EU adopts tougher rules on money laundering

On Thursday 11 October, the Council adopted a new anti money laundering directive. This directive introduces new criminal law provisions which will disrupt and block access by criminals to financial resources, including those used for terrorist activities. The new rules include: establishing minimum rules on the definition of criminal offences and sanctions relating to money laundering. Money laundering … Continue reading EU adopts tougher rules on money laundering

European Commission presents comprehensive approach for the modernisation of the World Trade Organisation

The EU's approach to the World Trade Organisation (WTO) reform outlined in a document published today will be presented to EU partners in Geneva on 20 September during a meeting on that subject convened by Canada. The European Commission has today put forward a first set of ideas to modernise the WTO and to make … Continue reading European Commission presents comprehensive approach for the modernisation of the World Trade Organisation

Auditors publish Background Paper on EU competition policy enforcement

The European Court of Auditors has today published a Background Paper on the enforcement of the EU’s competition rules. Background Papers provide information on ongoing audit tasks and are designed as a source of information for those interested in the policy and/or programmes being audited. Today’s Paper is based on preparatory work for an audit … Continue reading Auditors publish Background Paper on EU competition policy enforcement

Stronger anti-money laundering supervision for a stable banking and financial sector – Questions and Answers

The Commission proposed today to further strengthen the supervision of EU financial institutions to better address money-laundering and terrorist financing threats. While the EU has strong anti-money laundering rules in place, recent cases involving money laundering in some EU banks have raised concerns that those rules are not always supervised and enforced effectively across the … Continue reading Stronger anti-money laundering supervision for a stable banking and financial sector – Questions and Answers

Antitrust: Commission fines four consumer electronics manufacturers for fixing online resale prices

The European Commission today fined, in four separate decisions, consumer electronics manufacturers Asus, Denon & Marantz, Philips and Pioneer for imposing fixed or minimum resale prices on their online retailers in breach of EU competition rules. The fines totalling over €111 million were in all four cases reduced due to the companies' cooperation with the … Continue reading Antitrust: Commission fines four consumer electronics manufacturers for fixing online resale prices

Pharmaceuticals: Commission refines intellectual property rules

The Commission is proposing a targeted adjustment to intellectual property rules to help Europe's pharmaceutical companies tap into fast-growing global markets and foster jobs, growth and investments in the EU. The EU has a strong intellectual property rights framework in place which protects Europe's know-how and sustains the pharmaceutical industry's world-class innovation capacity. To improve … Continue reading Pharmaceuticals: Commission refines intellectual property rules

Antitrust: Commission fines Qualcomm €997 million for abuse of dominant market position

The European Commission has fined Qualcomm €997m for abusing its market dominance in LTE baseband chipsets. Qualcomm prevented rivals from competing in the market by making significant payments to a key customer on condition it would not buy from rivals. This is illegal under EU antitrust rules. Commissioner Margrethe Vestager, in charge of competition policy, said: … Continue reading Antitrust: Commission fines Qualcomm €997 million for abuse of dominant market position