What are CASPs?

CASP (Crypto Asset Service Provider) is a term used to refer to entities, companies, or individuals specialized in offering financial services related to digital assets and cryptocurrencies. Within this group of financial services, we can highlight custody services, crypto payment processors, digital wallets (Wallets), Exchanges, and consulting, among others.

What are CASP licenses?

CASP licenses aim to ensure that Crypto Asset Service Providers (CASPs) comply with the regulations established in the MiCA regulation and that they are authorized to offer services related to crypto assets and digital assets within the European Union.

Who regulates and oversees CASP licenses?

The MiCA regulatory framework states that the regulation, supervision, and granting of CASP licenses is the responsibility of the financial regulatory body designated by each of the European Union member states within their respective jurisdiction. In this way, each national financial authority will regulate and supervise the MiCA requirements within its respective jurisdiction, ensuring compliance with the regulatory framework in a balanced manner throughout the European Union.

How do you get a CASP license?

Crypto Asset Service Providers (CASPs) seeking to obtain an EU CASP license must have a reliable and secure system for handling crypto assets, comply with anti-money laundering laws, implement effective strategies to manage and minimize risks, as well as demonstrate operational transparency through constant and complete disclosure of financial information and transaction records.

The transition period for existing suppliers

As the application process for an EU CASP license can take several months, a transition period has been established for existing virtual asset service providers, ensuring that these providers comply with the new regulations set out in the Markets in Crypto-Assets Regulation (MiCA).

This transition period allows existing providers to continue their operations using existing licenses until mid-2026, by which time the MiCA regulation is expected to have been adopted into local legislation in all EU Member States.

What do you think about this topic? Do you want to know more about the licenses and regulations related to CASPs in the European Union?

If you are interested in Pilsenga products or services, you can contact us by visiting the following link.

The post What are EU CASP licenses? first appeared on Pilsenga blog.

Beginnings

The concept of batch payment began with manual batch processing, specifically in the late 19th century. The punched card system (developed by statistician Herman Hollerith) made it possible to process data from the 1890 United States census in an innovative and efficient manner, as punched cards drastically reduced the time required to process census data. For example, instead of taking several years (as in previous censuses), processing data for the 1890 census took only a few months. The method involved encoding information by punching holes in the cards, which were read by a tabulating machine that could automatically count and sort the data.

Using mainframe computers

The use of punch cards not only improved efficiency but also marked the beginning of the application of technologies in the management of large volumes of data, laying the foundation for the modern computing and information technology industry. It is important to note that Hollerith’s technology was so successful that he later founded a company that would become IBM (International Business Machines).

Through the use of punch cards, companies entered data into central computers, which were then processed quickly and accurately, which allowed different repetitive tasks to be automated with greater precision. This technology allowed companies to execute the first batch payments around 1950 to pay payroll, suppliers, and end-of-month reconciliations, which were repetitive tasks on a monthly basis.

This great technological advance allowed batch payment processes, data processing, inventory management, payroll, or billing to be carried out in a more efficient and secure way. For example, batch payment of payroll or vendors was achieved because companies could collect all employee and vendor paychecks into a single batch and process them together on the mainframe.

For monthly reconciliation, Batch Payments for Business allowed businesses to collect and process all financial information for the month, then batch process all the data on the mainframe to ensure the accuracy and consistency of all transactions.

Digital transition of batch payments

The last three decades of the 20th century saw a major technological advancement that benefited batch payments, making the system more efficient and accessible. The biggest breakthrough came in the early 1970s through the late 1980s with the adoption of the automated clearing house (ACH) system, which allowed banks to transact funds with other banking entities, helping to streamline batch payments to vendors and payrolls. Instead of processing each transaction individually, ACH groups multiple payments into batches, significantly reducing costs and processing time.

With the advent of digitalization, electronic payment systems began to be integrated into business processes. Platforms such as electronic funds transfers (EFT) and automated clearing systems (ACH) enabled organizations to process multiple payments simultaneously, reducing costs and increasing efficiency.

