Tag Archives: Payment

Cross-border payments in euros

Outline of the Community (European Union) legislation about Cross-border payments in euros

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These categories group together and put in context the legislative and non-legislative initiatives which deal with the same topic.

Internal market > Single market for capital

Cross-border payments in euros

Document or Iniciative

Regulation (EC) No 924/2009 of the European Parliament and of the Council of 16 September 2009 on cross-border payments in the Community and repealing Regulation (EC) No 2560/2001 (Text with EEA relevance).

Summary

This Regulation guarantees that national and cross-border payments made in the Community are subject to the same rules with regard to bank charges.

Scope

The payments concerned must not exceed EUR 50,000. They are to be made in euros or in the national currency of Member States wishing to apply the Regulation. Thus, following a request from Sweden, the principle of equality of charges also applies to payments made in Swedish kronor.

The Regulation shall not apply to payments made by payment service providers * for their own account or on behalf of other payment service providers. Furthermore, the Regulation shall not apply to currency conversion charges.

Equality of charges applicable to payments

Service providers shall levy identical charges for:

cross-border payments and electronically processed payment transactions where the payer’s payment service provider and the payee’s payment service provider are located in different States;
national payments and electronically processed payment transactions where the two service providers are located in the same State.

Facilitating the automation of payments

Payment service providers shall give each client an International Bank Account Number (IBAN). They shall also communicate their Bank Identifier Code (BIC). These codes shall be indicated by clients when making cross-border transactions. Failing this, the client may be subject to additional charges. Service providers must inform their clients of the amount of additional charges before a transaction takes place.

Compliance with regulatory obligations

Member States shall designate the competent authorities responsible for ensuring compliance with this Regulation.

If there is an infringement of the provisions by service providers, service users or any interested party may submit claims to national authorities. Member States shall establish out-of-court complaint and redress procedures. They shall designate or create competent bodies.

Member States shall lay down penalties to be applied in the event of infringement.

Cross-border cooperation

The competent authorities and the bodies responsible for out-of-court complaint and redress procedures shall expeditiously cooperate in solving cross-border disputes.

Context

Regulation (EC) No 2560/2001 is repealed, as from 1 November 2009.

Key terms
Payment service providers: means in particular credit institutions, electronic money institutions, payment institutions, post office giro institutions, the European Central bank and national central banks, Member States or their regional and local authorities (when not acting in their capacity as public authorities).

References

Act	Entry into force	Deadline for transposition in the Member States	Official Journal
Regulation (EC) No 924/2009	1.11.2009	–	OJ L 266 of 9.10.2009

Related Acts

Communication from the Commission of 10 September 2009 – Completing SEPA: A Roadmap for 2009-2012 [COM(2009) 471 final – Not published in the Official Journal].

The Roadmap presented by the Commission lays down the priorities for the Single Euro Payments Area (SEPA) for the period 2009-2010. These priorities concern Member States which have adopted the euro or are preparing to do so, as well as Sweden. These priorities should:

accelerate the migration of financial products and payment standards towards SEPA products;
increase the visibility of SEPA and its products;
complete the legal environment for SEPA and strengthen compliance of its standards with those of the European Payments Council;
ensure standardisation, interoperability and security of the processing of payments;
improve governance of SEPA, through the establishment of a new competent body at European level.

Communication 2002/C 165/08 from the Commission of 11 July 2002 pursuant to Article 9 of Regulation (EC) No 2560/2001 of the European Parliament and of the Council [Official Journal C 165 of 11.7.2002].
The Commission received notification on 28 June 2002 of the decision of the Swedish authorities to extend the application of the Regulation to the Swedish kronor.

Another Normative about Cross-border payments in euros

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Other

Cross-border payments in euros

This Regulation provides that the charges levied on payments in euros between bank accounts in different Member States must not be higher than those levied on payments in euros within a Member State. Transactions by debit card and withdrawals from ATMs are also covered by the Regulation.

