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Viale delle Terme di Caracalla, 00153 Roma, Italy

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The Ministerial Order of 19 January 2010 introduces a new approach to risk management within banks and investment firms : a transversal approach to risk, that is expressed through the creation of ‘risk departments’ (filière risques) within banks.

Translated Summaries

In The Journal of Regulation the summaries’ translation are done by the Editors and not by the authors

ENGLISH

On December 20, 2011, the European Commission adopted a decision based on the Almark ruling that expounds upon the four conditions necessary so that compensation paid by a State to any state-owned or private company entrusted with the operation of a public service not require prior notification of the European Commission, despite the general prohibition on State Aids. Each state has a wide margin of discretion in the definition of services that could be classified as being services of general economic interest. A communication and de minimis regulation will complete this decision.

 

FRENCH

Par une décision du 20 décembre 2011, la Commission Européenne, s’appuyant sur l’arrêt Almark , développe les 4 conditions pour que les compensations versées par un Etat à une entreprise, qu’elle soit publique ou privée, pour qu’elle assure un service public, ne donne pourtant pas lieu à notification à la Commission européenne, malgré la prohibition des aides d’Etat. Les Etats sont légitimes à définir les activités qui relèvent de l’intérêt économique général. Une communication et un règlement de minimis  complèteront cette décision.

SPANISH

El 20 de diciembre del 2010, la Comisión Europea adoptó una decisión basada en la decisión Almark que trata de las cuatro condiciones necesarias para que una compensación pagada por el Estado a cualquier empresa pública o privada no requiera de una notificación previa a la Comisión Europea, a pesar de la prohibición general sobre Asistencias Estatales. Cada estado tiene un gran margen de discreción en la definición de servicios que podrían ser clasificados como servicios de interés económico general. Una comunicación y regulación de minimis completará la decisión.

ITALIAN

Il 20 dicembre 2011, la Commissione europea, sulla base della decisione Almark, ha identificato le quattro condizioni in presenza delle quali gli aiuti dati dallo Stato ad un’azienda, pubblica o privata, per far assicurare un servizio pubblico, non sarà necessario fare una notifica alla Commissione, nonostante il divieto di procedere con degli aiuti di Stato. Ogni Stato avrà un ampio margine di manovra nella definizione dei servizi che possono essere qualificati come servizi di interesse generale. Una comunicazione ed un regolamento de minimis completeranno questa decisione.

ARABIC

في قرار مؤرّخ يوم 20 ديسمبر2011’ اللّجنة الأوروبية* تعتمد على قرار الحكم ألمارك* لوضع أربع شروط للتّعويضات التّي تدفعها الدّولة للشركة سواء كانت عامة أو خاصة’ لأنّه يوفّر خدمة عمومية’ ومع ذلك’ لا يؤدّي في الإخطار إلى اللّجنة الأوروبية على الرّغم من حظر المعاونة الدّولية. الدّول غير المشروعة يحدّدون الأنشطة الّتي تندرج في إطار الاقتصادية العامة. اتصال و تنظيم سوف يستكملني الحد الأدنى للقرار.  
  
*La Commission Européenne
*arrêt Almark

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Other translations forthcoming.

 

The postal Regulation Authority (PostReg) is an independent body attached to the Federal Department of the environment, transport, energy and communication (DETEC). It has the mission to assess the liberalisation of the sector and its proper functioning. In its report presented on May 14, 2012, it notices first of all the satisfactory quality of the service provided by the Post, since not only the mails but the packages arrived on time. But concerning the openness to competition, the monopoly held by the Post on the mail lets him maintaining a dominant position on the market of the package. The regulator said that the law already adopted will establish a new authority, the Commission of Post (PostCom) which will further promote new entrants.

Mara Cameran holds a diploma from Bocconi University (Milan) and a doctorate in business management. She is an associate professor of financial accounting at Bocconi University (Milan) and teaches lectures on accounting and auditing within the accounting department. (...)

ENGLISH

Main information

Two Ministerial Orders of 5 March 2010 and a Ministerial Order of 8 March 2010 nominate the members of the Autorité de Contrôle Prudentiel (Prudential Control Authority), created by the Ordinance of 21 January 2010. Besides the Presidency, which will be exercised by Christian Noyer, governor of the Banque de France, the composition reveals the prevalence of banking regulators, which is a pragmatic consequence of the fact that insurers propose products equivalent in risk to those proposed by banks.

A Chinese economic newspaper revealed, by an anonymous source, that the Chinese banking regulator, ordered end of 2011, five first Chinese financial institutions to proceed in the determination and the quality of loans granted, so they rank their bad debt. The control by the regulator through the self-assessment will be made from end of May 2012.

The European Commission has published its institutional architecture of the Union Bank, which is being built in Europe. The primary role is entrusted to the European Central Bank. The ECB shall have power to issue licenses to the 6000 banks acting in the euro area. This institution will supervise to ensure compliance and liquidity. It will restore compliance if necessary. It will have power to impose sanctions, ranging from fines to withdrawal of approval. Thus, institutional reform leads to an extreme centralization of power, national authorities no longer as relays