The European Commission proposes a two-track overhaul to make life simpler for smaller investment firms, while bringing the largest, systemic ones under the same regime as European banks. Investment firms and the services they provide are vital to a well-functioning Capital Markets Union (CMU). Alongside banks, EU capital markets rely
Tag: Derivatives
Antitrust: Euro interest rate derivatives cartel?
The European Commission has informed Crédit Agricole, HSBC and JPMorgan of its preliminary view that they may have breached EU antitrust rules by colluding to influence the pricing of interest rate derivatives denominated in the euro currency. The sending of a statement of objections does not prejudge the final outcome
Financial Transaction Tax
The Economic and Monetary Affairs Committee stood by its guns on Tuesday in supporting the Commission's proposal for a wide-scope financial transaction tax, with stocks and bond trades taxed at 0.1% and derivatives trades taxed at 0.01% in 11 EU countries. The committee proposed lower rates until January 2017 for