ESMA updates Q&A on MAR

The purpose of the Q&A document is to promote common supervisory approaches and practices in the application of MAR and its implementing measures. Today’s Q&A include an update of the Q&A clarifying the scope of firms subject to the MAR provision to detect and report suspicious orders and transactions and new detailed answers on:

  • the scope of the financial instruments subject to the market sounding regime under MAR; and
  • the persons subject to the insider list requirements.

MAR is intended to guarantee the integrity of European financial markets and increase investor confidence. Any unlawful behaviour in the financial markets is prohibited. The concept of market abuse typically consists of insider dealing, unlawful disclosure of inside information, and market manipulation.

Daily News 31 / 08 / 2017

Émissions polluantes des voitures: de nouveaux tests plus réalistes obligatoires à partir du 1er septembre

À partir de demain, 1er septembre, les nouveaux modèles de voitures devront passer des tests d’émissions révisés, plus fiables, avant de pouvoir circuler en Europe. Les émissions d’oxydes d’azote et d’autres particules, qui sont une des causes principales de la pollution de l’air, seront mesurées dans des conditions de conduite réelles (procédure RDE). Ce test sera complété par de nouveaux tests en laboratoire plus réalistes (procédure WLTP) pour toutes les émissions incluant le CO2 et la consommation de carburant ainsi que les émissions d’oxydes d’azote et d’autres particules. Ces nouvelles méthodes de mesure d’émissions sont un élément important de l’action de la Commission pour une industrie automobile plus responsable, compétitive et respectueuse de l’environnement. Jyrki Katainen, vice-président en charge de l’emploi, de la croissance, de l’investissement et de la compétitivité, a déclaré: “Ces nouvelles méthodes de mesure d’émissions représentent une étape majeure dans notre action pour s’assurer que nos voitures soient, d’ici aux prochaines années, plus propres et plus respectueuses de l’environnement. Mais il reste beaucoup à faire. Le scandale des émissions a montré que nous avons besoin de davantage d’indépendance dans les tests sur les voitures, plus de surveillance de marché et la possibilité pour la Commission d’intervenir en cas d’abus. La Commission a présenté en janvier 2016 une proposition ambitieuse dans ce sens. Elle est sur la table depuis et il est grand temps que le Parlement européen et le Conseil l’adoptent. Nous avons également besoin de poursuivre de façon décisive les efforts au niveau européen pour encourager les solutions de mobilité à faible taux d’émissions.” Elżbieta Bieńkowska, commissaire pour le marché intérieur, l’industrie, l’entrepreneuriat et les PME, a ajouté: “Une évolution rapide vers des véhicules à faibles émissions est dans notre intérêt à tous étant donné que la santé publique et les risques environnementaux sont directement concernés. C’est également un enjeu crucial pour l’industrie automobile si elle veut rester compétitive au niveau mondial. Pour le moment, les voitures diesel font encore partie de notre quotidien et nous devons restaurer la confiance dans cette technologie. C’est pour cela que des tests plus réalistes pour les nouvelles voitures sont nécessaires. Pour celles qui roulent déjà sur nos routes, les États membres doivent prendre leurs responsabilités, appliquer la loi et prendre des mesures supplémentaires, avec les acteurs du secteur, pour réduire leurs émissions”. Un communiqué de presse, un MÉMO sur les différentes actions de l’UE pour réduire la pollution de l’air causée par les voitures, ainsi que des clips vidéo sur la manière dont les nouveaux tests sont réalisés, sont disponibles en ligne. (Pour plus d’informations: Lucia Caudet – Tel.: + 32 229 56182; Mirna Talko – Tel.: +32 229 87278; Maud Noyon – Tel.: +32 229 80379)

Investment Plan supports medical research, digital innovation and small businesses

