European Council Appoints New Commission With Effect from December 01
European Council appointed the new Commission for the period from December 01, 2019 to October 31, 2024. The Commission consists of one national from each member state, including the President and the High Representative of the Union for Foreign Affairs and Security Policy. According to Article 18(4) of the Treaty on the European Union, the new president of the Commission will be Ursula von der Leyen (Germany) and the High Representative of the Union for Foreign Affairs and Security Policy will be Josep Borrell (Spain), who will also be one of the Vice-Presidents of the Commission. The text of the Decision of the European Council (Article 1) lists the names of all appointees.
The Treaty on the European Union provides that the President, the High Representative of the Union for Foreign Affairs and Security Policy, and the other members of the Commission shall be subject as a body to a vote of consent by the European Parliament. On the basis of this consent, the Commission shall be appointed by the European Council, acting by a qualified majority. The decision follows the consent of the European Parliament to the new Commission as a body on November 27, 2019.
Related Links
Keywords: Europe, EU, Banking, Insurance, Securities, PMI, Joseph Borrell, EC President, Ursula Von Der Leyen, European Council
Previous Article
APRA Consults to Standardize Submission Date for Quarterly ReportingRelated Articles
HKMA Finalizes Policy Modules on Group-Wide Approach and Remuneration
The Hong Kong Monetary Authority (HKMA) revised the Supervisory Policy Manual module CG-5 that sets out guidelines on a sound remuneration system for authorized institutions.
EBA Guide to Monitor Threshold for Intermediate Parent Undertakings
The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).
PRA Finalizes Approach to Supervision of International Banks
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
FCA Issues PS21/9 on Implementation of Investment Firms Regime
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
EBA Proposes Regulatory Standards to Identify Shadow Banking Entities
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
IOSCO Proposes Recommendations on ESG Ratings and Data Providers
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
ESMA Group Issues Recommendations on RFR Switch in Interdealer Market
The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.
ECB Study Assesses Impact of Basel III Finalization Package
The European Central Bank (ECB) published a paper as well as an article in the July Macroprudential Bulletin, both of which offer insights on the assessment of the impact of Basel III finalization package on the euro area.
ISDA Finds FRTB Results in Higher Capital Charges for Carbon Trading
The International Swaps and Derivatives Association (ISDA) published a paper that explores the impact of the Fundamental Review of the Trading Book (FRTB) on the trading of carbon certificates.
PRA Updates Remuneration Policy Statement Templates and Tables
The Prudential Regulation Authority (PRA) published the remuneration policy self-assessment templates and tables on strengthening accountability.
