Stricter rules for credit rating agencies to enter into force2013-06-18
Description:European Commission Press release Brussels, 18 June 2013 As of 20 June, credit rating agencies (CRAs) will have to follow stricter rules which will make them more accountable for their actions. The new rules also aim to reduce over-reliance on credit ratings while at the same time improving the quality...

New rules on credit rating agencies (CRAs) enter into force – frequently asked questions2013-06-18
Description:European Commission MEMO Brussels, 18 June 2013 I. GENERAL CONTEXT AND APPLICABLE LAW 1. What is a credit rating? A credit rating is an opinion issued by a specialised firm on the creditworthiness of an entity (e.g. an issuer of bonds) or a debt instrument (e.g. bonds or asset-backed securities).

Commission welcomes EIOPA report on Long-Term Guarantee Assessment for insurance sector2013-06-14
Description:European Press release Brussels, 14 June 2013 Commission The European Insurance and Occupational Pensions Authority (EIOPA) today published a report assessing a possible package of measures to facilitate the provision of insurance products with long-term guarantees under the new Solvency II insurance regulatory regime.

Commissioner Michel Barnier welcomes the trilogue agreement on the modernisation of the Professional Qualifications Directive2013-06-12
Description:European Commission MEMO Brussels, 12 June 2013 I congratulate the European Parliament and the Council on having reached agreement today on one of the priorities of the Single Market Act I. The modernisation of the Directive on professional qualifications is an important measure in our strategy to relaunch the European...

Commissioner Barnier welcomes European Parliament vote on the Accounting and Transparency Directives (including country by country reporting)2013-06-12
Description:European Commission MEMO Brussels, 12 June 2013 I welcome today's vote by the European Parliament on the new Accounting and Transparency Directives. Financial reporting obligations have been modernised and costs reduced, in particular for SMEs.

Revised Directive on transparency requirements for listed companies (Transparency Directive) – frequently asked questions2013-06-12
Description:European Commission MEMO Brussels, 12 June 2013 What are the existing EU rules on transparency for listed companies? The existing Transparency Directive (2004/109/EC) requires issuers of securities traded on regulated markets within the EU to ensure appropriate transparency through a regular flow of information to the markets.

New disclosure requirements for the extractive industry and loggers of primary forests in the Accounting (and Transparency) Directives (Country by Country Reporting) – frequently asked questions2013-06-12
Description:European Commission MEMO Brussels, 12 June 2013 What is the objective of the proposed country by country reporting requirement in the Accounting and Transparency Directives? The new Accounting Directive, repealing the Fourth and Seventh Accounting Directives on Annual and Consolidated Accounts (78/660/EEC and 83/349/EEC) introduces a new obligation for large...

Financial reporting obligations for limited liability companies (Accounting Directive) – frequently asked questions2013-06-12
Description:European Commission MEMO Brussels, 12 June 2013 1. What does this new Directive cover? As part of the Responsible Business package (see IP/11/1238), the Directive will reduce the administrative burden for small companies. To a certain extent, it will also improve the quality and comparability of the information disclosed. 2.

Speech - Financial regulation: laying sound foundations for stability and growth in Europe2013-06-07
Description:European Commission Michel BARNIER Member of the European Commission, responsible for Internal Market and Services Speech - Economic Ideas Forum Helsinki, 7 June 2013 Ladies and gentlemen, Let me first thank the Centre for European Studies, its President Wilfried MARTENS and its Director Tomi HUHTANEN for giving me the floor...

Statement by Commissioner Michel Barnier welcoming the agreement reached on the revision of the Transparency Directive2013-05-30
Description:European Commission MEMO Brussels, 30 May 2013 I congratulate the European Parliament, in particular the rapporteurs Arlene McCarthy and Klaus-Heiner Lehne, and the Council, in particular the Irish, Cypriot and Danish Presidencies on reaching this important agreement.