On 11 April 2025 the European Commission (“the Commission”) launched a public consultation on the review of Regulation (EU) 2019/881 on the European Union Agency for Cybersecurity (ENISA) and on information and communications technology cybersecurity certification (Cybersecurity Act). The consultation forms part of the Commission’s simplification agenda, which is a key
European Commission consults on a Cloud and AI Development Act
On 9 April 2025 the European Commission (the Commission) launched a public consultation on the proposal for a Cloud and AI Development Act. The initiative forms part of the Commission’s AI Continent Action Plan that was published the same day. In the accompanying Call for Evidence, the Commission sets out background to its proposed
ESMA consults on clearing thresholds under EMIR 3
On 8 April 2025, the European Securities and Markets Authority (ESMA) issued a consultation paper setting out draft regulatory technical standards (RTS) amending the RTS on the clearing thresholds under the European Markets Infrastructure Regulation (EMIR).
Background
Regulation (EU) 2024/2987 amended EMIR and in particular modified the clearing thresholds
New briefing note – From Open Banking to Open Finance: FiDA
We have published a new online briefing note which discusses the draft Financial Data Access Regulation.
Our briefing note is here.
Official translations of guidelines on templates to assist NCAs in performing their supervisory duties regarding issuers’ compliance under MiCA
On 26 March 2025, the European Banking Authority (EBA) published the official translations of the guidelines on templates to assist Member State competent authorities (NCAs) in performing their supervisory duties regarding issuers’ compliance under the Markets in Crypto-Assets Regulation (MiCA). The guidelines apply from 26 May 2025. NCAs must
New Split the Difference podcast: Reforms to commodity derivatives regulation
In the latest episode of our podcast series, Split the Difference, Hannah Meakin, Floortje Nagelkerke, Anna Carrier, Lucy Dodson and Anita Edwards discuss upcoming and potential reforms to the commodity derivatives regulatory framework in the UK and EU.
Listen to the episode here.
MiCA Delegated Regulations and Implementing Regulation published in OJ
- Commission Delegated Regulation (EU) 2025/300 of 10 October 2024 supplementing MiCA with regard to regulatory technical standards (RTS) on information to be exchanged between competent authorities.
EBA updates methodology on the regulatory and supervisory equivalence of non-EU countries
On 24 March 2025, the European Banking Authority (EBA) announced that it had updated its methodology for the assessment of regulatory and supervisory frameworks of non-EU countries. The updates have been made to reflect changes to the Capital Requirements Regulation and Capital Requirements Directive. The EBA’s methodology is based on two questionnaires with
Published in OJ – MiCA Delegated Regulations on adjustment of own funds requirement, data and remuneration
- Commission Delegated Regulation (EU) 2025/415 of 13 December 2024 supplementing MiCA with regard to regulatory technical standards (RTS) specifying adjustment of own
Official translations – Guidelines on the conditions and criteria for the qualification of crypto-assets as financial instruments under MiCA
On 19 March 2025, there was published on the European Securities and Markets Authority’s (ESMA) website the official translations of the guidelines on the conditions and criteria for the qualification of crypto-assets as financial instruments. The guidelines specify the conditions and criteria for determining whether a crypto-asset should qualify as a financial instrument