Mediaboss Marketing

EU institutions and bodies in brief

In the EU's unique institutional set-up:

The European Council sets the EU's overall political direction but has no powers to pass laws. Led by its President - currently Charles Michel - and comprising national heads of state or government and the President of the Commission, it meets for a few days at a time at least twice every 6 months.

There are 3 main institutions involved in EU legislation:

Together, these three institutions produce through the "Ordinary Legislative Procedure" (ex "co-decision") the policies and laws that apply throughout the EU. In principle, the Commission proposes new laws, and the Parliament and Council adopt them. The Commission and the member countries then implement them, and the Commission ensures that the laws are properly applied and implemented.

Decision-making in the EU - more on EU law-making procedures

List of presidencies of the Council of the EU

Two other institutions play vital roles:

The powers and responsibilities of all of these institutions are laid down in the Treaties, which are the foundation of everything the EU does. They also lay down the rules and procedures that the EU institutions must follow. The Treaties are agreed by the presidents and/or prime ministers of all the EU countries, and ratified by their parliaments.

The EU has a number of other institutions and interinstitutional bodies that play specialised roles:

Originally posted here:
Institutions and bodies | European Union

This may take a very long time to happen.

Some countries are now working to become part of the European Union.These countries are:

To become part of the European Union,these countries must workto make all laws and values of the European Unionhappen in them.

The European Union made the Schengen Area.

The Schengen Area is an area without borders.In this area, people can travel from country to country freely and easily.They do not have to go through checks and controlswhen they pass from one country to another.

Thanks to the Schengen Area, it is now easier for peopleto travel for work or tourism.

The Schengen Area was made in 1985.Today 22 out of the 27 countries of the European Unionare part of the Schengen Area.

These countries are:

Also, 4 countries outside the European Unionare part of the Schengen Area:

That means that people can travel freely and easilyfrom one of these countries to another.This way it is easier for people to visit any of these countriesfor tourism or for work.

In every country of the European Unionpeople speak their own language.The European Union protects the right of peopleto communicate in their own language.

That is why the European Unionmakes all important information and documentsin all the languages that people speak in its countries:

This way all people in the European Unioncan get important information in their own languageand understand it.

Read the original here:
Easy to read - The European Union | European Union

European Community (EC), previously (from 1957 until Nov. 1, 1993) European Economic Community (EEC), byname Common Market, former association designed to integrate the economies of Europe. The term also refers to the European Communities, which originally comprised the European Economic Community (EEC), the European Coal and Steel Community (ECSC; dissolved in 2002), and the European Atomic Energy Community (Euratom). In 1993 the three communities were subsumed under the European Union (EU). The EC, or Common Market, then became the principal component of the EU. It remained as such until 2009, when the EU legally replaced the EC as its institutional successor.

The EEC was created in 1957 by the Treaty of Rome, which was signed by Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany. The United Kingdom, Denmark, and Ireland joined in 1973, followed by Greece in 1981 and Portugal and Spain in 1986. The former East Germany was admitted as part of reunified Germany in 1990.

Read More on This Topic

international trade: The European Economic Community

The European Coal and Steel Community represented only an initial step in the movement for European integration. On March 25, 1957, its...

The EEC was designed to create a common market among its members through the elimination of most trade barriers and the establishment of a common external trade policy. The treaty also provided for a common agricultural policy, which was established in 1962 to protect EEC farmers from agricultural imports. The first reduction in EEC internal tariffs was implemented in January 1959, and by July 1968 all internal tariffs had been removed. Between 1958 and 1968 trade among the EECs members quadrupled in value.

Politically, the EEC aimed to reduce tensions in the aftermath of World War II. In particular, it was hoped that integration would promote a lasting reconciliation of France and Germany, thereby reducing the potential for war. EEC governance required political cooperation among its members through formal supranational institutions. These institutions included the Commission, which formulated and administered EEC policies; the Council of Ministers, which enacted legislation; the European Parliament, originally a strictly consultative body whose members were delegates from national parliaments (later they would be directly elected); and the European Court of Justice, which interpreted community law and arbitrated legal disputes.

Members revamped the organization several times in order to expand its policy-making powers and to revise its political structure. On July 1, 1967, the governing bodies of the EEC, ECSC, and Euratom were merged. Through the Single European Act, which entered into force in 1987, EEC members committed themselves to remove all remaining barriers to a common market by 1992. The act also gave the EEC formal control of community policies on the environment, research and technology, education, health, consumer protection, and other areas.

By the Maastricht Treaty (formally known as the Treaty on European Union; 1991), which went into force on November 1, 1993, the European Economic Community was renamed the European Community and was embedded into the EU as the first of its three pillars (the second being a common foreign and security policy and the third being police and judicial cooperation in criminal matters). The treaty also provided the foundation for an economic and monetary union, which included the creation of a single currency, the euro. The Lisbon Treaty, ratified in November 2009, extensively amended the governing documents of the EU. With the treatys entry into force on Dec. 1, 2009, the name European Community as well as the pillars concept were eliminated.

See the rest here:
European Community | European economic association ...

A total of 37,800 people sought international protection in the European Union countries in May 2021, according to the recent report of the European Asylum Support Office (EASO).

The agency revealed that the main origin countries in May 2021 were Syria, Afghanistan, Pakistan, Iraq, stressing that Afghans logged more applications for the third consecutive month, SchengenVisaInfo.com reports.

According to the report, citizens from West African countries accounted for a significant number of applications filed for international protection in the European Union countries in May 2021.