Document or Iniciative

Regulation (EC) No 2560/2001 of the European Parliament and of the Council of 19 December 2001 on cross-border payments in euro.

Summary

This Regulation is designed to put charges for cross-border payments in euros on the same footing as those for payments in that currency within a Member State. It sets a maximum amount of €50 000 and does not apply to cross-border payments between institutions for their own account.

Reducing costs and making cross-border payments easier for citizens

Cross-border payments comprise:

cross-border credit transfers: Transactions carried out by the originator via an institution in one Member State, in order to place a sum of money at the disposal of a beneficiary in the latter’s institution in another Member State (the originator and the beneficiary may be the same person);
cross-border electronic payment transactions: Cross-border funds transfers effected by an electronic payment method or cash withdrawals;
cross-border cheques: paper cheques.

An institution must make available to its customers in a readily comprehensible form, in writing and, where appropriate, by electronic means, prior information on the charges levied in respect of: cross-border payments, payments transacted within the Member State in which it is located and the exchange of currencies into and from euros.

Any change in the charges must be notified in advance of the date of application.

Facilitating cross-border transfers: IBAN number and BIC code

Institutions must notify customers on request of their International Bank Account Number (IBAN) and the institution’s Bank Identifier Code (BIC). In order to pay only the charges that apply to domestic transfers, customers are required to indicate the IBAN of the beneficiary and the BIC of the beneficiary’s institution.

Applying the Regulation to Member States outside the euro zone

This Regulation also applies to cross-border payments made in the currency of another Member State, once the latter has notified the Commission that it has decided to extend the Regulation’s application to its currency. To date, only the Swedish authorities have asked for the Regulation’s application to be extended to their currency, the Swedish krona. This means that cross-border payments within the European Union (EU) in Swedish kroner are covered by the Regulation in the same way as payments in euros. (For more information, please consult the document explaining the practical implications of Article 9 of the Regulation (pdf )).

This Regulation also applies to cross-border transfers to accounts in euros even if they have been opened in an EU country outside the euro zone, such as the United Kingdom.

References

Act	Entry into force	Transposition in the Member States	Official Journal
Regulation (EC) No 2560/2001	31.12.2001	–	OJ L 344 of 28.12.2001

Related Acts

Proposal for a Regulation of the European Parliament and of the Council of 13 October 2008 on cross-border payments in the Community [COM(2008) 640 final – Not published in the Official Journal].
This proposed Regulation will replace the above Regulation, in order to realise an Internal Market for payment services in euro. Such an Internal Market will provide national and cross-border payments with the same rules and allow for more effective competition within the EU. The new Regulation will also improve consumer protection and establish the necessary legal framework to create an up-to-date and effective European level payment system.
The proposed amendments to the existing Regulation were derived, in particular, from the Commission’s report on its application (below). With the new Regulation, its scope will be extended so that:

national and cross-border direct debits will also be covered by the equality of charges principle, meaning that costs for these would be the same in each Member State;
the obligation for payment service providers to report on the statistics concerning the balance-of-payments (BoP) will be phased out.

In addition, Member States will be requested to appoint competent authorities and out-of-court redress bodies for ensuring that the new Regulation is applied correctly. These will also provide arbitration and mediation in payment-related disputes.
Co-decision procedure (2008/0194/COD)

Report from the Commission to the European Parliament and the Council of 11 February 2008 on the application of Regulation (EC) No 2560/2001 on cross-border payments in euro [COM(2008) 64 final – Official Journal C 207 of 14.8.2008].

This report examines the practical problems encountered in the application of Regulation (EC) No 2560/2001. It confirms that the Regulation has helped bring about a substantial reduction in the charges linked to cross-border transfers. Also, prompted by the Regulation, the financial services sector has taken the necessary action to realise the notion of an ‘internal payments area’ for non-cash payments, namely the Single Euro Payments Area (SEPA).
Nevertheless, the Commission notes in its report that the Member States should set up competent authorities and proper procedures to permit the amicable settlement of disputes between a bank and its client so as to protect consumers’ rights. In addition, the Regulation should be extended to cover direct debits, a payment method not yet available across borders. The Commission intends to submit a proposal for legislation in autumn 2008.

