According to a Council press release dated 26 June, new simplified rules for access to EU funds have been agreed by the co-legislators. "As an example of simplification, beneficiaries of EU funds will no longer be obliged to open a separate bank account to receive an upfront payment at the start of a project and to return to the Commission any interest yielded by this money while it stays on this account. The regime of grants will be shifted from a real-cost based management (inputs) towards a performance-based scheme (outputs). This move is expected to simplify significantly the procedural and documentary requirements for the benefit of beneficiaries. The main objectives of the revision of the financial regulation are to cut red tape, increase the leverage effect of limited EU funds and assure more accountability for the EU taxpayer."
Also noteworthy, the Commission published today a legislative package to improve consumer protection in financial services, raising standards and removing loopholes. The preparatory work for this package benefited from input of behavioural economics data.
Also noteworthy, the Commission published today a legislative package to improve consumer protection in financial services, raising standards and removing loopholes. The preparatory work for this package benefited from input of behavioural economics data.
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