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March Update: Financial Services

1 March 2019

What's on the agenda this month

by Jeroen DeMarteau, Financial Services Policy Executive

Romania Presidency Briefing

The ECON Committee on 4 March is set to vote on the cross-border distribution of collective investment funds package. On 21 March it is scheduled to vote on the proposal regarding sovereign bond-backed securities. The Plenary Session of the European Parliament is set to debate and vote on the proposals regarding minimum loss coverage for non-performing loans as well as CCP recovery and resolution on 25 March. It was also set to debate and discuss the sustainable finance taxonomy proposal, but with the committee vote that was supposed to take place on 20 February being postponed to a later undetermined date, this seems less and less likely.

Meanwhile, the ECOFIN Council meeting on 12 March will focus on taxation. More specifically the Council will hold a policy debate on digital taxation and hope to reach a general consensus on VAT implementing rules on e-commerce.

Finally, on the side of the European Commission, Vice-President Dombrovskis and Vice-President Katainen are set to publish a Progress Report on the Capital Markets Union on 12 March.

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Jeroen DeMarteau, Financial Services Policy Executive
Jeroen DeMarteau
Financial Services Policy Consultant

Jeroen leads on the Financial Services portfolio. He was previously a Policy Officer at the Belgian Embassy in Berlin. He graduated in Law from the KU Leuven in Belgium and held several leadership positions within the European Youth Parliament, both in Belgium and on an international level.