The Investment Plan continues to deliver. Over the last week, the Plan’s European Fund for Strategic Investments (EFSI) has backed finance for digital innovation in Sweden, access to finance for small businesses in Poland and medical research in Austria. The European Investment Bank (EIB) is providing Swedish software developer inRiver with €8 million in financing to invest in research and development, expand its market reach and grow its customer base. The European Investment Fund (EIF) and national promotional bank Bank Gospodarstwa Krajowego (BGK) are doubling the size of their loans to Polish SMEs to PLN 2 billion (ca. €500 million). The loans are expected to reach close to 10,600 small businesses and entrepreneurs across Poland. The EIB is providing €25 million of financing to Austrian biotech company Apeiron Biologics to support the development of new pharmaceutical products to treat cancer, particularly a rare type affecting children. This is the second medical research project to be signed in recent weeks, after the EIB agreed a €35 million loan to German medical device company MagForce to support the development of a new approach to treating brain tumours. This new approach makes it possible to combat the tumour from within, while sparing surrounding healthy tissue. All of these agreements were made possible through the support of the Investment Plan for Europe, the so-called Juncker Plan. European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “These transactions demonstrate the diversity, quality and impact of the investments made possible by the European Fund for Strategic Investments. Whether it is through supporting medical research projects or helping small businesses access the finance they need to expand and create jobs, the Investment Plan is delivering real results across the EU. A final agreement on the extension and reinforcement of the EFSI will allow it to do even more. Therefore we look forward to a swift conclusion to the negotiations by the co-legislators.” The Investment Plan is now expected to trigger over €225 billion across Europe. For the latest figures country-by-country, see here. (For more information: Annika Breidthardt – Tel.: +32 229 56153; Siobhán Millbright – Tel.: +32 229 57361)

 

State aid: Commission asks Spain to recover €5.8 million from Iberpotash

The European Commission has asked Spain to recover €5.8 million of illegal State aid granted to Iberpotash S.A. (renamed ICL Iberia Súria & Sallent in 2014), a company which operates various mines of potash in Catalonia. The Commission’s in-depth investigation found that Iberpotash benefitted from two illegal support measures: unduly low financial guarantees for the restoration of its mining sites in Súria and Balsareny/Sallent, and full public funding of a €7.9 million investment to cover a waste heap in Vilafruns. As regards the first measure, mining companies must provide guarantees to public authorities that can be drawn on to restore the environmental conditions of the site they operate. This ensures that these costs are not shifted on to the State, if the mining company fails to meet its environmental protection obligations. In the case of the guarantees provided by Iberpotash for Súria in 2006 and Balsareny/Sallent in 2008, Spanish national courts have found that restoration costs for the sites had been set at an unjustifiably low level. Indeed, in 2016 the regional environmental authorities estimated the costs and set the guarantees at a significantly higher level. As regards the second measure, regional authorities financed the entire investment cost to reduce the negative environmental impact of the waste heap in Vilafruns in 2008 and 2009. EU rules do allow State aid to cover part of the investment costs incurred in improving environmental conditions beyond mandatory levels, but still require Iberpotash to bear 50% of such costs. As a result of both support measures, Iberpotash did not have to bear the costs of environmental protection that competing mining companies have to bear in the Union, thus gaining an undue competitive advantage. On this basis,the Commission concluded that Iberpotash must pay guarantee fees reflecting the true remediation costs of its sites until 2016 and also return the excess investment costs that were entirely borne by the public authorities.In line with its standard practice, the Commission is asking Spain to recover from Iberpotash these amounts, totalling €5.8 million. More information will be available on the Commission’s competition website, in the public case register under the case number SA.35818.(For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Sarantopoulou – Tel.: +32 229 13740)

 

Concentrations : La Commission autorise l’acquisition du contrôle conjoint de deux hôtels en Italie par BNP Paribas et Starwood.

La Commission Européenne a approuvé, en vertu du règlement européen sur les concentrations, l’acquisition du contrôle conjoint des hôtels Westin Palace de Milan et Westin Europa & Regina de Venise par le groupe BNP Paribas (France) et par Starwood Hotels & Resorts Worldwide, LLC (Etats-Unis). BNP Paribas est un fournisseur de services bancaires et financiers, en France et à l’international. Starwood est une filiale du groupe Marriott, groupe hôtelier actif dans le monde entier. La Commission a conclu que la concentration envisagée ne soulèverait pas de problème de concurrence, car BNP Paribas ne possède ni ne gère d’hôtels en Italie. La transaction a été examinée dans le cadre de la procédure simplifiée de contrôle des concentrations. De plus amples informations sont disponibles sur le site internet concurrence de la Commission, dans le registre public des affaires sous le numéro d’affaire M.8598. (Pour plus d’informations: Ricardo Cardoso – Tel.: +32 229 80100; Maria Sarantopoulou – Tel.: +32 229 13740)

 

Concentrations: la Commission autorise l’acquisition de Primonial Holding par Bridgepoint