Batch payment in the Internet era

At the end of the 20th century, batch payments underwent their second digital transformation, which led to them being adopted by more companies. During the 1990s, the Internet era emerged, which generated the creation of electronic commerce and, therefore, led financial institutions to offer online banking services, which allowed companies and consumers to market different products and services within the web, especially by using credit and debit cards to make electronic payments, either through emerging payment gateways and other digital payment systems, which allowed multiple payments to be made in a single transaction.

Batch payment in the 21st century

During the 21st century, batch payments have benefited from the advancement of technology and its application in financial systems. Batch payments are currently more efficient, secure, and profitable since Fintechs have developed software and online platforms that allow companies to automate their group payment processes, thus offering the possibility of having faster and more efficient financial transactions.

An example of the significant advances and collaborations that the organizations have had, financial institutions and companies in the last two decades, is the adoption and implementation of the SEPA payment system, which has allowed for efficient “batch payment” transactions within the countries belonging to the Eurozone.

What do you think about this topic? Do you want to know more about the batch payment service?

If you are interested in Pilsenga’s products or services (including batch payment service for businesses), you can contact us by visiting the following link.

The post History of batch payments first appeared on Pilsenga blog.

Purpose

The Digital Operational Resilience Act (DORA) and the Markets in Cryptoassets Regulation (MiCA) are European Union regulations that serve different purposes. For example, the Digital Operational Resilience Act (DORA) aims to ensure the resilience of financial institutions and service providers to information technology risks and to reduce the risk of cyberattack communication (ICT).

For its part, the Cryptoasset Markets Regulation (MiCA) aims to create a regulatory framework for cryptoassets within the member states of the European Union, providing greater legal certainty and protection, both to consumers and to the market in general.

Scope

The DORA Law was developed to be applied to financial institutions and critical entities within the European Union financial market, which must comply with the DORA Law by adopting and applying ICT systems and processes that allow them to withstand possible failures or operational interruptions, in addition to other risks related to information and communication technologies (ICT).

On the other hand, MiCA has a more limited scope in relation to the DORA law, since MiCA was developed to be applied to entities, institutions, and companies providing financial services and organizations that operate in the market and that are involved in the issuance, negotiation, and custody of cryptoassets (Crypto Asset Service Providers, CASP) within the European Union.

Approach

The DORA Act primarily focuses on ensuring the resilience, responsiveness, and recovery of financial institutions and firms within the European Union that may be affected by operational disruptions and ICT-related cyber threats.

On the other hand, MiCA focuses primarily on ensuring that the crypto-asset market within the European Union remains with a high degree of integrity and financial stability, as well as guaranteeing the trust and security of consumers and investors.

Key elements

The Digital Operational Resilience Act (DORA) and the Markets in Cryptoassets Regulation (MiCA) differ in the way they regulate, as they make use of different key elements to achieve their objective.

DORA Act seeks to improve the resilience of companies, financial institutions, and ICTs through key elements such as risk management, third-party monitoring (critical ICT service providers), incident reporting standards, and ICT system testing.

MiCA, for its part, seeks to regulate the cryptoasset market through key elements such as requirements for cryptoasset issuers and service providers, rules for cryptoasset trading platforms, and the classification and regulation of cryptoassets.

What do you think about this topic? Do you want to know more about the European Union’s DORA and MiCA regulations?

If you are interested in Pilsenga products or services, you can contact us by visiting the following link.

The post Difference between the DORA and MiCA regulations of the European Union first appeared on Pilsenga blog.

Calpine Corporation

Calpine Corporation is an American company that was founded in 1984. It is characterized by being a company specialized in renewable energy and is currently the main generator of electric energy in the United States, mainly taking advantage of sources such as natural gas and geothermal resources. The company has an approximate generation capacity of 27,000 megawatts with which it can supply energy to 27 million homes.

Calpine Corporation operates The Geysers project, the world’s largest geothermal energy complex, which harnesses natural steam from deep wells to generate clean, renewable electricity—enough to supply half of the geothermal energy consumed by the state of California.

Energy Development Corporation (EDC)

Energy Development Corporation (EDC) is a geothermal energy company based in the Philippines, known for being the number one geothermal energy producer in the Philippines and the second largest producer in the world. Energy Development Corporation operates geothermal power plants in various regions of the Philippines, through which they offer 100% renewable and affordable energy.