Communication from the Commission of 2 December 2003 concerning a New Legal Framework for Payments in the Internal Market (Consultative Document) [COM(2003) 718 final – Official Journal C 96 of 21.4.2004].
The purpose of this Communication is to consult interested parties on the general principles underpinning modernisation of the legal framework for retail payment services in the internal market. The consultation, which deals with a number of legal and technical issues, should enable the Commission to put forward appropriate proposals for a new legal framework for payments.

Communication from the Commission of 11 July 2002 pursuant to Article 9 of Regulation (EC) No 2560/2001 of the European Parliament and of the Council [Official Journal C 165 of 11.7.2002].

On 28 June 2002, the Commission received notification of the Swedish authorities’ decision to extend the application of the Regulation to the Swedish krona.

Fees Payable to the Office for Harmonisation in the Internal Market

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Fees Payable to the Office for Harmonisation in the Internal Market

Outline of the Community (European Union) legislation about Fees Payable to the Office for Harmonisation in the Internal Market

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Internal market > Businesses in the internal market > Intellectual property

Fees Payable to the Office for Harmonisation in the Internal Market (OHIM)

Document or Iniciative

Commission Regulation (EC) No 2869/95 of 13 December 1995 on the fees payable to the Office for Harmonisation in the Internal Market (Trade Marks and Designs) [See amending acts].

Summary

The fees governed by the Regulation include an application fee for a Community trade mark, a fee for opposition to a Community trade mark, registration and renewal fees, a fee for an application for revocation or for a declaration of invalidity, an appeal fee and a fee for the cancellation of the registration of a licence or other right.

Payment of fees

Fees and charges due to the Office must be paid:

by payment or transfer to a bank account held by the Office;
by delivery or remittance of cheques made payable to the Office; or
in cash.

Currency of payment

All fees and all costs relating to a Community trade mark application must be paid in euros.

Payment details

For all payments, the name of the person making the payment must be indicated and the following information must be provided:

when paying the application fee, the purpose of the payment, i.e. “application fee”;
when paying the registration fee, the file number of the application being registered and the purpose of the payment, i.e. “registration fee”;
when paying the opposition fee, the file number of the application, the name of the applicant for a Community trade mark whose application is being opposed and the purpose of the payment, i.e. “opposition fee”;
when paying the revocation or invalidity fee, the registration number, the name of the holder of the Community trade mark against which the application is directed and the purpose of the payment, i.e. “revocation fee” or “invalidity fee”.

Deemed date of payment

The date on which a payment is considered to have been made to the Office is as follows:

for a deposit or transfer: the date on which the amount of the payment or transfer is actually entered in a bank account held by the Office;
for delivery or remittance of cheques: the date on which the cheque is received by the Office, provided that it is honoured;
for a cash payment: the date on which the cash payment is received.

Insufficient payment

In principle, a payment deadline is deemed to have been met only if the full amount of the fee has been paid in due time. If the fee is not paid in full, the amount paid will be refunded after the payment deadline has passed.

Refund of insignificant amounts

Where an excessive sum is paid to cover a fee, the excess will not be refunded if the amount is insignificant and the party concerned has not expressly requested a refund. (It is for the President to determine what constitutes an insignificant amount.)

Refund of fees following refusal of protection

If protection is refused the fee to be refunded is shown in the table in Article 2. In the case of an individual mark the fee to be refunded is €1100, plus €200 for each class of goods and services. In the case of a collective mark the fee to be refunded is €2200 plus €400.

If the refusal concerns part of the goods and services, the fee to be refunded is equal to 50% of the difference between the fees per class paid and the fees per class which would have been payable.

