European Commission (EC) News

Big Tech Lobby Seeks EU Liability Cover to Tackle Hate Speech, Illegal Content

Big technology platforms are calling on the European Union to protect them from legal liabilities for removing hate speech and illegal content as government scrutiny over how platforms manage user posts grows worldwide. A safeguard protecting companies that actively manage …

EU Wants Better Self-Regulation by Facebook, Google, Twitter; Plans Liability Changes

Two years after agreeing to a self-regulatory code of practice to tackle disinformation, Facebook, Alphabet’s Google, Twitter and other tech rivals must try harder to be more effective, the European Commission said on Thursday. Fake news related to COVID-19 has …

EU to Ease Capital Regulations for Banks & Insurers to Revive Growth

The European Union will ease capital rules it has imposed on banks and insurers since the financial crisis to help markets raise more funds for reviving sluggish economic growth. The bloc’s financial services chief, Jonathan Hill, announced his “action plan” …

Bermuda Adopts Solvency II ‘Equivalency’ Measures for ‘Open Insurance Markets’

A bulletin from Bermuda notes that the island’s parliament took regulatory action this week to align its regulatory insurance procedures, which it hopes will lead to “recognition by the European Commission as being fully equivalent under the insurance prudential regulatory …

UK Elects the Conservatives, but Question of EU Status Remains

“Heavy Fog In Channel. Continent Cut Off.” That often quoted newspaper headline, which dates from at least the 1930’s, captures the ambivalent feelings the British have about their European neighbors. Despite seismic changes, there’s still a significant portion of the …

EU Mounts Fresh Bid to End U.S. Reinsurance Collateral Rule

The European Union will mount a fresh bid to persuade the United States to free up the billions of euros in collateral it requires foreign reinsurers to set aside against policies. EU states agreed on Tuesday to give the bloc’s …

FERMA Calls on EC to Renew Insurance Block Exemption Regulation

In a response submitted to the European Commission on Tuesday 4 November, the Federation of European Risk Management Associations (FERMA) has called for renewal of the Insurance Block Exemption Regulation (IBER) for (re)insurance pools, citing the need for the largest …

EU Eases Insurers’ Capital Rules to Lure Infrastucture Investments

Insurers are attracting the attentions of European Union policy makers who are trying to spur investment in long-term infrastructure projects needed to undergird the regions stuttering economic recovery. The European Commission, the EU’s executive arm, will publish capital rules for …

EC Consults on Functioning, Future of Insurance Anti-Trust Block Exemption

The European Commission (EC) has issued a questionnaire to seek the views of stakeholders on the functioning and the future of the Insurance Block Exemption Regulation (IBER), which exempts certain agreements between companies in the insurance sector from EU antitrust …

Report: Former EU Banker Urges Reactivate Securitization to Enhance Credit

Jacques de Larosiere says he is an isolated and modest man. Yet the 84-year-old former head of the International Monetary Fund is one of the most influential voices in European and global finance. An eminence grise as respected among France’s …