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Daily News – 04.01.2019

European Commission - Daily News

Daily News 04 / 01 / 2019

Brussels, 4 January 2019

Commission publishes draft rules to ensure investment firms and insurance distributors consider sustainability topics when advising clients

The Commission has today published draft rules on how investment firms and insurance distributors should take sustainability issues into account when providing advice to their clients. Today's announcement forms part of the Commission's Action Plan on Financing Sustainable Growth first put forward in May 2018, and would amend delegated acts under the Markets in Financial Instruments Directive (MiFID II) and the Insurance Distribution Directive. The new draft rules will help integrate Environmental, Social and Governance (ESG) considerations and preferencesinto investment advice and portfolio management, and into the distribution of insurance-based investment products. The Commission can only officially adopt these draft rules once new disclosure provisions for sustainable investments and sustainability risks, which put in place an EU-wide definition for ESG considerations, have been agreed at EU level. At the same time, today's publication should ensure that investment firms and insurance distributors can already prepare to take ESG considerations and preferences into account in the suitability assessments they undertake to see if proposed investments are appropriate for a client. Once adopted by the Commission, the delegated acts will enter into force after their publication in the Official Journal, unless the European Parliament and the Council object to them within a period of three months (extendable to six months). The Sustainable Finance Action Plan is part of the broader Capital Markets Union's (CMU) efforts to connect finance with the specific needs of the European economy to the benefit of the planet and our society and is one of the key steps towards implementing the historic Paris Agreement and the EU's agenda for sustainable development. (For more information: Johannes Bahrke – Tel.: +32 2 29 58615; Patrick McCullough - Tel.: +32 229 87183)

 

Commission clears acquisition of joint control over F&B by the Oetker-Group and the Coop-Group

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over F&B – Food and Beverage Services GmbH ("F&B") by Dr. August Oetker KG ("Oetker-Group") both of Germany and the Coop-Gruppe Genossenschaft (“Coop-Group”) of Switzerland. F&B, through its holding in Team Beverage AG of Germany, is active in the procurement and supply of alcoholic and non-alcoholic beverages. The Oetker-Group, through its subsidiaries, is inter alia active in the production and distribution of beer, wine, sparkling wine and non-alcoholic beverages. The Coop-Group is a retail and wholesale trading company. The Commission concluded that the proposed transaction would raise no competition concerns because there are only limited horizontal overlaps and vertical links between the companies' activities. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.9085. (For more information: Maria Tsoni - Tel.: +32 229 90526)

 

Eurostat: Le taux d'inflation annuel de la zone euro en baisse à 1,6%

Le taux d'inflation annuel de la zone euro est estimé à 1,6% en décembre 2018, contre 1,9% en novembre selon une estimation rapide publiée par Eurostat, l'office statistique de l'Union européenne. S'agissant des principales composantes de l'inflation de la zone euro, l'énergie devrait connaître le taux annuel le plus élevé en décembre (5,5%, comparé à 9,1% en novembre), suivie de l'alimentation, alcool et tabac (1,8%, comparé à 1,9% en novembre), des services (1,3%, stable comparé à novembre) et des biens industriels hors énergie (0,4%, stable comparé à novembre). Un communiqué de presse complet est disponible en ligne.(Pour plus d'informations: Annika Breidthardt – Tél.: +32 229 56153; Annikky Lamp – Tél.: +32 229 56151)

 

Eurostat: Les prix à la production industrielle en baisse de 0,3% dans la zone euro, baisse de 0,4% dans l'UE28

En novembre 2018 par rapport à octobre 2018, les prix à la production industrielle ont diminué de 0,3% dans la zone euro (ZE19) et de 0,4% dans l'UE28, selon les estimations d'Eurostat, l'office statistique de l'Union européenne. En octobre 2018, les prix avaient augmenté de 0,8% dans les deux zones. En novembre 2018 par rapport à novembre 2017, les prix à la production industrielle ont augmenté de 4,0% dans la zone euro et de 4,3% dans l'UE28. Un communiqué de presse est disponible en ligne. (Pour plus d'informations: Lucía Caudet – Tél.: +32 229 56182; Mirna Talko – Tél.: +32 229 87278)

 

 

ANNOUNCEMENTS

 

 

Vice-President Dombrovskis in Riga to mark the anniversary of the euro

Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union, is in Riga on 7 and 8 January. He will give a keynote address, participate in a panel discussion and make closing remarks at the conference Five Years with the Euro. The fifth anniversary of Latvia joining the euro coincides with the 20th birthday of the common currency in 2019. The conference to mark this occasion, organised by the European Commission, allows policy makers, experts and civil society representatives to draw lessons from the journey so far and offer forward-looking ideas for the deepening of the European Monetary Union. It also marks the start of a series of Citizens' Dialogues in Members States to mark the anniversary of the euro. The event will be opened by Māris Kučinskis, Prime Minister of Latvia; speakers include European Central Bank Vice-President Luis de Guindos, Deputy Secretary General of the European Commission Ilze Juhansone, Deputy Director-General of DG FISMA John Berrigan and Bundesbank Executive Board Member Burkhard Balz. (For more information: Annika Breidthardt – Tel.: +32 229 56153; Annikky Lamp – Tel.: +32 229 56151)

 

 

 

CALENDAR: Commissioner's weekly activities

 

Upcoming events of the European Commission (ex-Top News)

MEX/19/101