Reduction in the fees payable to the OHIM from 2005 and 2009

The Commission decided to reduce the fees payable to the OHIM by adopting Regulation (EC) No 1687/2005 of 14 October 2005, which is designed to reduce the cost of protecting intellectual property for businesses operating in the EU’s single market. This reduction in fees is the result of productivity gains at the OHIM, which therefore wanted to pass the savings on to business as a whole.

Regulation (EC) No 355/2009 of March 2009 reduces the fees charged by the OHIM and simplifies the fee structure by fixing the amount of the registration fee for a Community trade mark at zero. Only the application fee need be paid. The registration fee is also fixed at zero in relation to international registrations. These reductions in fees are carried out in order to ensure that the OHIM budget is balanced while fostering access to the Community trade mark system for users.

The consequences of the reductions made in 2009 include the following:

entreprises will only have to pay an application fee of €1050 instead of the €1750 that it previously cost to apply for and register a Community trade mark;
applications made by Internet will be charged at an even lower rate, which will be €900 instead of the €1600 payable in total at present.

References

Act	Entry into force – Date of expiry	Deadline for transposition in the Member States	Official Journal
Regulation (EC) No 2869/95	22.12.1995	_	OJ L 303, 15.12.1995

Amending act(s)	Entry into force	Deadline for transposition in the Member States	Official Journal
Regulation (EC) No 781/2004	1.10.2004	–	OJ L 123 of 27.4.2004
Regulation (EC) No 1042/2005	25.7.2005	–	OJ L 172 of 5.7.2005
Regulation (EC) No 1687/2005	22.10.2005	–	OJ L 271 of 15.10.2005
Regulation (EC) No 355/2009	1.5.2009	–	OJ L 109 of 30.4.2009

Related Acts

Communication of 22 December 2006 from the Commission to the European Parliament and the Council – The financial perspectives of the Office for Harmonisation in the Internal Market (Trade Marks and Designs) [COM(2006) 865 final – Not published in the Official Journal].
This Communication deals with the long-term management of the financing of the OHIM. The OHIM provides EU-wide protection for trade marks and designs for companies from all over the world. It is funded by the businesses that use its services. The OHIM is generating substantial cash reserves, particularly as a result of the ever increasing number of applications for trade marks and designs. Despite fee reductions in 2005, cash reserves are expected to increase still further in the next few years. However, the annual surplus cannot be allowed to continue to exceed the financial resources needed by the Office to operate. The Commission has therefore proposed a periodic review of the fees payable for Community trade marks in order to ensure that the OHIM has a more balanced budget.

Council Regulation (EC) No 207/2009 of 26 February 2009 on the Community trade mark [Official Journal L 78/1 of 24.3.2009].

Authorisation and supervision of medicinal products – European Medicines Agency

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Authorisation and supervision of medicinal products – European Medicines Agency

Outline of the Community (European Union) legislation about Authorisation and supervision of medicinal products – European Medicines Agency

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Internal market > Pharmaceutical and cosmetic products

Authorisation and supervision of medicinal products – European Medicines Agency

Document or Iniciative

Regulation (EC) No 726/2004 of the European Parliament and of the Council of 31 March 2004 laying down Community procedures for the authorisation and supervision of medicinal products for human and veterinary use and establishing a European Medicines Agency [See amending acts].

Summary

With this Regulation, the European Union (EU) develops and improves European procedures for the authorisation, supervision and pharmacovigilance of medicinal products for human and veterinary use. The Regulation also provides the legal basis for the European Medicines Agency, which was established in 1993.

AUTHORISATION OF MEDICINAL PRODUCTS

Scope

No medicinal product appearing in the Annex may be placed on the European market without prior authorisation from the EU. The centralised authorisation procedure will be compulsory for:

medicinal products derived from biotechnology;
advanced therapy medicinal products;
orphan medicinal products;
medicinal products containing an entirely new active substance for which the therapeutic indication is the treatment of acquired immune deficiency syndrome, cancer, neurodegenerative disorder or diabetes, auto-immune diseases and other immune dysfunctions and viral diseases.

