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.
The EU reviews the Privacy Shield agreement with the US
In mid-December 2018 , the European Commission completed its second review of the EU-US agreement, finding that the Privacy Shield ensures an adequate level of protection for personal data transferred from the EU, given that the steps taken by US authorities to implement the Commission’s recommendations have improved the functioning of the framework. However, the Commission does expect the US authorities to nominate a permanent Ombudsperson to replace the one that is currently acting.
The new European telecommunications regulatory framework now approved
Directive (EU) 2018/1972 of the European Parliament and of the Council of 11 December 2018 establishing the European Electronic Communications Code (EECC) recasts four previous directives to regulate electronic communications networks, electronic communications services, associated facilities and services and certain aspects of terminal equipment.