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Regulating Fintech in Europe: Lessons from the collapse of Wirecard
November 22, 2020--The default of Wirecard highlights several problems in the regulation and supervision of Fintech companies, with regulatory holes in investor protection, customer protection, and financial stability. This column argues that since Fintech companies can be very complex, their oversight requires understanding their business model and combining regulation and supervision based on both entities and activities.
The global reach of Fintechs also calls for better coordination at the European level and beyond, but the authors do not see the need for new regulatory body to oversee Fintechs in Europe.view more
Source: voxeu.org
European weekly ETF inflows hit highest level this year
November 20, 2020--Euphoria over covid-19 vaccine progress sparks dash for equity funds
Europes exchange exchanged funds have actually enjoyed their particular highest once a week web inflows since December 2019 amid the euphoria surrounding a possible covid-19 vaccine.
Equity ETFs sold in Europe struck 5bn in web inflows a week ago, undoubtedly top product sales overall performance this present year, based on Morningstar data.
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Source: offshorecorporatesource.com
Lyxor completes the integration of Commerzbank's asset management activities with launch of new branch in Germany
November 20, 2020--Lyxor announces today that it has completed the integration of Commerzbank's asset management activities and of its EUR 16bn in assets under management, following the purchaseof Commerzbank's Equity Markets & Commodities business by its parent company Societe Generale Group in November 2018.
As part of this integration, Lyxor has opened an asset management branch in Germany, Lyxor International Asset Management SAS Deutschland (LyxorDeutschland), based in Frankfurt am Main. Lyxor Deutschlandbrings all of Lyxor's own active and passive investment activities in Germany and Commerzbank's EMC asset management business under one roof -including notably the ComStage range, one of the leading ETF providers in German retail banking
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Source: Lyxor Asset Management
The evolution of European economic institutions during the COVID-19 crisis
November 19, 2020--This article argues that the incomplete economic and institutional integration of the euro area has exposed the monetary union to increasing economic divergence, which could be deepened by the COVID-19 crisis. We discuss how monetary and fiscal measures implemented at the onset of the pandemic have contributed to mitigate the economic consequences of lockdowns, but provided limited insurance to narrow economic gaps across member countries.
However, EU countries agreed on July 21, 2020 to develop, for the first time, countercyclical fiscal transfers financed by common debt issuance. We discuss the potential of this instrument to contribute to improve the resilience of the eurozone.
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Source: bruegel.org
The impact of the new Asian trade mega-deal on the European Union
November 19, 2020--Although the economic implications of the Regional Comprehensive Economic Partnership (RCEP) for the EU are modest, the geopolitical and strategic implications are not. With the arrival of a new US administration and the central role of China in the bloc, the EU needs to outline an Asian commercial strategy that reconciles the importance of China and the transatlantic relationship.
The 15 November agreement to form the Regional Comprehensive Economic Partnership (RCEP) between the 10 members of ASEAN and Australia, China, Japan, Korea and New Zealand has only modest immediate economic effects for the European Union. However, with China playing a central role in the new arrangement, the long-term strategic and geopolitical implications are major. Europeans tend to look inwards and when they look outwards tend to look mainly west, riveted, for example, by the recent US elections. But, increasingly, most economic activity, most economic growth and some of the more significant geopolitical shifts are occurring in the east.
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Source: bruegel.org
Thanks for polluting the planet: emails blamed for climate change
November 18, 2020-UK research suggests 'unnecessary' online small talk is increasing carbon emissions
British Officials focusing on plans to deal with climate modification have actually alighted on a menace to your planet: an incredible number of unnecessary emails delivered every single day, including those that say-nothing more than thanks a lot
The UK, which is hosting the UN COP26 Weather Change Summit in Gglasgow the following year, is looking at revolutionary ways to reduce carbon emissions additionally the impact kept by internet users has attracted its attention.
Officials have now been specially taken by study recommending that more than 64m unnecessary emails are delivered by Britons day-after-day, pumping lots and lots of tonnes of carbon into the environment because of the ability they consume.
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Source: offshorecorporatesource.com
Forecasts for the UK economy: November 2020
November 18, 2020--A comparison of independent forecasts for the UK economy in November 2020.
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Source: gov.uk
ESMA publishes first overview of the size and structure of EU securities markets
November 18, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, today published its first statistical report on European Union (EU) securities markets.
The Report uses new regulatory data sources to give, for the first time, a comprehensive overview of European equity and bond markets in 2019, including the number, characteristics, volumes traded and transparency data on the equity and bond instruments subject to MiFID II.
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Source: ESMA
ECB-Euro area financial vehicle corporation statistics: third quarter of 2020
November 17, 2020--In third quarter of 2020 outstanding amount of debt securities issued by euro area FVCs engaged in securitisation decreased to €1,539 billion, from €1,547 billion in previous quarter
Net redemptions of debt securities by FVCs during third quarter of 2020 amounted to €5 billion
Euro area FVCs disposed €18 billion of securitised loans in third quarter of 2020, with outstanding amounts totalling €1,231 billion
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Source: ECB
Deutsche Borse AG: Agreement on acquisition of majority stake in Institutional Shareholder Services Inc. (ISS)
November 17, 2020--Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP- a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Deutsche Börse AG ("Deutsche Börse") has entered into binding agreements on the acquisition of Institutional Shareholder Services Inc. ("ISS"), which is a leading governance, ESG data and analytics provider.
Deutsche Börse will acquire a majority stake of approximately 80% in ISS. Genstar Capital LLC and the current management of ISS will continue to hold approximately 20% in ISS. The transaction is based on an ISS valuation of USD 2,275 million (EUR 1,925 million) cash-and-debt free for 100%. Deutsche Börse plans to finance the acquisition by around EUR 1 billion of debt and the remainder with cash.
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Source: Deutsche Börse Group
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