It is the first country to align with the European measures proposed this time last year and, according to the French Government’s projections, it will raise 500 million euros to help fund public services.
EBA publishes revised Guidelines on outsourcing arrangements
The European Banking Authority (EBA) published today its revised Guidelines on outsourcing arrangements setting out specific provisions for the governance frameworks of all financial institutions within the scope of the EBA's mandate with regard to their outsourcing arrangements and related supervisory expectations and processes.
The Council has reached an agreement regarding its conclusions on the Coordinated Plan on the development and use of Artificial Intelligence “Made in Europe”, which underline the importance of fostering the development and use of this technology in Europe.
The European Parliament releases its position on the proposal for modernizing EU consumer protection rules (part of the New Deal for Consumers package)
Among other points, the European Parliament’s Internal Markets and Consumer Protection Committee proposed that marketplaces and comparison services must disclose the main parameters determining how search query results are ranked, that the “blacklist” of unfair commercial practices be bulked up, and that more dissuasive penalties be established. The new EU presidency, currently held by Romania, considers this proposal to be one of its priorities. Accordingly, we expect that the general conclusions will be released in the coming weeks.
The Spanish State Budget Bill includes a new tax on digital services
The tax places a 3% levy on online advertising and intermediation services, as well as on sales of data. It would apply to companies with revenues of at least €750 million worldwide and €3 million in Spain.