Enel Green Power

Enel Green Power is an Italian company founded in 2008. It is part of the Enel Group and is known for being a company specialized in the development and management of renewable energies, such as geothermal energy. Through its geothermal power plants, Enel Green Power is able to extract heat from deep wells (3,000 meters deep) to convert it into electrical or thermal energy.

Ormat Technologies

Ormat Technologies is an American company founded in 1965 and specializes in geothermal energy. Headquartered in Nevada (United States), it is characterized by being a company specializing in the exploration, design, development, construction, and operation of geothermal power plants around the world. It stands out for its more than 190 geothermal power plants distributed in different projects in North America, South America, Europe, Asia, and Australia.

Pertamina Geothermal Energy

Pertamina Geothermal Energy is a company founded in 2006 and is part of PT Pertamina or Perseo (Indonesia’s state-owned oil and gas company). Pertamina Geothermal Energy is characterized by being a company focused on the exploration and use of geothermal resources in Indonesia, a country with extensive geothermal potential thanks to its geographical location on the “Ring of Fire,” a 40,000-kilometer-long tectonic chain located in the Pacific Ocean, shaped like a horseshoe and characterized by high seismic and volcanic activity.

It is worth noting that thanks to Pertamina Geothermal Energy’s ability to provide 82% of Indonesia’s installed geothermal energy capacity, they have managed to reduce CO2 emissions by almost 10 million tons per year, thus contributing to national and global decarbonization.

Novomet

Novomet is a Russian company founded in 2018 that specializes in the design, development, construction, and installation of geothermal technologies. It is a company that offers a wide range of solutions for the completion and production of wells, including equipment for upper and lower completion systems necessary for the exploitation of geothermal resources. Novomet offers technology, products and services that ensure the efficient, reliable and sustainable operation of geothermal wells in the long term.

China Shaanxi Geothermal Energy Development Corporation

China Shaanxi Geothermal Energy Development Corporation is a Chinese company founded in 2013 that specializes in renewable energy, particularly in the geothermal energy sector. It is characterized by being a company that takes advantage of geothermal resources to produce clean and sustainable energy. One of the most important projects is the Yangbajing geothermal power plant in Tibet and the Xianyang geothermal power plant in Shaanxi.

NIBE Group

NIBE Group is a Swedish company founded in 1955, specializing in the design, development, manufacturing and supply of energy solutions for air conditioning and indoor heating. NIBE Group is currently a company with a presence around the world and has focused on the distribution of products that offer an efficient solution for air conditioning and indoor heating by using solar and geothermal energy. Among the most important products supplied by NIBE Group are heat pumps and geothermal installation equipment.

Terra-Gen Power

Terra-Gen Power is an American company founded in 2007 that specializes in the exploration, design, development and operation of utility-scale renewable energy projects. Terra-Gen Power is one of the leading companies in the United States that generate renewable energy through different technologies, including geothermal, solar and wind energy, thus promoting and contributing to sustainable energy solutions.

Alterra Power Corp

Alterra Power Corp is a Canadian company founded in 2011 that specializes in the generation of renewable energy, where it stands out its hydroelectric, wind, solar, and geothermal power plants. It is worth noting that Alterra Power Corp’s geothermal operations are primarily carried out in the United States and Iceland, such as the Reykjanes geothermal power plant in Iceland, which has an installed generating capacity of approximately 100 MW.

What do you think about this topic? Do you want to know more about Pilsenga’s financial services for energy companies?

If you are interested in Pilsenga’s products or services (including financial services for energy companies) you can contact us by visiting the following link.

The post What are the top 10 geothermal energy companies globally? first appeared on Pilsenga blog.

Regulates only large entities or companies

Many people and companies believe that the Markets in Crypto-Assets Regulation (MiCA) applies only to large financial institutions and companies (crypto-asset service providers or CASPs). However, the truth is that MiCA is a regulation that applies to entities and companies of all sizes (small, medium and large), therefore, it ensures that all crypto-asset service providers comply with the different regulatory standards.

