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Which are the financial regulations for compliance in EU?
The EU's crucial financial regulations for compliance are MiFID II and GDPR. MiFID II ensures transparency and protects investors in banking and securities. GDPR safeguards personal data. AMLD combats money laundering, while BRRD resolves failing banks.
EU Banking: need for a strong Regulatory Framework
ECB Vice President Luis de Guindos stresses on finalizing EU banking package CRR3/CRD6 for the digital age. Citing US and Swiss banking issues, he underscores robust regulation, praises euro area banks' resilience, but warns against complacency.
EU Financial Decision: EDF Contributions
The European Commission has proposed a decision on 2023's contributions to the 11th EDF, following set rules and agreements. These contributions indicate long-term commitments to the EDF, requiring a Council decision within 21 days.
Digital Payment: Monopoly & Bank competition
The study reveals a digital payment monopoly can exploit households' privacy for creditworthiness assessment. This forces a privacy-credit trade-off and invites regulation due to the potential misuse of payment data by tech monopolists.
AI Act: European Regulation Amendments
Parliament and Council are debating AI Act amendments. Proposed changes include a 4-yearly impact report on AI development, deployment, pricing, and rights protection. The report will assess effects on consumers, SMEs, and AI investments, and scrutinize large platforms' compliance with EU rules.
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