The EU Blocking Regulation adopted in 1996 prohibits EU persons to comply with extraterritorial laws that are explicitly listed. Following the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in May 2018, the Commission put forward proposals to include certain US sanctions on Iran in the list attached to the Regulation. Whilst the Commission’s objective is to protect Iran-related business interests of EU companies and individuals, this initiative poses a lot of concerns for European banks. The EBF recommends the Commission to provide a number of clarifications in its forthcoming Implementation Guidance. In the EBF’s view, the guidance must state very clearly that the Regulation does not intend to prevent EU persons from adopting a risk-based approach towards their business dealings with Iran.
.@JunckerEU #EUCO “We agreed that #BankingUnion needs to be completed. Also briefly examined budgetary questions including #Italy #budget which we will not prejudge negatively but which we will examine with the same rigour as other countries’ budgets.”
Breaking news! Register for the #FinTechBE Summit and enroll on a @Febelfin Academy training FOR FREE on an "Update on the European Agenda and the Impact on the Financial Sector." Number of seats is limited so don't wait! https://t.co/zwGKRpbEiO
“Modern Governance in Banking” is a new modular programme of three three-day modules at the INSEAD business school in Fontainebleau, France. The content is driven by the needs for bank directors and senior executives working in banks to review and update their corporate governance practices due to the many pressures they face, and will focus on the effectiveness of directors and boards. Successful completion by participants offers certification by INSEAD. Read more
European Banking Federation
The EBF is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
56 Avenue des Arts
D-60311 Frankfurt am Main
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.