The agency revealed that Moroccans, Tunisians, and Algerians lodged surprisingly few applications over the past 12 months, even though many nationals of these countries attempted to reach European countries in an unlawful way.

Nationals of Morocco, Tunisia, and Algeria have been the most prominent after Syrians in terms of illegal border-crossings detected at the external EU border over the past 12 months. Anyway, they lodged fewer asylum applications during the same period than the number of detected illegal border-crossings, the statement clarifies.

On the other hand, asylum applications were higher than illegal border-crossings for all other main origin countries, indicating that many citizens of Morocco, Tunisia, and Algeria who unlawfully entered the European Union countries didnt apply for international protection possibly due to low recognition rates for these nationalities.

The report reveals that West Africans accounted for a large number of applications lodged for international protection in the EU countries (5,500 applications) in May. Nigerians filed a total of 1,300 applications in May, remaining the most significant group among West Africans.

The relatively high number of asylum applications by West Africans partly reflects increased irregular migration on the Western African road towards the Canary Islands, the report reads.

In May, self-claimed unaccompanied minors filed 1,500 applications for international protection in EU countries, representing 4 per cent of applications filed in May. More than two-fifths of applications were from Afghans, followed by Syrians and Bangladeshis.

In May, asylum authorities in European Union countries issued 41,500 first instance decisions.

This was lower than in April (- 17 per cent) as far fewer decisions were issued on repeated applications, which had been numerous in recent months, the statement reads.

However, despite the decline, the number of first instance decisions issued exceeded the number of applications.

The recognition rate in the EU countries in May 2021 was 32 per cent. The recognition rates were especially high for Eritreans (80 per cent), Syrians (75 per cent), and Somalis (59 per cent).

Previously, the EASO report revealed that in 2020, a total of 48,578 Afghans applied for asylum in the European Union countries, remaining the second-largest group of applicants in the EU.

Follow this link:
EASO: 37,800 People Applied for International Protection in EU Countries in May - SchengenVisaInfo.com - SchengenVisaInfo.com

23 July 2021

Ganado Advocates

To print this article, all you need is to be registered or login on Mondaq.com.

The distribution of funds on a cross-border basis within theEuropean Union (the "EU") is the next important topic ofthe year for EU fund managers. The relatively new 'CBDFframework', which will come into force on 2 August 2021, willimpact alternative investment fund managers ("AIFMs") andUCITS management companies ("UCITS ManCos") as they willhave to ensure that marketing communications produced for fundsunder their management are compliant with this new framework. Thisarticle is aimed at: (i) providing a brief overview of the CBDFframework; and (ii) discussing the main challenges which AIFMsand/or UCITS ManCos may face once the framework is brought intoeffect.

Overview of the CBDF Framework

The 'CBDF Framework' is an EU legislative frameworkintended to facilitate the cross-border distribution of funds inthe EU by removing barriers to create a more competitive EUinvestment landscape. It is made up of two main legislativeinstruments - Directive (EU) 2019/1160 (the "Directive")and Regulation (EU) 2019/1156 (the "Regulation")supplemented by a Commission Delegated Regulation 2021/955 andguidelines issued by the European Securities and Markets Authority("ESMA") published on 27 May 2021. Most of thesubstantial provisions will apply as of 2 August 2021.

As a framework, it forms part of the capital markets union, aflagship initiative of the European Commission intended tostrengthen the European capital markets, which seeks to harmonisenational processes for the verification of marketing material bycompetent authorities and enables ESMA to monitor investment fundsmore closely. It allows managers to test the market and assess theappetite of potential investors for new investment strategies.Consistency regarding the way regulatory fees are determined willalso be introduced.

The main provisions of the CBDF Framework can be grouped underthe following five headings:

Main Challenges

The CBDF Framework is helpful to managers in certain respects,yet particular provisions require further clarification. The newrules will compel managers to decide whether to actively promote anew fund to potential investors or to rely on the reversesolicitation rule, but not to depend on both. The new frameworkindirectly imposes an 18-month ban on reverse solicitation if fundmanagers decide to pre-market a fund or sub-fund as a subscriptionwithin an 18-month period after the pre-marketing start date willautomatically be deemed to be marketing, triggering notificationrequirements. This is quite an unfavourable provision for fundmanagers. It is also unclear whether this automatic rule appliesonly within the member state where pre-marketing takes place orwhether it bans reverse solicitation anywhere within the EU.

Another provision that may be an issue for certain fund managersis the 36-month ban on pre-marketing of a de-notified fund withinthe member state. Managers are interested in launchingsuccessor/continuation funds, which increased in popularity in theprivate equity space over the pandemic, maybe hit by this avoidableharsh rule.

All the above could cause confusion and potentially damage EUinvestment. The industry hopes that national legislators andregulators tasked with the job of transposing the Directive intotheir respective national laws, by 2 August 2021, clarify thechallenges highlighted above by adopting narrow interpretations onthe bans. This may however result in differing views being adoptedby different member states which goes against the spirit of theCBDF Framework. Eventually, EU policymakers may need to revisit therules to resolve the issues altogether, as otherwise, barrierswithin the EU will continue to be present, compelling the EU toregress in its progress towards expanding the EU single market andcreating a capital markets union.

This article was first published in The Times ofMalta.

The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.

POPULAR ARTICLES ON: Finance and Banking from European Union

Read more:
Cross-Border Distribution Of Funds In The European Union - Finance and Banking - European Union - Mondaq News Alerts