EC released a statement on the first 100 days of President Ursula von der Leyen Commission. Within its first 100 days, this EC focused on delivering its most important priorities set in the President's political guidelines. EC remains committed to driving the work on the twin transition, toward a green and digital Europe. EC also published the remarks by President Ursula von der Leyen at the press conference on the first 100 days of her mandate.
As early as day 11, EC presented a European Green Deal, a roadmap to stop climate change, cut pollution, and protect biodiversity. The European Green Deal is the new growth strategy. It also presented a European Green Deal Investment Plan, which should generate EUR 1 trillion of investments to support a green and modern EU economy. Resolution of the European Committee of the Regions with respect to the Green Deal in partnership with local and regional authorities has also been published in the Official Journal of European Union. The statement highlights the next steps toward a green Europe.
Additionally, the EC strategy for shaping the digital future of Europe covers everything from cybersecurity to digital education, from platforms to super-computing. It aims to help everyone seize the opportunities brought by technological change, within safe and ethical boundaries. It sets the path for developing cutting-edge yet trustworthy artificial intelligence in the EU, with proposals to come by the end of the year. It also lays out a Data Strategy to tap fully into the potential of data, for the benefit of people and businesses. The next steps toward a digital Europe include the following:
- A Digital Services Act, by the end of the year, to bring clearer responsibilities and modernized rules for online platforms
- New rules on artificial intelligence that respect human safety and rights
- A common standard for online digital identity for people and businesses
- New rules on cybersecurity of critical infrastructure and services
- Press Release
- Remarks by President von der Leyen
- Resolution of the European Committee of the Regions
Keywords: Europe, EU, Banking, Insurance, Securities, European Green Deal, Climate Change Risk, Cybersecurity, ESG, Artificial Intelligence, EC
Previous ArticleEC Issues Green Taxonomy Report, Green Bond Standard Usability Guide
Next ArticleESMA Publishes Supervisory Work Program for 2020
In a letter addressed to the industry, the Australian Prudential Regulation Authority (APRA) set out an updated schedule of policy priorities for the banking, insurance, and superannuation industries.
The European Commission (EC) adopted a comprehensive review package of Solvency II rules in the European Union.
The Office of the Comptroller of the Currency (OCC) issued Versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.
The European Central Bank (ECB) published results of its economy-wide climate stress test, which aimed to assess the resilience of non-financial corporates and euro area banks to climate risks.
The European Banking Authority (EBA) published a report on the use of digital platforms in the banking and payments sector in European Union.
The Hong Kong Monetary Authority (HKMA) published updates on the policy measures that were announced in context of the ongoing pandemic.
The International Swaps and Derivatives Association (ISDA), along with several other associations, submitted a joint response to the Basel Committee on Banking Supervision (BCBS) consultation on preliminary proposals for the prudential treatment of cryptoasset exposures.
BIS published the September issue of the Quarterly Review, which contains special features that analyze the rapid rise in equity funding for financial technology firms, the effectiveness of policy measures in response to pandemic, and the evolution of international banking.
The Basel Committee for Banking Supervision (BCBS) met in September 2021 and reviewed climate-related financial risks, discussed impact of digitalization, and welcomed efforts by the International Financial Reporting Standards (IFRS) Foundation to develop a common set of sustainability reporting standards
The Office of the Comptroller of the Currency (OCC) issued a Cease and Desist Order against MUFG Union Bank for deficiencies in technology and operational risk governance.