Regulates only entities and companies established in the EU

Many people and companies assume that the Markets in Crypto-Assets Regulation (MiCA) applies only to financial institutions and companies (crypto-asset service providers) based within the European Union. However, this is not entirely correct. MiCA regulates all providers “operating” within the territory of the European Union, even if they are established in other countries or regions. For example, a crypto-asset service provider based in the United States but providing services within the European Union will also be required to comply with this regulation.

Highly restrictive regulations that prevent innovation

Some people and companies think that the Markets in Cryptoassets Regulation (MiCA) is a very restrictive regulation, which can hinder technological growth and innovation. However, the truth is that this regulation (even though it has high standards) also allows flexibility and adaptation to technological advances, in addition to promoting innovation through a clear legal framework so that companies (that provide these services) can operate efficiently and legally.

Restrict or ban cryptocurrencies

Many people and businesses have come to believe that the Markets in Crypto-Assets Regulation (MiCA) restricts or bans cryptocurrencies. However, the truth is that this regulation does not ban cryptocurrencies; on the contrary, its objective is to help develop the market by regulating crypto-asset products/services to ensure transparency and consumer protection.

Just regulate stablecoin

Many people and companies have come to think that the Markets in Cryptoassets Regulation (MiCA) only regulates stablecoins (for example, Tether USDT). However, the truth is that this regulation is designed to regulate a wide range of cryptocurrencies, cryptoassets and complementary services, among which stand out electronic money tokens, asset-referenced tokens, stablecoins, cryptocurrencies (such as Bitcoin and Etherum) and other digital assets , which allows to guarantee greater control and transparency in the cryptoasset market.

What do you think about this topic? Do you want to know more about the Markets in Cryptoassets Regulation (MiCA)?

If you are interested in Pilsenga products or services, you can contact us by visiting the following link.

The post Five myths about the Markets in Cryptoassets Regulation (MiCA) first appeared on Pilsenga blog.

MiCA Regulation (Markets in Crypto-Assets)

The Markets in Crypto-Assets Regulation (MiCA) is a comprehensive regulatory framework that allows for the regulation of crypto assets and their service providers. It is important to note that this is the most important, and extensive regulation adopted by the European Union for cryptocurrencies. Among the highlights of this regulation are the following:

Establish a clear framework for the issuance, trading, and use of cryptoassets.
Require crypto-asset service providers to be licensed and subject to oversight by competent national authorities, ensuring certain standards of security, legality, and quality in the sector.
Identify and regulate various types of cryptoassets, as each has different characteristics and requirements. In this way, the aim is to maintain a stable value by backing each electronic money token in relation to a single official currency.
Include measures to protect consumers in the cryptoasset market.
Apply uniform rules for all service providers and issuers of cryptoassets that were previously not regulated by existing EU financial services legislation.

AMLD Directive (Anti-Money Laundering Directive)

The European Union enforces anti-money laundering measures through its Anti-Money Laundering Directive (AMLD). Cryptocurrency exchanges and digital wallet providers are required to comply with Know Your Customer (KYC) requirements and report suspicious activity.

It is important to note that with the sixth update of this directive (AMLD6), the rules to combat financial crimes in the cryptoasset sector were strengthened, as this update expands the list of underlying crimes (or predicate crimes) that can be considered as money laundering, including tax crimes, environmental crimes, cybercrime and trafficking in cultural property.

Digital Operational Resilience Act (DORA)

The Digital Operational Resilience Act (DORA) is a regulation created by the European Union that seeks to strengthen the security of information and communications technologies (ICT) used by financial institutions.

Among DORA’s main objectives are the following:

Harmonize regulations, creating a unified framework for information and communications technology (ICT) risk management across the European Union.
Strengthen the stability of the financial system by ensuring that financial institutions can prevent, withstand, and recover from any type of disruption or problem related to the use of information and communications technologies (ICT).
Improve third-party risk management, especially those involving the management or storage of information in the cloud and data centers.
Improve security and oversight of critical third-party vendors.

General Data Protection Regulation (GDPR)

Although this regulation is not specifically designed for crypto assets, the GDPR regulates how personal data is handled on cryptocurrency-related platforms. This regulation aims to ensure that companies ensure that their users’ data is protected and processed in accordance with privacy laws.

Supervision and Coordination by ESMA and EBA

Importantly, the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) oversee the implementation of these regulations, issuing guidelines on how to interpret and apply the rules in the context of cryptoassets.