La Commission européenne a approuvé, en vertu du règlement européen sur les concentrations, l’acquisition de contrôle exclusif de Primonial Holding, société mère du groupe Primonial (France), par Bridgepoint (Royaume-Uni). Primonial Holding est contrôlée conjointement par Crédit Mutuel Arkéa et Bridgepoint. Primonial Holding exerce une activité de gestion de patrimoine en France. Bridgepoint est un fonds de capital-investissement. La transaction concernait des marchés de services d’assurance, bancaires et immobiliers. La Commission a conclu que l’acquisition envisagée ne soulèverait aucun problème de concurrence, car les chevauchements entre les activités des entreprises sont très limités. La transaction a été examinée dans le cadre de la procédure simplifiée du contrôle des concentrations. De plus amples informations sont disponibles sur le site internet concurrence de la Commission, dans le registre public des affaires de concurrence de la Commission, sous le numéro M.8587. (Pour plus d’informations: Ricardo Cardoso – Tel.: +32 229 80100; Maria Sarantopoulou – Tel.: +32 229 13740)

Concentrations : La Commission autorise l’acquisition du contrôle conjoint d’une entreprise nouvellement créée par les sociétés ProSiebenSat.1, TF1 et Mediaset

La Commission européenne a approuvé, en vertu du règlement européen sur les concentrations, l’acquisition du contrôle en commun d’une entreprise nouvellement créée sous forme d’entreprise commune par les sociétés ProSiebenSat.1 Media SE (Allemagne), Télévision Française 1 S.A. (France), appartenant au groupe Bouygues, et Mediaset S.p.A. (Italie). L’entreprise commune sera active dans le marchandisage et vente, au niveau pan-européen, de l’inventaire publicitaire vidéo affiché avant, pendant et après le contenu vidéo disponible sur les médias numériques exploités par les parties ou par des tiers. La Commission a conclu que la concentration envisagée ne soulèverait pas de problème de concurrence, compte tenu de son impact très limité sur la structure du marché sur le territoire de l’Espace économique européen. La transaction a été examinée dans le cadre de la procédure simplifiée de contrôle des concentrations. De plus amples informations sont disponibles sur lesite internet concurrence de la Commission, dans le registre public des affaires sous le numéro d’affaire M.8409. (Pour plus d’informations: Ricardo Cardoso – Tel.: +32 229 80100; Maria Sarantopoulou – Tel.: +32 229 13740)

 

Eurostat: Le taux de chômage à 9,1% dans la zone euro

Dans la zone euro (ZE19), le taux de chômage corrigé des variations saisonnières s’est établi à 9,1% en juillet 2017, stable par rapport à juin 2017 et en baisse par rapport au taux de 10,0% de juillet 2016. Il s’agit du taux le plus faible enregistré dans la zone euro depuis février 2009. Dans l’UE28, le taux de chômage s’est établi à 7,7% en juillet 2017, stable par rapport à juin 2017 et en baisse par rapport au taux de 8,5% de juillet 2016. Cela demeure le taux le plus faible enregistré dans l’UE28 depuis décembre 2008. Ces chiffres sont publiés par Eurostat, l’office statistique de l’Union européenne. Un communiqué de presse est disponible ici. (Pour plus d’informations: Johannes Bahrke – Tel.: +32 229 58615; Sara Soumillion – Tel.: +32 229 67094)

ANNOUNCEMENTS

Commissioner Hahn in Budapest for the preparation of the Eastern Partnership Summit

Johannes Hahn, Commissioner for European Neighbourhood Policy and Enlargement Negotiations is in Budapest, Hungary, today to participate at the informal Eastern Partnership V4 ministerial meeting. The meeting is organised by the Visegrád Group and will focus on the preparation of the upcoming Eastern Partnership Summit (that will take place on 24 November in Brussels), as well as on stepping up cooperation on energy infrastructure, including energy efficiency. Commissioner met this morning with Ministers of Foreign Affairs of the Visegrád Group – Czech Republic, Hungary, Poland and Slovakia – and of the Eastern Partnership countries – Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova and Ukraine. Earlier this morning, Commissioner Johannes Hahn said: “The upcoming Summit will be an opportunity to build on our achievements and to inject new dynamism into our relations. Differentiation and ownership remain pivotal in our engagement. Following this approach we have achieved crucial results such as three Association Agreements including their Deep and Comprehensive Free Trade Areas (DCFTA), the agreement we have negotiated with Armenia and the ongoing negotiations with Azerbaijan. Also, we are working full speed to implement and update the “20 deliverables for 2020“, which results have an important impact on the life of the people.  More must be done, our work and engagement has to continue and a non-confrontational nature of the Partnership is crucial for our joint success.” The full speech is available online.(For more information: Maja Kocijancic – Tel.: +32 229 86570; Alceo Smerilli – Tel.: +32 229 64887)

