On 8 November 2019, the Council of the EU announced that it had adopted a set of legislative reforms which are part of the progress towards forming the Capital Markets Union, including:

  • the creation of a new category of benchmarks contributing to sustainable finance;
  • transparency obligations for sustainable investments;
  • a new prudential framework for investment firms;
  • a harmonised framework for covered bonds; and
  • rules promoting access to SME growth markets.

All the texts will be signed in Strasbourg in the week of 25 November 2019 and will then be published in the Official Journal (OJ) of the European Union.