Short selling: Commission adopts delegated act detailing rules on the ban on uncovered sovereign credit default swaps and short sales of shares and sovereign debt European Commission Press release Brussels, 5 July 2012 Short selling: Commission adopts delegated act detailing rules on the ban on uncovered sovereign credit default swaps and short sales of shares and sovereign debt The European Commission has today adopted a Delegated Act which sets out important technical rules needed to ensure the uniform application and enforcement of the Short Selling Regulation. Commissioner Barnier said: "We cannot tolerate speculation on uncovered sovereign credit default swaps. Background The delegated act also details technical rules on a number of other key issues, including: The Implementing Regulation will enter into force on the day following its publication in the Official Journal of the European Union, and shall apply from 1 November 2012, except for the provisions on the principal trading venue which shall apply from the date of entry into force. More information See also MEMO/12/523 Short Selling Regulation and text of the delegated act
Europe 2020 Project Bond Initiative: Frequently asked questions European Commission Brussels, 5 July 2012 Europe 2020 Project Bond Initiative: Frequently asked questions On 5 July 2012, the European Parliament adopted the proposal for a pilot phase of the Project Bond Initiative. Last October, the European Commission proposed the creation of project bonds for infrastructure investment, as a new tool to unlock private funding. This initiative marks another building block in the European Commission's actions to revive growth through investment in the European Union. Q1: What are the main objectives of the Initiative? The Project Bond Initiative aims to revive project bond markets and to help the promoters of individual infrastructure projects to attract long-term private sector debt financing by reducing the risks of the projects (see IP/11/236 and MEMO/11/707 ). The Commission will launch a pilot phase in 2012 until the end of the current Multiannual Financial Framework in 2013. Q2: Why target infrastructure? Q3: What is the purpose of the pilot phase?