It does this only on issues that cannot be dealt with effectively at national, regional or local level (subsidiarity principle).The Commission drafts and implements EU legislation. Main document types. Legislative proposal Legislative proposal The Commission has the 'right of initiative' – it can propose new laws to protect the interests of the EU and its citizens. The European Commission has adopted a legislative proposal for a Regulation containing amendments to the Capital Requirements Regulation (575/2013) (CRR) and the CRR II Regulation ((EU) 2019/876) as regards adjustments in response to the COVID-19 pandemic (COM(2020) 310). (Oct. 6, 2020) On September 24, 2020, the European Commission published a legislative proposal on markets in crypto-assets (MICA), which would regulate crypto-assets that fall outside the scope of current European Union (EU) financial market regulation. The parliamentary committee … For regular updates on the PRI’s policy work, email firstname.lastname@example.org. The Commission has a virtual monopoly on the introduction of legislation into the legislative process, a power which gives the Commission considerable influence as an agenda setter for the EU as a whole. The European Commission (EC) on Thursday 17 December issued long-anticipated proposals for new digital technology regulation in the European Union (EU): the Digital Services Act (DSA) and the Digital Markets Act (DMA). For more details on the European Commission’s action plan, see here. On 26 June, the PRI will be hosting an event in Brussels on these legislative proposals. Commissioner for Justice Didier Reynders announced yesterday that the Commission will introduce a legislative initiative next year on mandatory due diligence for companies. In September 2020 the European Commission (the Commission) adopted a legislative proposal for Regulations for markets in cryptoassets and on a pilot regime for market infrastructures based on distributed ledger technology (the Regulations). On 29 April 2020, the European Commissioner for Justice, Didier Reynders, announced that the Commission commits to introducing rules for mandatory corporate environmental and human rights due diligence, as part of a Sustainable Corporate Governance initiative. Once formally adopted as EU Regulations, these proposals will set a new benchmark for regulating internet platform services. The proposed Regulations are part of a broader digital finance package introduced by the Commission to enable and support the potential of digital … For more information, click here. The proposed MAR is designed to fit with the Commission's proposals to revise the Markets in Financial Instruments Directive (2004/39/EC) (MiFID) proposals, which were also published by the Commission on 20 October 2011 (see Legal update, European Commission publishes MiFID II legislative proposals). Commission is currently preparing a public consultation on sustainable corporate governance and due diligence, which will inform the Commission’s legislative proposal. Documents used to prepare EU legislation, produced during the various stages of the legislative and budgetary process. A Member of the European Parliament, working in one of the parliamentary committees, draws up a report on a proposal for a ‘legislative text’ presented by the European Commission, the only institution empowered to initiate legislation.
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