The centralised authorisation procedure will be optional for:

other medicinal products containing a new active substance;
medicinal products which constitute a therapeutic, scientific or technical innovation or are of interest at Community level.

Immunological veterinary medicinal products for the treatment of animal diseases that are subject to Community prophylactic measures may also be granted such authorisation. Finally, generic medical products of reference medicinal products authorised by the EU may be subject to a decentralised authorisation procedure, provided that the harmonisation achieved at European level is maintained.

Authorisation of medicinal products for human use

The Committee for Medicinal Products for Human Use is part of the European Medicines Agency. It is responsible for drawing up the opinion of the Agency on any matter concerning the evaluation of medicinal products for human use.

Each application for authorisation must be accompanied by the particulars and documents referred to in Directive 2001/83/EC on the Community code relating to medicinal products for human use, and by the fee payable to the Agency. It should also contain a statement to the effect that clinical trials carried out outside the European Union meet the principles of good clinical practice and the ethical requirements of Directive 2001/20/EC on good clinical practice in the conduct of clinical trials on medicinal products for human use.

Each authorisation decision must be taken on the basis of scientific criteria concerning the quality, safety and efficacy of the medicinal product concerned. These three criteria make it possible to assess the risk-benefit balance of all medicinal products. The Committee verifies first of all that conditions for granting a marketing authorisation are satisfied. If this is not the case, the applicant is informed forthwith and he/she may give notice to the Agency within fifteen days that he/she wishes to request a re-examination of the opinion.

In general, the Committee must give its opinion within 210 days after receipt of the application. This analysis may involve a test being conducted on the medicinal product, its starting materials or its intermediate products and a specific inspection of the manufacturing site of the medicinal product concerned.

Within 15 days after receipt of the opinion, the Commission prepares a draft of the decision on the application which may contain the marketing authorisation. If this draft decision is not in accordance with the opinion of the Agency, the Commission annexes an explanation of the reasons for the differences, which is forwarded to Member States and the applicant. The Commission takes a final decision following a procedure of consultation of the Member States (comitology) within 15 days of the end of the procedure.

After verification of the particulars and documents submitted, the marketing authorisation may be refused if:

the applicant has not properly or sufficiently demonstrated the quality, safety or efficacy of the medicinal product;
the particulars provided are incorrect.

At the time of authorisation, or once the marketing authorisation has been issued, the Agency may recommend that the Commission impose an obligation to carry out:

a post-authorisation safety study;
a post-authorisation efficacy study.

These obligations are contained in the authorisation and in the risk management system.

The marketing authorisation is valid for five years and may be renewed. Once it has been renewed, the marketing authorisation is valid for an unlimited period unless the Commission once again opts for a validity of five years.

Authorisation of medicinal products for veterinary use

The Committee for Medicinal Products for Veterinary Use is part of the Agency. It has sole responsibility for preparing the Agency’s opinions on all questions concerning the evaluation of veterinary medicinal products.

Most of the above considerations apply in this field, subject to adjustments relating to certain technical or scientific characteristics.

The marketing authorisation may be refused if:

the applicant has not properly or sufficiently demonstrated the quality, safety or efficacy of the medicinal product;
the product is presented for a use prohibited under European law;
the health and welfare of animals or consumer safety are not sufficiently taken into account in the case of zootechnical veterinary medicines and performance enhancers;
the withdrawal period indicated by the applicant is not long enough to ensure that foodstuffs obtained from treated animals do not contain residues which might constitute a health hazard for the consumer.

For both categories of medicinal products, if the products marketed are of major therapeutic interest, the applicant can request an accelerated assessment procedure.