What do you think about this topic? Do you want to know more about the European Union’s regulations for cryptocurrencies?

If you are interested in Pilsenga products or services, you can contact us by visiting the following link.

The post Main EU regulations for cryptocurrencies first appeared on Pilsenga blog.

Payment processors

Payment processors are tools (that act as intermediaries) that allow the carry-out of electronic transactions between two parties (customers and businesses). A payment processor allows the transfer of funds quickly, efficiently, and with a high level of security.

It should be noted that the concept of “payment processors” has evolved over time, focusing mainly on managing business transactions in a manner that is safe, flexible, and efficient, which is why these tools continue to grow and adapt to new technologies and consumer needs.

Beginnings

Payment processors had their beginnings in 1958, specifically at the hands of Bank of America, when it innovated with the first BankAmericard credit card, through which consumers could make credit purchases using paper vouchers.

Between the 1950s and 1960s, companies such as Diners Club and American Express also launched their first credit cards.

Pre-Internet electronic era

In the late 1970s, BankAmericard was renamed Visa, which, relying on technology, introduced the credit card terminal in 1978, which allowed them to transform the paper voucher payment processing service into an electronic transaction payment processing service.

It is important to note that the first point-of-sale (POS) terminals for processing card payments were connected to telephone lines and required manual confirmation.

Thanks to the rise of this type of technology based on electronic payment platforms, during the 1980s the need for new payment terminals arose, which drove the development of hardware manufacturers such as Hypercom, Ingenico, and Verifone.

Evolution of the Internet and online payments

The 1990s saw the rise of the Internet. This technology had a significant impact on payment processors, as the technology applied in physical payment terminals was implemented by Fintech companies on the Internet, which allowed the development and implementation of different online payment gateways.

The rise of the Internet and the implementation of payment gateways were technologies that were adapted to existing payment processors. However, in 1994, eBay and Amazon were launched, which led to the development of another type of tool. At that time, payment processors found it necessary to develop “virtual payment terminals” that could be implemented in electronic commerce.

Payment processors today

As we have seen, payment processors have been evolving as technological advances arise. This is because they are constantly updating and seeking to offer more secure, efficient, and flexible payment solutions, especially to accept different payment methods and adapt to the new needs of consumers and companies.

Currently, technological advancement has allowed payment processors to expand their capacity, especially with the adoption of blockchain technology, support for digital wallets and mobile payments. All of this has made it possible that, in addition to accepting FIAT money (such as dollars or euros), they also accept different cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), or Tether (USDT).

What do you think about this topic? Do you want to know more about the Pilsenga payment processor?

If you are interested in Pilsenga products or services, you can contact us by visiting the following link.

The post History of payment processors first appeared on Pilsenga blog.

To address this issue, the European Union created the Digital Operational Resilience Act (DORA), which seeks to generate greater trust in the digital environment, as well as help online platforms in the financial sector to operate smoothly. Below, we will learn more about this law.

What is the European Union’s Digital Operational Resilience Act (DORA)?

The Digital Operational Resilience Act (DORA) is a regulation created by the European Union that seeks to strengthen the security of information and communications technologies (ICT) used by financial institutions.

Why was the DORA law created, and when did it come into effect?

The DORA Law It was created with the aim of ensuring that all financial institutions and companies have the capacity to prevent, resist, recover and adapt to possible problems or incidents related to information and communications technologies.

Although this regulation was enacted on January 16, 2023, it will only come into force on January 17, 2025, and failure to comply with it may result in significant financial penalties, operational disruptions, and damage to the reputation of financial institutions and companies.

Objectives of the DORA law

The European Union hopes that with the implementation of the DORA Law, the following objectives:

Harmonizing regulations

DORA Act aims to create a unified framework for information and communications technology (ICT) risk management across the European Union, thereby reducing regulatory fragmentation and ensuring a consistent approach across Europe.

Strengthening financial stability

With this law, the European Union seeks to strengthen the stability of the financial system, ensuring that financial institutions can prevent, withstand, and recover from any type of disturbance or problem related to the use of information and communications technologies (ICT).

