On 22 January 2019, the House of Commons’ European Scrutiny Committee published its fifty-first report of session 2017-2019. The report addresses progress on a number of EU legislative developments. Within the report, at chapter 7, the Committee addresses progress on the Omnibus Regulation, which forms part of the proposed reforms to the European System of Financial Supervision and the proposed Regulation amending the Benchmarks Regulation on low carbon benchmarks and positive carbon impact benchmarks.

At chapter 5, the Committee considers financial services regulations for debate, specifically:

  • Proposal for a Regulation on the European Supervisory Authorities;
  • Proposal for a Directive amending Directive 2014/65/EU on markets in financial instruments (MiFID II) and Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance;
  • Amendment of the proposal for a Regulation as regards the authorisation of central counterparties; and
  • Amended proposal for a Regulation amending Regulation 1093/2013 establishing the European Banking Authority and Directive 2015/849 on the prevention of the use of the financial system for the purposes of money-laundering or terrorist financing.