On 5 March 2019, the European Insurance and Occupational Pensions Authority (EIOPA) and all national competent authorities (NCAs) of the European Economic Area (EEA) with competencies in insurance agreed memoranda of understanding (MoUs) with the Bank of England in its capacity as the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) of the United Kingdom (UK).

The MoUs took effect on 1 January 2021, at the end of the transition period following the departure of the UK from the European Union.

The following MoUs were agreed:

• A multilateral MoU on supervisory cooperation, enforcement and information exchange between the EEA NCAs and the UK Authorities.
• A bilateral MoU between EIOPA and the UK Authorities on information exchange and mutual assistance in the field of insurance regulation and supervision.

These MoUs ensure cooperation in the fields of insurance prudential and conduct supervision, for mutual assistance and regular exchange of information.

In addition, EIOPA has agreed a multilateral memorandum of understanding with the Pensions Regulator, which also came into effect on 1 January 2021.

Visit the dedicated webpage for more information related to the UK’s departure from the European Union.

The authorities in Hong Kong arrested over 50 people on 6 January 2021 on charges pursuant to the National Security Law (NSL). The charges in question relate to the holding in July 2020 of pro-democracy primary elections aimed at identifying candidates for the next Legislative Council elections. Those arrested include former opposition lawmakers and civil society activists.

These arrests penalise political activity that should be entirely legitimate in any political system that respects basic democratic principles. They are the latest indication that the National Security Law is being used by the Hong Kong and mainland authorities to stifle political pluralism in Hong Kong, and the exercise of human rights and political freedoms that are protected under Hong Kong law and international law.

The EU calls for the immediate release of those arrested. The EU urges the authorities to respect Hong Kong’s rule of law, human rights, democratic principles and high degree of autonomy under the ‘One Country, Two Systems’ principle, as enshrined in the Hong Kong Basic Law and in line with domestic and international obligations.

January 07, 2021 Learning

EUIPO’s Academy Tuesday webinars: January 2021

The Academy is pleased to announce the Tuesday Webinar, dedicated to IP, live broadcasts scheduled for January 2021:

During the Learning week of the EPO, the Academy will also organize a soft skills webinar on “Online moderation”:

You can consult the Learning Portal Calendar for additional and updated information. Please note that one day after the broadcast, the recorded webinars will be available at the same link.
Do you have any comments on the Tuesday Webinar programme? Please share them with us Academy@euipo.europa.eu.

Through the MOU, ESMA and the CFTC express their desire for enhanced cooperation as to the larger U.S. CCPs operating in the European Union with provisions that expand upon the collaboration set out in the 2016 CFTC-ESMA MOU related to recognized CCPs. The MOU reflects ESMA’s and the CFTC’s commitment to strengthening their mutual cooperative relationship, which has continued to flourish under the leadership of Chair Steven Maijoor and Chairman Heath P. Tarbert. 

“We look forward to building upon our strong relationship with ESMA and embarking upon a cooperative relationship with ESMA’s new CCP Supervisory Committee,” said Suyash Paliwal, Director of the CFTC’s Office of International Affairs. “The deferential approach embodied in this MOU is a major milestone in the years-long engagement between the CFTC and its EU counterparts on the implementation of EMIR as amended.”

“I am pleased to see ESMA entering a phase of closer cooperation with the CFTC,” said Chair of ESMA’s CCP Supervisory Committee Klaus Löber. “This MOU sets out the basis for the enhanced collaboration between our institutions and is an important step towards building the risk-based and outcome-focused supervision of CCPs in accordance with the amended European Market Infrastructure Regulation.”

EMCDDA, Lisbon, December 2020