It makes sense to differentiate between NFU and FU as regards non-financial disclosure obligations of large companies provided for in Art. 8, taking into account their special fea-tures, as business activities and accounting differ. For FU, appropriate implementing rules depend on the type of taxonomy-compliant business activities. Securities transactions differ from credit provision.Download
ISDA, working with 12 other trades associations representing all corners of financial markets and including the EAPB, has published a paper expressing concern that the EU Benchmarks Regulation third country benchmarks regime transition period should be extended to end-2025. It is currently set to expire at the end of 2021. The European Parliament and EU Council of Ministers are in final negotiations on a revision of BMR, with the Council having supported an extension to end-2025 in its version of the draft text. The associations believe that this extension is urgently needed to prevent putting EU firms from being placed at a competitive disadvantage in global markets and to allow policy-makers to conduct a comprehensive review of the current third country regime under BMR.Download
Together we as the representative bodies of different European Payment Service Providers, speaking on behalf of the various categories of PSPs under PSD2 and representing the European payments industry, welcome the opportunity given by the European Data Protection Board to participate in the public consultation on the Guidelines 06/2020 on the interplay between the PSD2 and the GDPR.Download
In March 2018, the European Commission published its Action Plan on Financing Sustainable Growth with the goal of
embedding sustainability considerations at the heart of the financial sector. Specifically, it aims to: a) reorient capital flows towards sustainable investment to achieve more sustainable and inclusive growth; b) manage financial risks stemming from climate change, resource depletion, environmental degradation and social issues; and c) foster greater transparency and long-termism in financial and economic activity.
On 11 December 2019, the European Commission adopted its Communication on a European Green Deal, which significantly increases the EU’s climate action and environmental policy ambitions. A number of levers will need to be pulled in order to build this growth strategy, starting with enshrining the climate-neutrality target in law. On 4 March 2020, the European Commission proposed a European Climate Law to turn the political commitment of climate-neutrality by 2050 into a legal obligation. This follows the European Parliament’s declaration of a climate emergency on 28 November 2019 and the European Council conclusions of 12 December 2019, endorsing the objective of achieving a climate-neutral EU by 2050.Download
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