- Scope: the rules apply to all financial firms,
- Application: the rules cover
MEPs approve simplified sustainability reporting and due diligence rules for businesses
On 16 December 2025, the European Parliament issued a press release stating that it had approved a provisional agreement between MEPs and the Council of the EU on the European Commission’s proposed Omnibus Directive reducing the scope of the Corporate Sustainability Reporting Directive and the Corporate Sustainability Due Diligence Directive.
The press release adds that
ESMA public statement – Transitional provisions under the BMR review
- Pending applications by third country administrators of benchmarks: ESMA states that benchmarks in scope of the BMR provided by administrators that applied
Council and Parliament strike a deal to simplify sustainability reporting and due diligence requirements
On 9 December 2025, the European Parliament and the Council of the EU reached a provisional deal on the draft Omnibus Directive simplifying sustainability reporting and due diligence requirements for companies. The informal agreement simplifies the directives on corporate sustainability reporting and corporate sustainability due diligence by reducing the reporting burden and limiting the trickle-down
EBA follow-up peer review report on authorisations under the PSD2
On 5 December 2025, the European Banking Authority (EBA) published a follow-up peer review report on authorisations under the revised Payment Services Directive (PSD2).
Background
The report follows-up on the EBA’s 2023 peer review report on the authorisation of payment institutions and electronic money institutions under the PSD2. It also discusses
ESMA statement on MiCA transitional measures
On 4 December 2025, the European Securities and Markets Authority (ESMA) issued a statement on the Markets in Crypto Assets Regulation (MiCA) and its transitional regime for crypto asset service providers (CASPs) that offered their services in accordance with applicable law prior to 30 December 2024.
The statement recalls
Regulation Around the World – Issue 16: Basel 3.1 implementation
In this latest issue of Regulation Around the World we look at how regulators have implemented the Basel 3.1 reforms, asking eight key questions in the following jurisdictions: United Kingdom, United States, EU, Luxembourg, France, Italy, Turkey, Netherlands, Australia, South Africa and the UAE. For European jurisdictions we add one further topical question outside of
ESAs publish list of designated CTPPs
On 18 November 2025, the European Supervisory Authorities published the list of designated critical ICT third-party providers (CTPPs) under the Digital Operational Resilience Act (DORA). The designation process followed the methodology mandated by DORA. The designated CTPPs provide a range of ICT services to financial entities of all types and sizes
ESMA peer review on the supervision of depositary obligations
On 17 November 2025, the European Securities and Markets Authority (ESMA) issued a peer review report on the supervision of depositary obligations.
Peer review
The report sets out ESMA’s findings following a peer review on the supervision of depositary obligations, under two supervisory expectations, oversight and safekeeping. For oversight there were two
Open Finance in focus: From Open Banking to Open Finance across the UK, EU, Australia, and the US
Join us at our next webinar examining how jurisdictions are progressing from Open Banking to Open Finance, including updates on the Open Finance regimes in the UK, EU, Australia, and the US.
Our Global Financial Services Regulation team will be joined by Simone Plances, a Smart Data Accelerator Manager from the Financial Conduct Authority who