On Tuesday 10 September, Commission President-elect Ursula von der Leyen unveiled her pick of Commissioner-designates and their respective portfolios. While there were some surprises compared to rumoured allocations, overall the ‘package’ was welcomed by citizens and business alike. Explaining the proposed new College of Commissioners, Von der Leyen stressed that her focus will be on…

There are mounting concerns in the Council and the European Commission regarding the European Parliament’s approach to the Multiannual Financial Framework (MFF) i.e. the EU’s long-term budget. There are fears that not enough provisional agreements on sectoral programmes will be reached before the European elections, according to a letter from the Romanian Presidency of the…

Financial markets resent political uncertainty. In today’s turbulent political landscape, the associated risks represent some of the most important considerations for international investors. The enduring Brexit blockade has plagued the City of London and foreign financial services markets with uncertainty. It is a perfect example of extensive political flux and instability having profound impacts upon…

Since the onset of the 2008 financial crisis, global policymakers have been interested in ensuring that those financial institutions “whose distress or disorderly failure, because of their size, complexity and systemic interconnectedness, would cause significant disruption to the wider financial system and economic activity” (FSB, 2011) are identified and appropriately regulated. After systemically important banks…

In March 2018 the European Commission released its plans to boost crowdfunding activity in the EU as part of its wider FinTech Action Plan. The European Crowdfunding Service Providers (ECSP) Regulation – and its accompanying Directive amending MiFID II – proposes a voluntary EU regime for lending-based and equity-based crowdfunding service providers (i.e. platforms). The…

BREXIT

The next European Parliament will shrink from 751 to 705 MEPs, the European Council formally decided yesterday. The decision, which reduces and redistributes European Parliament seats, following the withdrawal of the United Kingdom (UK) from the European Union (EU), came after the European Parliament’s endorsement of the proposed recomposition of seats earlier this month. Of…