Changes

The application was issued a [[GAC]] Early Warning from the representative of Australia and GAC Chair, [[Heather Dryden]]. The warning system is noted as a strong recommendation on behalf of national governments to the [[ICANN Board]] that a given TLD application should be denied as it stands. Applicants are encouraged to work with objecting GAC members.<ref>[http://newgtlds.icann.org/en/applicants/gac-early-warning GAC Early Warning, NewgTLDS.ICANN.org] Retrieved 25 Nov 2012</ref> The warning notes that the TLD refers to a regulated market but that the applicant has not provided for adequate measures to protect from consumer harm.<ref>[https://gacweb.icann.org/download/attachments/22938690/Financial-AU-71764.pdf?version=1&modificationDate=1353387871000 Financial AU, GACweb.ICANN.org]</ref>

The application was issued a [[GAC]] Early Warning from the representative of Australia and GAC Chair, [[Heather Dryden]]. The warning system is noted as a strong recommendation on behalf of national governments to the [[ICANN Board]] that a given TLD application should be denied as it stands. Applicants are encouraged to work with objecting GAC members.<ref>[http://newgtlds.icann.org/en/applicants/gac-early-warning GAC Early Warning, NewgTLDS.ICANN.org] Retrieved 25 Nov 2012</ref> The warning notes that the TLD refers to a regulated market but that the applicant has not provided for adequate measures to protect from consumer harm.<ref>[https://gacweb.icann.org/download/attachments/22938690/Financial-AU-71764.pdf?version=1&modificationDate=1353387871000 Financial AU, GACweb.ICANN.org]</ref>

===European Commission Objection===

===European Commission Communiqué===

The [[European Commission]] objected to the application for .financial outside of ICANN's defined remediation processes.

The [[European Commission]] flagged the application for .financial outside of ICANN's defined remediation processes.

Just after [[ICANN]]'s [[GAC]] issued its Early Warnings, which are advice given from one GAC member country to an applicant warning it of potential issues within its application, the [[European Commission]] issued a letter to all applicants within the [[New gTLD Program|new gTLD program]]. The letter highlights 58 applications that "could raise issues of compatibility with the existing legislation .. and/or with policy positions and objectives of the European Union." It notes a desire to open a dialogue with each offending applicant.

Just after [[ICANN]]'s [[GAC]] issued its Early Warnings, which are advice given from one GAC member country to an applicant warning it of potential issues within its application, the [[European Commission]] issued a letter to all applicants within the [[New gTLD Program|new gTLD program]]. The letter highlights 58 applications that "could raise issues of compatibility with the existing legislation .. and/or with policy positions and objectives of the European Union." It notes a desire to open a dialogue with each offending applicant.

The Commission specifically notes that this objection is not a part of the GAC Early Warning process, and goes on to note that "the Commission does not consider itself legally bound to [ICANN] processes," given that there is not legal agreement between the two bodies.<ref>[http://domainincite.com/docs/20121127093808906.pdf DomainIncite.com/Docs] Published 27 Nov 2012, Retrieved 11 Dec 2012</ref><ref>[http://domainincite.com/11130-europe-rejects-icanns-authority-as-it-warns-of-problems-with-58-new-gtlds Europe Rejects ICANNs Authority As it Warns of Problems with 58 New gTLDs, DomainIncite.com] Published 27 Nov 2012, Retrieved 11 Dec 2012</ref>

The Commission specifically notes that this objection is not a part of the GAC Early Warning process, and goes on to note that "the Commission does not consider itself legally bound to [ICANN] processes," given that there is not legal agreement between the two bodies.<ref>[http://domainincite.com/docs/20121127093808906.pdf DomainIncite.com/Docs] Published 27 Nov 2012, Retrieved 11 Dec 2012</ref><ref>[http://domainincite.com/11130-europe-rejects-icanns-authority-as-it-warns-of-problems-with-58-new-gtlds Europe Rejects ICANNs Authority As it Warns of Problems with 58 New gTLDs, DomainIncite.com] Published 27 Nov 2012, Retrieved 11 Dec 2012</ref>

==References==

==References==

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