The refusal of an EU marketing authorisation constitutes a prohibition on the placing on the market of the medicinal product throughout the EU. Any marketing authorisation which is not followed by the actual placing of the medicinal product on the market for three consecutive years ceases to be valid.

SUPERVISION OF MEDICINAL PRODUCTS (PHARMACOVIGILANCE)

Pharmacovigilance rules are necessary in order to protect public health and to prevent, detect and assess the undesirable effects of medicinal products for human use placed on the EU market, insofar as the safety profile of medicinal products can only be fully appreciated after products have been marketed. In the light of the knowledge obtained and following an assessment by the Commission of the EU pharmacovigilance system, it transpired that measures to improve the European pharmacovigilance system were required.

The Regulation provides for increased market surveillance by reinforcing monitoring procedures. When the medicinal product has been manufactured in the EU, the supervisory authorities are the competent authorities of the Member States which granted the manufacturing authorisation. In the case of medicinal products imported from third countries, the competent authorities are those that granted the import authorisation. These must inform the Committee for Medicinal Products and the Commission of all instances where the manufacturer or importer fails to fulfil the obligations laid down.

The holder of a marketing authorisation for a medicinal product for human or veterinary use is obliged to make any variations that may be required taking account of the manufacturing methods and of technical and scientific progress in accordance with Directives 2001/83/EC and 2001/82/EC.

The holder must also ensure that the medicinal product is manufactured and monitored according to generally accepted scientific methods. He/she must supply to the Agency, to the Commission and to the Member States any new information which might entail the variation of the particulars or documents they have obtained. He/she must also relay any prohibition or restriction imposed in countries in which the medicinal product is marketed, as well as any other information which might influence the evaluation of the benefits and risks of the medicinal product. The holder of the marketing authorisation must also forward the results of clinical trials or other studies. This information must be updated regularly on the basis of recent scientific knowledge.

When there are serious differences of opinion between Member States with respect to whether the holder of a marketing authorisation, a manufacturer or an importer satisfies the requirements set in Directives 2001/83/EC and 2001/82/EC, the Commission may request a new inspection of the marketing authorisation holder, the manufacturer or the importer.

Where urgent action is essential to protect human health or the environment, a Member State may suspend the use in its territory of an authorised medicinal product.

Risk management

The holders of marketing authorisations issued prior to 2 July 2012 are not obliged to implement a risk management system for each medicinal product.

However, the Agency may nevertheless impose upon the holder of a marketing authorisation an obligation to implement such a system if it detects risks that might modify the risk-benefit balance of an authorised medicinal product.

Obligations incumbent upon holders of marketing authorisations, Member States, the Agency and the Commission apply to safety notices concerning medicinal products for human use.

The Agency must draw up and update a list of medicinal products that are to be the subject of further monitoring. This list must give:

the name of and active substances contained in medicinal products authorised in the EU if such medicinal products contain a new active substance which, until 1 January 2011, was not contained in any medicinal product authorised in the Union;
the name of and active substances contained in any biological medicinal product authorised after 1 January 2011.

EudraVigilance database

The Agency has set up the EudraVigilance database, the aim of which is to collate pharmacovigilance information relating to medicinal products authorised in the EU and to make such information accessible to the competent authorities.

EudraVigilance collects information relating to the undesirable effects on humans arising following use, whether compliant or not, of medicinal products, or those which come to light during post-authorisation studies. On the basis of this information, the Agency prepares an annual report which is sent to the Commission, the European Parliament and the Council.

The Agency takes the following measures concerning medicinal products for human use that have been authorised by means of the centralised procedure:

monitoring the results of measures to minimise the risks outlined in risk management plans;
assessment of updates to risk management systems;
monitoring information contained in the EudraVigilance database.

Cooperation

The Agency collaborates with the World Health Organization (WHO) as regards pharmacovigilance, as well as with the European Monitoring Centre for Drugs and Drug Addiction.

