Latest news from EU institutions and bodies

The EU successfully concluded the EU Integrated Resolve 2024, a joint exercise co-led by the Council of the EU, the European Commission, as well as the European External Action Service.

Overview of the main subjects to be discussed at meetings of the Council of the EU over the next two weeks and upcoming media events.

European Council President Michel, along with the Prime Minister of Hungary, Viktor Orbán, invited heads of state and government across Europe to the fifth meeting of the European Political Community, which will take place in Budapest on 7 November 2024.

This note provides information on the confirmation hearings of the Commissioners-designate, scheduled from 4 - 12 November. Source : © European Union, 2024 - EP

Spanish and Portuguese authorities have rolled up of a sophisticated drug trafficking network operating in both countries. The criminal group manufactured illegal boats that were used to transport large quantities of drugs into Spain. The group was also involved in drug trafficking. An international investigation coordinated by Eurojust resulted in the arrest of 28 suspects and the seizure of 23 kilos of heroin.

ESMA publishes a report on first application of IFRS 17 Insurance Contracts 25 October 2024 Financial reporting The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has released today the Report ‘​From black box to open book?’. This report includes recommendations to assist issuers when preparing their annual financial statements. This Report provides: An overview of ESMA’s and National Competent Authorities’ (NCAs) observations regarding the first-time application of the International Financial Reporting Standard (IFRS) 17 Insurance Contracts in the 2023 financial statements of a sample of European insurance companies. Examples of disclosures which may enable issuers to visualise the application of certain IFRS 17 requirements. Recommendations to issuers on how the IFRS 17 disclosures can be improved.  Next steps ESMA considers that this document, together with the recently published European Common Enforcement Priorities (ECEP) Statement, will assist issuers, auditors, and supervisory bodies in the process of improving 2024 annual financial reports and help investors to better understand these reports.   Further information: Cristina Bonillo Senior Communications [email protected] 25/10/2024 ESMA32-1188985980-1046 From “black box” to “open book”? Evidence from the first application of IFRS 17 Insurance Contracts

European Commission Press release Brussels, 25 Oct 2024 The EU has concluded successfully the EU Integrated Resolve 2024, a joint exercise co-led by the Council of the EU, the European Commission, as well as the European External Action Service.