European Commission appoints new Head of Regional Office in Milan

Mr Massimo Gaudina has been appointed the new Head of the European Commission’s Regional Office in Milan. Mr Gaudina, an Italian national, will take up office on 1 September 2017. He brings over 30 years of experience, of which over 20 years of institutional communications in the EU context. In his role, Mr Gaudina will represent the European Commission and will encourage the debate on EU issues, mainly in Northern Italy. More information is available in the press release here (also in IT, FR and DE). (For more information: Mina Andreeva – Tel.: +32 229 91382; Alexander Winterstein – Tel.: +32 229 93265)

 

La Commission européenne organise son concours annuel pour les traducteurs en herbe

Pour la 11e année consécutive, le service de traduction de la Commission européenne organise le concours Juvenes Translatores. “EU60 – le 60e anniversaire de la signature du Traité instituant la Communauté européenne” sera le thème des textes qui seront proposés cette année à de jeunes traducteurs de l’Europe entière lors du concours Juvenes Translatores. Les inscriptions à la 11e édition de ce concours pour traducteurs en herbe organisé par le service de traduction de la Commission européenne débuteront le 1er septembre 2017 à midi. M. Günther H.Oettinger, commissaire européen chargé du budget, des ressources humaines et de la traduction, a déclaré à cet égard: «Il s’agit là d’une initiative formidable qui associe deux des valeurs les plus importantes de l’Europe: la diversité linguistique et le talent de la jeunesse. J’invite les écoles de toute l’Europe à participer à ce concours.» Dans un premier temps, les écoles peuvent s’inscrire via le site web http://ec.europa.eu/translatores. Les inscriptions sont ouvertes jusqu’au 20 octobre, à midi, et le formulaire d’inscription est disponible en ligne dans toutes les langues officielles de l’UE. Un communiqué de presse est disponible ici. (Pour plus d’informations: Alexander Winterstein – Tel.: +32 229 93265; Andreana Stankova – Tel.: +32 229 57857) (*Updated on 01/09/2017 at 16:49 to insert a link to relevant additional material.)

Upcoming events of the European Commission (ex-Top News)

Condemning violence in Myanmar’s Rakhine state, UN chief urges restraint

1 September 2017 – United Nations Secretary-General António Guterres today urged restraint and calm in Myanmar’s Rakhine State, cautioning that the situation may otherwise lead to a humanitarian catastrophe.

In a statement from his spokesperson, the Secretary-General expressed deep concern about reported violence since 25 August attacks on police posts.

&#8220The Secretary-General is deeply concerned by the reports of excesses during the security operations conducted by Myanmar’s security forces in Rakhine State,&#8221 according to the statement.

Mr. Guterres stressed the responsibility of Myanmar authorities to provide security and assistance to all those in need and allow the UN and its partners to extend humanitarian support, in country and in Bangladesh, where some people are fleeing. He encouraged authorities to ensure that people seeking aid have access to the UN and other partners.

&#8220The current situation underlines the urgency of seeking holistic approaches to addressing the complex root causes of violence,&#8221 the spokesperson said, reiterating the need to implement the recommendations of the Advisory Commission on Rakhine led by former UN Secretary-General Kofi Annan.

Released earlier this week, the report outlines recommendations for how to overcome political, socio-economic and humanitarian challenges in that area of western Myanmar.

Iraq: ISIL targeting civilians to ‘avenge’ loss of Tal Afar, UN envoy says

1 September 2017 – Iraq: ISIL targeting civilians to ‘avenge’ loss of Tal Afar, UN envoy says

Fighters from the Islamic State (ISIL) are indiscriminately targeting civilians to avenge for their loss of Tal Afar, the top United Nations political representative in Iraqi today said, condemning the latest attack in Baghdad.