Improving third-party risk management

Since most financial institutions and companies depend on third parties (ICT service providers), which may include the management or storage of information in the cloud and data centers, the European Union seeks (through this law) that financial entities can manage (in a better way) the risks associated with said providers, to guarantee operational resilience in the online environment.

Improve security and oversight of critical third-party vendors

The DORA law aims to supervise information and communications technology service providers in order to ensure compliance with the security standards and regulations of the financial industry. In this way, the security of financial institutions can be improved, which will allow for greater confidence in the market, thanks to greater protection of data and financial transactions.

What do you think about this topic? Do you want to know more about the DORA Law?

If you are interested in Pilsenga products or services, you can contact us by visiting the following link.

The post Learn more about the European Union’s Digital Operational Resilience Act (DORA) first appeared on Pilsenga blog.

This is where electric power companies stand out since they are responsible for generating, transmitting, and distributing the electricity necessary for the development and functioning of modern society in general. Next, we will learn about the main electric power companies globally.

State Grid Corporation of China (SGCC)

State Grid Corporation of China (SGCC) is the world’s largest electric power company and is headquartered in Beijing. Founded in 2002, it is currently the largest electric power company in terms of revenue in the world. the world.

State Grid Corporation is a public utility responsible for the operation of most of China’s power grid, which is why it stands out for its significant investments in the generation, transmission, and distribution of electric power. It is worth noting that it is currently a company recognized for its important contributions to the global energy sector and for the expansion of its operations internationally (Philippines, Australia, Brazil, Italy, Portugal, Greece, and Chile).

Tokyo Electron Ltd. (TEL)

Tokyo Electron Ltd. (TEL) is considered one of the most important electric power companies globally, thanks to its contributions to the energy and electronics industries.

Tokyo Electron is a leading Japanese company specializing in the manufacture and sale of semiconductor production equipment and essential equipment for the manufacturing of integrated circuits, flat panel displays, and photovoltaic cells. The company currently operates in Taiwan, North America, South Korea, Europe, Southeast Asia and China.

NextEra Energy Inc.

NextEra Energy Inc. is one of the largest electric power companies in the United States. It specializes in the generation, transmission, distribution, and sale of electric power in 49 states of the United States and is currently committed to guaranteeing the energy independence of that country. NextEra Energy Inc. is considered one of the main electric power companies worldwide thanks to its important contribution to renewable energies, with significant investments in wind, solar, and other renewable energy sources.

Enel SpA

Enel SpA is an Italian multinational company specializing in the production and distribution of electricity and gas. Headquartered in Rome, Enel SpA was founded in 1962 and currently operates in more than 30 countries. It maintains a strong presence in the generation, transmission, distribution, and sale of electricity, standing out for its significant contribution to investment and research in renewable energies, such as wind, solar, and hydroelectric energy.

Schneider Electric SE

Schneider Electric SE is a French specialist and global leader in automation and energy management technologies. Founded in 1836, Schneider Electric SE today offers a wide range of products and services designed to optimize energy use and ensure the reliability of electrical infrastructure, as well as automation and control solutions for industrial processes.

Schneider Electric SE currently has operations in more than 100 countries and is considered one of the leading electric power companies thanks to its contribution and commitment to energy sustainability. Importantly, Schneider Electric SE has been recognized as the most sustainable company in the world by Corporate Knights.

Fortum Corp

Fortum Corp is a Finnish electric power company specializing in the generation, distribution and sale of electric power and heat. Fortum Corp was founded in 1998 and is headquartered in Espoo, Finland. Today, Fortum Corp is a leading renewable energy company with operations in Finland, Sweden, Norway, Poland, and Russia. Fortum Corp is considered one of the leading electric power companies, operating a wide variety of hydroelectric, nuclear, natural gas, wind, solar, and combined heat and power (CHP) plants.

Iberdrola S.A.

Iberdrola SA is a Spanish multinational electric utility company headquartered in Bilbao. It is one of the world’s leading electric power companies thanks to its production, distribution, and marketing of electric power and natural gas.

This company was founded in 1840, however, since 1992 it has focused on the search and investment in renewable energy and electricity distribution, which has led it to become the world’s leading company in renewable energy, standing out for significant investments in wind, solar, and hydroelectric energy.

