Brussels Regulatory Brief: February 2021 Friday, March 12, 2021
The European Commission Accepts Commitments from a Pharma Company to Stop Its Excessive Prices
On 15 May 2017, the European Commission (Commission) announced that it had opened formal proceedings to investigate whether a pharma company abused its dominant position by charging excessive prices for certain off-patent cancer medicines, in breach of EU antitrust rules.
The Commission found that the pharma company has consistently earned very high profits from its sale of these cancer medicines in Europe, both in absolute terms and when compared with the profit levels of similar companies in the industry. In fact, the company’s prices exceeded its relevant costs by almost 300 percent on average without the Commission’s investigation revealing any justifications for the company’s high-profit levels.
authorisation as
a credit institution, and cover the authorisation requirements set out in the Capital Requirements Directive (CRD). The draft Guidelines complement the
and contribute to the convergence of supervisory practices around market access for credit institutions across the single market. The consultation runs until 10 June 2021.
The draft Guidelines advocate for a risk-based approach and insist on the importance of consistency with the supervisory approaches applied in going concern situations. In addition, they consider the proportionality principle for all relevant assessment criteria and apply to both traditional and innovative business models and/or delivery mechanisms, as they are technology neutral.
To embed, copy and paste the code into your website or blog:
The European Supervisory Authorities (ESAs) have published a Supervisory Statement to clarify the application of the Sustainable Finance Disclosure Regulation (SFDR)
1 in anticipation of the requirements applying in the European Economic Area (EEA) from 10 March 2021. The Supervisory Statement does not impose new requirements on financial market participants and advisers, but confirms the industry approach to using the draft Regulatory Technical Standards (RTS) as a reference point in their compliance efforts for the 10 March 2021 deadline.
The RTS implement the more detailed requirements of the SFDR through secondary rules, which, due to the disruption caused by COVID-19, will not be finalised by 10 March 2021, as originally intended.
Image nattanan23 on Pixabay
(BRUSSELS) - New rules on sustainable finance disclosure, aimed at strengthening and improving how sustainability related information is disclosed in the financial sector, came into force in the EU on Wednesday.
The Sustainable Finance Disclosure Regulation (SFDR), seen as a cornerstone of the EÚ Commission s Action Plan on Sustainable Finance, aims to trigger changes in behavioural patterns in the financial sector, discouraging greenwashing, and promoting responsible and sustainable investments.
The SFDR will set common EU rules on: i) how financial product manufacturers and financial advisers should inform end-investors about sustainability risks, ii) how the impact of investments on the environment and society should be disclosed, and iii) how financial products that are marketed as sustainability-related actually meet that ambition.
PRIIPs & SFDR Live Webinar - Prepare your PRIIPs & SFDR in time (10 March 2021) bobsguide.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bobsguide.com Daily Mail and Mail on Sunday newspapers.