&#8220Da’esh terrorists have shown absolute disregard for human life,&#8221 said Ján Kubiš, the Special Representative of the Secretary-General in Iraq, using the Arabic acronym for ISIL.

&#8220However, the patience and resilience of the Iraqi people have defeated the terrorists’ aim in breaking their unity,&#8221 he added.

At least 125 civilians were killed and another 188 injured in terrorist related acts in Iraq during the month of August, according to the UN Assistance Mission in Iraq (UNAMI). The casualty figures show that Baghdad was the worst affected area, and do not include casualty figures from ongoing fighting in Anbar province.

The overall casualty figures are lower than in previous months, where violence spiked above 2,000 in October 2016.

In a separate statement, Mr. Kubiš said that &#8220hopeful days lie ahead for Iraq,&#8221 noting military victories against terrorists, including in the northern Iraqi city of Tal Afar which Iraqi forces yesterday declared liberated from ISIL.

Mr. Kubiš said this Eid al-Adha, thoughts and prayers go to all the martyrs and fighters in the liberating forces, and to those who provide support and are affected &#8211 including the millions of displaced Iraqis.

&#8220On this Eid, the Feast of Sacrifice that Muslims celebrate worldwide, the Iraqi people who have sacrificed dearly deserve to live in peace, dignity and prosperity,&#8221 he said.

The senior UN official added that sustainable peace in the country can only be secured through inclusive solutions, addressing grievances, needs and aspirations of the Iraqi people.

Casualties from cluster munitions double in 2016; Syrians most-affected – UN-backed report

1 September 2017 – Even as countries continue to ratify and implement the international treaty prohibiting the use of cluster munitions, casualties from these notorious weapons doubled in the past year, with civilians accounting for nearly all the victims, according to a United Nations-backed civil society report.

The annual monitoring report released yesterday at the UN Office at Geneva by the Cluster Munition Coalition revealed that the use of cluster munitions in war-torn Syria and Yemen has caused even more civilian casualties. Moreover, in those two countries, conflict and insecurity are hampering clearance of the deadly weapons.

Of nearly 1,000 victims identified in 10 countries, almost all were from Syria, according to the Cluster Munition Monitor 2017.

&#8220The humanitarian devastation caused by cluster munitions is particularly acute in Syria, where use has continued unabated since mid-2012,&#8221 the report’s main editor and coordinator of the Landmine and Cluster Munition Monitor initiative Jeff Abramson told journalists in Geneva, warning that the real figure is therefore much higher.

Fellow report editor Loren Persi explained: &#8220The vast majority of those casualties occurred in Syria and mostly during attacks, there was really unrelenting use of cluster munitions in Syria and Syria has been the reason for the majority of cluster munition casualties since 2013, definitely. Actually in 2016, almost 90 per cent of the casualties occurred in Syria.&#8221

Mr. Abramson stressed that the only sure way to end this insidious menace &#8220is to have all States embrace and adhere to the international ban on these weapons.&#8221

The threat from cluster munitions is rarely short-lived, according to the report, which records casualties in places where the weapons have not been used for decades.

More than 100 people were known to have been killed or injured by previously unexploded cluster munition submunitions, the deadly landmine-like remnants left over from earlier attacks, including in South-East Asian countries such as Lao People’s Democratic Republic. There, all of the 51 new casualties in 2016 were the result of remnants from cluster munitions used in the 1960s and 1970s.

Number of casualties in 2016 more than double the previously recorded high

Overall, the report identified at least 971 new cluster munition casualties globally in 2016, with 860 of these in Syria. This global number is certainly less than the actual total. Disturbingly, the number of casualties in 2016 is more than double the number recorded in 2015 (417), making it the second-highest annual figure since Cluster Munition Monitor reporting began in 2009 (the highest was in 2013).

Since August 2016, two countries have ratified the Convention on Cluster Munitions (Benin and Madagascar), bringing the total number of States Parties to 102. Another 17 States have signed but not yet ratified the convention. Last December, 141 states, including 32 non-signatories to the convention, adopted a key UN General Assembly resolution supporting the Convention on Cluster Munitions.

&#8220Efforts to grow the Convention’s membership continue to be central to stigmatize the use of these weapons and to bring an end to the threat they pose. Convention members have a better understanding of the location and scale of contamination, and will more readily share information about it, compared with states outside the convention,&#8221 said Amelie Chayer, acting Director of the Cluster Munition Coalition.