It collaborates with the Member States on the international harmonisation and standardisation of technical measures related to pharmacovigilance.

PROVISIONS CONCERNING THE EUROPEAN MEDICINES AGENCY

The European Medicines Agency is made up of different committees, including the Committee for Medicinal Products for Human Use, the Pharmacovigilance Risk Assessment Advisory Committee, the Paediatric Committee, the Committee on Herbal Medicinal Products, the Committee for Advanced Therapies, a secretariat and a Management Board. Each Member State appoints one member and one alternate of the Management Board and one member and one alternate to the Committees. The members of each Committee may be accompanied by experts in specific scientific or technical fields.

The Agency is specifically responsible for:

providing the Member States and the EU institutions with the best possible scientific advice on any question relating to the evaluation of the quality, safety and efficacy of medicinal products for human or veterinary use which are referred to it;
coordinating the scientific evaluation of the quality, safety and efficacy of medicinal products which are subject to European marketing authorisation procedures and the scientific resources put at its disposal by Member States for the evaluation, supervision and pharmacovigilance of medicinal products;
coordinating the supervision of medicinal products for human use which have been authorised in the EU;
keeping, and transmitting on request, assessment reports and information on authorised medicinal products;
collecting and disseminating information on potential adverse reactions to medicinal products for human use authorised in the EU, by means of a database permanently accessible to all Member States;
assisting Member States with the rapid communication of information to health-care professionals;
creating a database on medicinal products which is accessible to the general public;
advising on the maximum limits for residues of veterinary medicinal products and biocidal products used in animal husbandry which may be accepted in foodstuffs of animal origin.

Each committee establishes a standing working party with the sole remit of providing scientific advice to businesses, particularly small and medium-sized enterprises (SMEs), during the research stage and when developing new therapies. The objective is to stimulate pharmaceutical research in Europe, and thus allow patients to benefit earlier from more effective medicinal products.

The Agency’s revenue consists of a contribution from the EU and fees paid by undertakings for obtaining and maintaining EU marketing authorisations and for other services provided by the Agency. SMEs may pay reduced fees, defer payment of the fee, or receive administrative assistance under certain conditions.

References

Act	Entry into force	Deadline for transposition in the Member States	Official Journal
Regulation (EC) No 726/2004	20.5.2004	–	OJ L 136, 30.4.2004

Amending act(s)	Entry into force	Deadline for transposition in the Member States	Official Journal
Regulation (EC) No 1901/2006	26.1.2007	–	OJ L 378, 27.12.2006
Regulation (EC) No 1394/2007	3.12.2007	–	OJ L 324, 10.12.2007
Regulation (EC) No 219/2009	20.4.2009	–	OJ L 87, 31.3.2009
Regulation (EC) No 470/2009	6.7.2009	–	OJ L 152, 16.6.2009
Regulation (EU) No 1235/2010	1.1.2011 (applicable from 2.7.2012)	–	OJ L 348, 31.12.2010

Subsequent amendments and corrections to Regulation (EC) No 726/2004 have been incorporated in the basic text. This consolidated version has a purely documentary value”.

Related Acts

Commission Regulation (EC) No 658/2007 of 14 June 2007 concerning financial penalties for infringement of certain obligations in connection with marketing authorisations granted under Regulation (EC) No 726/2004 of the European Parliament and of the Council [Official Journal L 155 of 15 June 2007].

This Regulation lays down rules concerning the application of financial penalties to the holders of marketing authorisations who infringe certain obligations. It provides for two types of financial penalties: fines and periodic penalty payments.

Commission Regulation (EC) No 507/2006 of 29 March 2006 on the conditional marketing authorisation for medicinal products for human use falling within the scope of Regulation (EC) No 726/2004 of the European Parliament and of the Council [Official Journal L 92 of 30 March 2006].

