting out 25 actions to improve tax fairness and simplicity, a proposal to extend EU tax [...]

By |2021-11-05T09:47:54+00:00October 13th, 2020|Financial|Comments Off on New EC fair tax package

Impact of Brexit on Consumers in Financial Services

Brexit will have ‘unfortunate consequences’ for all consumers in the retail financial sector both in the UK and rest of Europe. Despite safeguards by EU and UK in the withdrawal agreement, many consumers would remain unprotected following the UK’s departure. This was one of the key conclusions of a recent workshop with business and [...]

By |2019-02-24T14:46:19+00:00December 14th, 2018|Brexit, Financial|0 Comments

Anti-Money Laundering

‘Anti-Money Laundering’ During May the EU Council adopted the 5th anti-money laundering Directive. EU Member States have 18 months in which to transpose the Directive into national law. Meanwhile, there is talk of a 6th Directive. The European Parliament’s special tax committee is continuing its programme of hearings and workshops to highlight anti-money laundering [...]

By |2019-02-24T14:48:26+00:00June 24th, 2018|Financial|0 Comments
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