On 23 June 2025, the European Securities and Markets Authority (ESMA) published a Call for Evidence on the simplification of financial transaction reporting. The Call for Evidence comes as part of a mandate provided to ESMA to assess the feasibility of more integration in transaction reporting and the streamlining of data flows
ESMA launches selection of CTPs for shares and ETFs
On 20 June 2025, the European Securities and Markets Authority (ESMA) launched the selection procedure for the Consolidated Tape Provider (CTP) for shares and exchange-traded funds (ETFs).
Background
The 2024 review of the Markets in Financial Instruments Regulation (MiFIR) laid down a framework for the establishment of
AIFMD 2: Quick guide to Member State activity
AIFMD 2: Quick guide to Member State activity
On 26 March 2024, the final legislative text of the Alternative Investment Fund Managers Directive 2 (AIFMD 2) was published in the Official Journal of the EU. The publication marked the conclusion of the AIFMD Review process that formally began in 2020. AIFMD 2 amends
CRD VI: Quick guide to Member State activity
CRD VI: Quick guide to Member State activity
On 27 October 2021, the European Commission adopted a Banking Package which set out proposed amendments to EU banking rules contained in the Capital Requirements Regulation and the Capital Requirements Directive IV. The main purpose of the amendments was to implement the outstanding elements of the Basel
European Commission publishes securitisation review package
On 17 June 2025, the European Commission (Commission) published a legislative package on the review of the securitisation framework in the EU.
Background
The current EU securitisation framework consists of the Securitisation Regulation, which sets out a general framework for all securitisations in the EU and a specific framework for simple, transparent
Commission consults on the integration of EU capital markets
On 15 April 2025, the European Commission (Commission) launched a targeted consultation on the integration of European Union (EU) capital markets. The aim of the consultation is to collect feedback on obstacles to financial market integration across the EU and it is part of the Savings and Investments Union (SIU
What’s in store for the EU in 2025 – European Commission publishes work programme
The European Commission (Commission) has published its work programme for 2025. The work programme consists of a communication discussing the Commission’s main plans and priorities and is accompanied by an Annex listing new initiatives and their expected timings, as well as initiatives the Commission intends to withdraw.
The communication emphasises that the
European Commission publishes Competitiveness Compass
The European Commission (Commission) has published its Competitiveness Compass (Compass). The Compass is a policy document that describes the overall Commission policy on increasing the EU’s competitiveness over the coming five-year term. The Compass comes as a response to the reports published by Enrico Letta and Mario Draghi, which both warned
EU: what to expect in financial services in 2025
Introduction
2025 will mark a fresh start in the EU as the new European Commission (Commission), which has been in place since 1 December 2024, will begin its work. Although the new Commission’s work programme for 2025 will not be published until 11 February 2025, there are a number of new initiatives within
New European Commission takes office: financial services aspects
Introduction
Following a process that took nearly six months and started with the June 2024 European Parliament elections, the new European Commission (Commission) started its five-year term on 1 December 2024. The EU institutions have spent the previous month selecting, vetting, hearing, and voting on the new College of Commissioners, which consists of