Commission Regulation (EC) No 2049/2005 of 15 December 2005 laying down, pursuant to Regulation (EC) No 726/2004 of the European Parliament and of the Council, rules regarding the payment of fees to, and the receipt of administrative assistance from, the European Medicines Agency by micro, small and medium-sized enterprises [Official Journal L 329 of 16 December 2005].

Combating fraud and counterfeiting of means of payment

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Combating fraud and counterfeiting of means of payment

Outline of the Community (European Union) legislation about Combating fraud and counterfeiting of means of payment

Topics

These categories group together and put in context the legislative and non-legislative initiatives which deal with the same topic.

Internal market > Single market for services > Financial services: banking

Combating fraud and counterfeiting of means of payment

Document or Iniciative

Council Framework Decision 2001/413/JHA of 28 May 2001 on combating fraud and counterfeiting of non-cash means of payment.

Summary

The aim of this framework decision is to supplement a series of other measures already taken by the Council on combating fraud and counterfeiting of non-cash means of payment:

Joint Action 98/428/JHA on the creation of a European Judicial Network;
Joint Action 98/733/JHA on making it a criminal offence to participate in a criminal organisation in European Union (EU) countries;
Joint Action 98/699/JHA on money laundering, the identification, tracing, freezing, seizing and confiscation of instrumentalities and the proceeds from crime.

Under this framework decision, fraud involving any form of non-cash means of payment will be recognised as a criminal offence that is punishable by effective, proportionate and dissuasive penalties in all EU countries.

Criminal offences

The framework decision deliberately avoids references to specific offences under the existing criminal law because they do not cover the same elements everywhere. Instead, the framework decision merely lists the various types of behaviour that should be criminal offences throughout the Union. Different types of behaviour are defined on the basis of whether they are directed at the payment instrument itself or the making of payment instruments, one or more payment transactions or the system itself for ordering, collecting, processing, clearing and settling payment transactions.

Penalties

All the types of behaviour mentioned above are to be classified as criminal offences in all EU countries. This means that the latter must provide for penalties for these offences, depending on whether natural or legal persons commit them. Penalties must be effective, proportionate and dissuasive. They will not necessarily involve deprivation of liberty, except in the most serious cases, which may give rise to extradition. EU countries will have some discretion in determining the gravity of an offence and the nature and severity of the penalties that apply.

Jurisdiction

A series of criteria has been established to determine the jurisdiction of the national judicial authorities in respect of the offences referred to in the framework decision. An EU country will establish its jurisdiction where an offence is committed:

on its territory;
by its nationals (where extraterritorial jurisdiction is recognised by the EU country);
for the benefit of a legal person having its headquarters in the competent EU country.

Provision has also been made for offenders to be prosecuted in cases where an EU country does not extradite its own nationals.

Cooperation

Arrangements have been put in place to ensure that the public and private bodies that manage, monitor and oversee payment systems cooperate with the national authorities responsible for investigating the offences described in the framework decision and taking action against the perpetrators. Additional cooperation mechanisms may be set up between EU countries in accordance with the conventions, bilateral or multilateral agreements or any other arrangements that apply. The Commission will report to the Council on EU countries’ compliance with the provisions of the framework decision.

This act is affected by Case C-176/03 of the Court of Justice of the European Union regarding the distribution of powers in criminal matters between the Commission and the Council.

References

Act	Entry into force	Deadline for transposition in the Member States	Official Journal
Framework Decision 2001/413/JHA	2.6.2001	2.6.2003	OJ L 149 of 2.6.2001

Related Acts

Report from the Commission of 20 February 2006 – Second report based on Article 14 of the Council Framework Decision of 28 May 2001 combating fraud and counterfeiting of non-cash means of payment [COM(2006) 65 final – Not published in the Official Journal].

Report from the Commission of 30 April 2004 based on Article 14 of the Council Framework Decision of 28 May 2001 combating fraud and counterfeiting of non-cash means of payment [COM(2004) 346 final – Not published in the Official Journal].