EU level agreements regarding measures to combat fiscal fraud are not enough, and there should be a mechanism to isolate countries that do not automatically provide tax information, according to IHE, the organisation that represents Spain’s Inspectors of Inland Revenue.
News that European Commissioner Barnier has confirmed that a Directive for pension schemes will not include solvency requirements has been welcomed by JP Morgan Asset Management.
The encroachment of the proposed European Financial Transaction Tax has sparked significant and growing concern among asset managers based in the 11 EU member states set to be hit by the measure in 2014.
Manuel Barroso, the president of the EC, has told an audience in Moscow today that Russia was not informed of the Eurogroup decision to tax depositors in Cyprus “because the governments of Europe were not informed.”
The adoption of a Financial Transaction Tax (FTT) across 11 EU member states, announced today by the European Commission, has been criticised by the UK’s Investment Management Association (IMA).
The French government has warned it could take action if derivatives are used to evade its new tax on cash equity transactions.
The European Council discussions around banking union and future regulation of Europe’s banking sector have been outlined by European Commission president Barroso and European Council president van Rompuy in a Q&A session.
Speaking at today’s Tripartite Social Summit, European Council president Herman van Rompuy and EC president Manuel Barroso stressed the focus on growth needed to match austerity measures currently in place across the region.
Nearly three-quarters (72%) of surveyed managers view the Alternative Investment Fund Management Directive (AIFMD) as a business threat, according to a survey from Deloitte LLP, the business advisory firm.
The European Commission is consulting on potential changes to the UCITS framework with improvements to the regulation of money market funds, short-termism and harmonising the investment industry’s approach to fund redemptions among the items on the agenda.
As Europe’s structured products professionals await the publication of the final version of the European Commission’s Packaged Retail Investment Products regulation, the debate about what it should and should not include still rages
Spain’s move to seek assistance from the EU to recapitalise its banking sector has been welcomed by Olli Rehn, vice-president of the EC in charge of Economic and Monetary Affairs and the euro.