Tech giants may soon be under scrutiny by financial authorities

Tech giants may soon be under scrutiny by financial authorities

Having become essential for the banking or insurance sectors, cloud providers could in the future be directly supervised by European financial regulators. The European Commission presented a proposal in this direction last year. What if, tomorrow, the European financial policemen no longer supervised only the banks or the insurance companies, but also… the GAFA? This is still only a scenario, but the authorities are multiplying the messages in this direction. « It is up to…

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European authorities call on banks to prepare for the worst

European authorities call on banks to prepare for the worst

The European banking regulator fears that arrears will explode next year, with the end of measures to support the economy, and lead to bank balance sheets. To prevent these from closing the credit tap, the European Commission is preparing a system of “bad banks”. Strong turbulence in sight. The European Banking Authority (EBA), regulator of the sector, on Friday evening called on the banking sector to prepare for a possible explosion of unpaid loans (non-performing…

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Euronext publishes higher results in a tense context

Euronext publishes higher results in a tense context

The pan-European operator published quarterly net income up 10.6% for revenues which increased by 12.7%. Stéphane Boujnah, its CEO, spoke about the massive blackout that Euronext experienced on October 19, and the progress of the Borsa Italiana buyout process. A third trimester “Solid” for Euronext. The turnover of the pan-European stock exchange operator increased by 12.7% to 204.8 million euros, driven by post-market activities, and in particular the consolidation of the results of the Danish…

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Coronavirus: European funds face historic withdrawals

Coronavirus: European funds face historic withdrawals

Investors withdrew nearly € 290 billion from European open funds in March, a historic record. The flight of investors combined with the fall in the markets represents a double penalty for the sector. An unprecedented hemorrhage. European open funds accused nearly 290 billion euros of outflow in March, a historic record, according to Morningstar data provided exclusively to “Echoes”. Active or passive funds, ESG or not, all recorded outflows, often massive, over the past month….

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Management: costs in the sights of the market policeman

Management: costs in the sights of the market policeman

Feedbacks and integrated networks are in the sights of the European financial market regulator. A huge challenge for the sector, as individuals regularly pay twice as much as institutions in management fees. The distribution of savings products to individuals could experience a small revolution in the years to come. The European Securities and Markets Authority (Esma) has opened the door to a total ban on retrocommissions as part of the review of the European MiFID2…

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Regulators fear another liquidity crisis in Europe

Regulators fear another liquidity crisis in Europe

The flight of investors at the start of the crisis put European funds, particularly corporate debt and real estate funds, under pressure. Regulators want to ensure that a new wave of withdrawals does not jeopardize the stability of the financial industry. The wind of panic that shook the financial markets in March had a major impact on asset management. Supervisors gathered within the European Systemic Risk Board (ESRB) are now worried about the impact of…

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The European Commission presents a new European migration pact

The European Commission presents a new European migration pact

The European Commission presents this Wednesday its reform of migration policy, at the initiative of Chancellor Angela Merkel. The European Commission presents this Wednesday its reform of migration policy proposing to introduce among the Twenty-Seven a “compulsory solidarity mechanism” five years after the 2015 refugee crisis which saw Europeans tear themselves apart and disintegrate. This new pact proposes a sharing of the reception of the hundreds, sometimes thousands of people arriving each week on the…

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Covid-19: the EU calls on states to toughen their measures in the face of the second wave

Covid-19: the EU calls on states to toughen their measures in the face of the second wave

Faced with the second wave of the looming coronavirus epidemic, the European Union is urging States to toughen their health measures. The European Union calls on member states to toughen their control measures “immediately” in the face of new outbreaks of the Covid-19 epidemic to counter the second wave, Health Commissioner Stella Kyriakides said on Thursday. From tests and tracing to hospital capacities, “all States must immediately and in time deploy measures at the first…

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Brexit: EU will mark “insufficient” progress in talks with London

Brexit: EU will mark “insufficient” progress in talks with London

The leaders of the 27 member countries of the European Union, who will meet in the European Council on Thursday and Friday, will declare that the progress made in talks with the United Kingdom on their post-Brexit trade relations is still not “enough” to get a deal, according to a draft statement seen by Reuters. The leaders of the 27 member countries of the European Union, who will meet in the European Council on Thursday…

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European army: China denies being a threat

European army: China denies being a threat

China denied on Wednesday being a threat to Europe, after the words of French President Emmanuel Macron on a European army and the need to protect the continent, and in particular its cyberspace, against Beijing, Moscow and even Washington. China denied on Wednesday being a threat to Europe, after the words of French President Emmanuel Macron on a European army and the need to protect the continent against Beijing, Moscow and even Washington. “We have…

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