Southern Company

Southern Company is an American energy company responsible for providing electricity and gas in the southeastern United States. Southern Company was founded in 1945 and is currently considered one of the main electric energy companies worldwide due to its broad level of operation and its commitment to sustainability and resilience, where it stands out for offering innovative solutions.

Electricity of France (EDF)

Electricité de France (EDF) is a French company specializing in the generation, transmission, distribution and sale of electric energy. It was founded in 1946 and is currently considered the largest producer of electric energy in France and one of the largest in Europe.

Electricité de France (EDF) is one of the leading electric power companies worldwide, known for its extensive global presence (United Kingdom, Italy, and Brazil) and its power plant operations, which include nuclear, hydroelectric, wind, and solar power plants.

Uniper SE

Uniper SE is a German multinational electric energy company, which was founded in 2016. As of 2022, it will become a 100% state-owned company. Uniper SE is a company specializing in the generation, transmission, distribution and sale of electric energy and natural gas in Germany and throughout Europe.
Uniper SE is one of the leading global electric power companies, with its headquarters in Düsseldorf (Germany), and operations in major electric power plants, providing energy services and solutions in Europe and the United States.

What do you think about this topic? Do you want to know more about Pilsenga’s financial services for energy companies?

If you are interested in Pilsenga’s products or services (including financial services for energy companies) you can contact us using the following link.

The post What are the top 10 electric power companies globally? first appeared on Pilsenga blog.

Tax Directives

The European Union’s tax directives were developed with the aim of creating a more integrated and fair tax environment. These directives govern corporate taxation, which includes rules on cross-border taxation and tax harmonization within the European Union.

Second Payment Services Directive (PSD2)

PSD2 promotes competition and innovation in the payments sector, facilitating the entry of new players (FinTech) and allowing interoperability between banks and payment services. Medium-sized companies that operate in e-commerce or use electronic payment systems may be affected by this regulation since, while they can take advantage of new opportunities, they must also adapt to new security standards, which may mean updating their security and compliance systems.

Market Abuse Regulation (MAR)

This regulation establishes clear rules to combat market abuse, insider trading, market manipulation, and incorrect or incomplete disclosure of relevant information.

For example, medium-sized companies listed on regulated EU markets are required to comply with strict disclosure requirements. This means that they must publish inside information as soon as possible to prevent its misuse.

Managers of medium-sized companies, as well as employees or professionals associated with them, must report any transaction they carry out with company securities (shares, bonds, etc.), especially if the said value exceeds a certain threshold. This measure seeks to prevent some managers or employees from taking advantage of their position to gain an advantage in the market with non-public information.

Anti-Money Laundering (AML) Directives

Anti-Money Laundering (AML) directives were developed with the aim of preventing financial crimes and protecting the integrity of the European financial system. This type of directive can affect medium-sized companies, especially those with limited capital, as it requires companies to make investments and implement measures to prevent money laundering and terrorist financing, which can significantly affect their financial operations, compliance procedures, and capital funds.

Corporate Sustainability Reporting Directive (CSRD)

Through the Corporate Sustainability Reporting Directive (CSRD), the European Union requires medium-sized companies to submit updated information on the environmental and social impact that their operations may have, which promotes transparency and accountability, in addition to allowing companies to be aligned with global sustainability objectives.

This type of directive can affect medium-sized companies, since to comply with sustainable business practices and improve the quality of sustainability reports, companies are forced to invest in preventive and corrective measures, such as staff training, and technology that allows their operations to be more sustainable, among others.

General Data Protection Regulation (GDPR)

Although not specifically a financial regulation, the GDPR has a direct impact on mid-sized businesses that manage personal data, including customer data in financial services, as it imposes strict obligations on how businesses collect, process, and store their users’ personal information. This forces mid-sized businesses to invest in technology and data management systems, as well as training their employees to comply with strict data protection regulations.

What do you think about this topic? Do you want to know more about Pilsenga’s financial services for medium-sized companies?

If you are interested in Pilsenga products or services, you can contact us by visiting the following link.

The post Financial rules and regulations that may affect medium-sized companies in the European Union first appeared on Pilsenga blog.