MEPs want financial police force – EUbusiness Week newsletter 845 – EUbusiness.com

EUbusiness Week 845 top stories: Facebook ‘not keeping to commitments on disinformation’; EU-Arab League commit to stronger ties; States agree easier access to capital for Europe’s SMEs; New EU low-carbon benchmarks for sustainable investment; State aid ceiling for EU farmers raised to EUR 25K; EU platform to boost diagnosis of rare diseases

Publisher’s Note

A special Euro-Parliament tax committee, set up in the wake of the Luxleaks, Panama Papers and Paradise papers scandals, this week recommended the creation of a European financial police force as part of a roadmap to more effective taxation and to clamping down on financial crimes. There is little effective cross-border supervision and 28 differing national anti-money laundering and anti-tax fraud provisions, said co-rapporteur Jeppe Kofod MEP. With a string of loopholes for criminals to abuse and launder vast amounts of money, tougher EU-level regulation, sanctions on banks facilitating financial crimes and a new European financial police within Europol are called for.
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Regards,

Nick Prag
Publisher, EUbusiness

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1. Facebook ‘not keeping to commitments on disinformation’

Social media platform Facebook is not keeping to commitments it made on disinformation with regard to scrutiny of ad placements, the Commission said Thursday as it published progress reports from Facebook, Google and Twitter.
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2. EU-Arab League commit to closer ties

Leaders of the EU and the League of Arab States meeting for the first ever summit between the two regions have agreed to strengthen cooperation particularly on border control and the fight against irregular migration.
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3. States agree easier access to capital for Europe’s SMEs

EU ambassadors have agreed a negotiating mandate on proposed rules to help Europe’s smaller businesses trying to list and issue securities on financial markets to tap market-based funding more easily and cheaply.
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4. New EU low-carbon benchmarks for sustainable investment

Council and Parliament reached a preliminary agreement Monday on a proposal for new financial benchmarks aimed at giving greater information on an investment portfolio’s carbon footprint.
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5. State aid ceiling for EU farmers raised to EUR 25K

The maximum aid Member States can give to their farmers without need for prior EU approval will rise from EUR 15,000 to EUR 25,000, the Commission has announced, to allow greater flexibility, especially in times of crisis.
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6. EU platform to boost diagnosis of rare diseases

On Rare Disease Day the Commission launched a new online knowledge-sharing platform to support better diagnosis and treatment for more than 30 million Europeans living with a rare disease.
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EUROPEAN LAW

Amazon phone: Amazon and other e-commerce platforms are not obliged to make a telephone number available for consumers on their web pages, the EU top Court’s Advocate General stated in an Opinion on Thursday.
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Latest news from the European Court of Justice
EU law firms
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Inside the EU Institutions

Council Watch

Access to financial markets for SMEs – framework for covered bonds – Investment firms: new regulatory and supervision framework – Basic road connectivity, social security entitlements, ensuring safe flying in event of no-deal Brexit – low carbon benchmarks – Sharm El-Sheikh summit – Belarus sanctions – technical measures in fisheries – road infrastructure management – InvestEU
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Council …

Commission Watch

State aid: probe into public financing of Oresund fixed rail-road link, approval of RWE acquisition of E.ON electricity generation assets – Rare Disease Day – Education for Children with Disabilities – European Semester Winter Package progress – New ACP-EU Partnership talks – EUR 10bn for innovative clean technologies – wind farms in France
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Parliament Watch

Laura Codruta Kovesi Civil Liberties MEPs’ top choice for EU Chief Prosecutor – Protecting citizens’ access to social security in case of no-deal Brexit – Copyright: MEPs back provisional agreement
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EU diary

4 Mar: European Parliament Committee Meetings
4 Mar: Transport, Telecoms & Energy Council (Energy)
5 Mar: Environment Council
6-7 Mar: 2019 Circular economy stakeholder conference
6-7 Mar: Investors to finance Deep Tech innovation
6 Mar: Future of government 2030+: final event
6 Mar: Independent living for people with disabilities
7 Mar: Ground handling conference 2019
7-8 Mar: Justice and Home Affairs Council
7 Mar: Transport, Telecoms & Energy Council (Transport)
7-8 Mar: European Parliament Committee Meetings
The Week Ahead
Long-term diary