National Regulatory Background for Financial Instruments established from the 2014-2020 European Structural and Investment Funds – First Experiences in Hungary journal article Márk Bató European Structural and Investment Funds Journal, Volume 4 (2016), Issue 4, Page 214 - 218 This article is a follow-up to the publication presented in EStIF 3/2015 about the same issue. In that article the National Regulatory Background for Financial Instruments established from the 2014-2020 European Structural and Investment Funds was analysed in the context of Hungary. That study concluded that the first attempts at implementation would bring confirmation to that set of rules and/or would point at the necessary amendments and modifications. At the request of the Editor the following article gives an overview of the relevant experiences and the related amendment in the national regulatory background. The previous article divided the areas covered by the national regulation into three groups: project selection, implementation, control and feedback. From each of these three groups the direction of the national regulation was described. The content of the national data bank of financial instruments (FIs) was also presented in line with the information need of cohesion policy priority tasks, such as regularity, absorption and efficiency. Since the closing date of the initial article significant progress has occurred in the selection of bodies implementing FIs. Some development in relation to the preparation of FIs combined with grants has also happened. The possibility to make objections was extended to the final recipients. And finally, the electronic information system – originally developed for grants – has started to be adjusted to the requirements of these specific instruments. The developments have touched upon all groups of the regulatory areas: selection (selection of bodies implementing FIs), implementation (electronic information system with special regard to financial management and combined support), monitoring and feedback (objection).
National Regulatory Background for Financial Instruments established from the 2014-2020 European Structural and Investment Funds journal article Márk Bató European Structural and Investment Funds Journal, Volume 3 (2015), Issue 3, Page 187 - 193 The article presents an example of national regulation that completes the EU level regulation in case of financial instruments (FI) financed by the European Structural and Investment Funds in the 2014-2020 programming period. Hungary has already used financial (engineering) instruments in the 2007-2013 programming period, therefore the current regulation is not a brand new tool, but an updated version of the former one, building on the experiences. The set-up of the national FI programmes will be briefly presented in order to acquaint the reader with the instruments for which this regulatory framework was prepared. Finally, a data bank will be provided with the set of information required on Member State level for the efficient implementation of these FIs.
The Audit Authority’s Role within the Single Audit Concept as Governance Principle in the EU’s Cohesion Policy Marcel Bode
