On 13 July 2011, the European Commission presented its proposals for the third reform of the EU Common Fisheries Policy. These included the implementation of discard bans, explicit reference to Maximum Sustainable Yield as a management objective, more incentives given to strengthen the regionalisation of management, an increased focus on social sustainability, and the promotion of Transferable Fisheries Concessions (TFC). The fourth Common Fisheries Policy is being implemented during the course of 2014