Select network This sample essay will discuss the European Union, a fascinating supranational entity that has helped integrate Europe into something resembling a cohesive entity on the international scene. Institutions and Politics of the European Union Part The European Union EU is often described as a supranational union, or a loosely organized federation of nation-states that elect officials into organizations that make legislative, executive and judicial decisions on behalf of everyone.
Get Full Essay Get access to this section to get all help you need with your essay and educational issues. And the pace of change is accelerating.
Of course, technology and globalisation sit alongside the euro as drivers of change. But for Europe the euro is an additional and unique factor Patel Private sector bond issues are increasing rapidly by market value, and newly admitted companies raised over billion euros in European markets inmore than twice the figure.
In MayThe European Commission put forward a host of ambitious policy objectives and specific measures for improving the Single Market for financial services in the EU over the next five years. The Commission stresses the importance of completing this Financial Service Action Plan FSAP by the deadline, especially in light of a recently-commissioned study that suggests integration of financial markets could add 0.
The Commission also says that an integrated well-functioning home market will improve the global competitiveness of EU financial service providers and attract more foreign investors. It will also strengthen the international role of the Euro.
Consequently, the Commission proposal is likely to cover terrorist financing, shell banks, referrals, politically-exposed persons, issues regarding the introduction of clients, transparency and beneficial ownership.
The forty recommendations have provisions on customer due diligence and record-keeping, for example, stipulating that financial institutions should not keep anonymous accounts or accounts under obviously fictitious names.
FATF is the inter-governmental body that sets international standards on money-laundering. Since the FSAP was adopted, a number of changes to the financial and political climate have caused the Commission to re-think its strategy slightly and call for tougher regulation in Europe.
The terrorist attacks on the United States last September shook the insurance sector, and called into question whether existing EU rules on insurance solvency are sufficient to protect policy-holders.
It was taking longer than expected to reach a deal on a new streamlined Directive on prospectuses for entry to stock exchanges, in part because of concern that the proposed legislation may not be tough enough. The Commission originally hoped to have the new Directive adopted by the end ofbut political wrangling among Finance Ministers suggests that final approval now looks more likely in He added that the CCBE, which had meetings with the Commission on the third Directive, is not expecting these issues to be raised in the new proposal and that its focus will remain narrow.
The organisation is still assessing whether the FATF obligations on reporting suspicious transactions are stricter than those of the Directive.
The first is a study to be carried out in on the need for EU legislation to oblige each Member State to register all bank accounts.
It aims at making it easier to raise capital across borders by providing a single EU passport, and removing the need for companies to publish separate prospectuses the disclosure document containing all the necessary information to enable investors to make a correct assessment of the assets and liabilities of publicly-traded bonds and shares in each EU market.
Before the end of the yearthe European Commission hoped to put forward a proposal for new legislation on the information that publicly-traded companies must disclose. The contents of the proposal will draw on the two rounds of consultation that the Commission has recently held.
The Commission hoped that the new Directive on market abuse will be adopted before the end of It put forward new proposals for a Directive on insider dealing and market manipulation in Maysetting out common rules against market manipulation throughout Europe in order to strengthen investor confidence in these markets.
The European Parliament gave its Opinion on the draft Directive on March 14, and the Council adopted its common position on July 19, The Commission argues that new rules are needed because some EU Member States have weak provisions or none at all, leading to a patchwork of regulations and hindering the creation of an integrated financial market.
The Commission hopes that the new Directive will be adopted by mid The review will concentrate on two key areas: The Directive entered into force on December 11, and the Commission says all Member States have now implemented it Mayan The Directive aims to reduce the systematic risk associated with payment and securities settlement systems, especially the risk linked to the insolvency of a participant in such a system.
To this end, the Directive contains provisions for cross-border orders, insolvency proceedings, and collateral security Smith The Commission has been trying to get a new Directive on takeover bids adopted for almost 13 years, and is still having problems.Essay on The European Union - The European Union Abstract ===== This paper is about the EU, its major policies, the key objectives, legislations, instruments for implementing those policies, who the members are, and the institutions involved in the implementation of the trade goals.
The European Union Banking Law Essay Sample. Europe’s financial services sector is rapidly developing. Universal banks, investment banks, insurance companies, `bancassurance’ conglomerates, card issuers and payment systems, back offices and front offices – all are affected.
Essay on The European Union - The European Union Abstract ===== This paper is about the EU, its major policies, the key objectives, legislations, instruments for implementing those policies, who the members are, and the institutions involved in the implementation of the trade goals.
The European Union An Overview Law European Essay The European Union: An Overview In , six countries; Belgium, France, Italy, the Netherlands, Germany and Luxembourg, signed the Treaty of Paris, effectively starting the European Coal and Steel Community (ECSC), a union proposed in by the French foreign minister Robert Schuman in the Schuman Declaration (4).
The European Union is an intricate combination of several frameworks such as the parliamentary system and the regulatory structure. The ECJ, which was instrumental in establishing the EU, strives hard to promote democracy in the EU.
This essay has been submitted by a law student. This is not an example of the work written by our professional essay writers. EUROPEAN UNION LAW SEMESTER ESSAY.