EU policy, regulatory and legislative updates

On 11 October 2023, the European Securities and Markets Authority (ESMA) published two articles on decentralised finance (DeFi), one on developments and risks in the EU market and another on a methodology for the categorisation of smart contracts. In these articles, ESMA highlighted risks to consumers, new forms of market

On 5 October 2023, European Parliament rapporteur Stéphanie Yon-Courtin (Renew, FR) published her two draft reports concerning the Retail Investment Strategy (RIS) package. The first draft report  contains the rapporteur’s proposed amendments to the European Commission’s proposal, which contained proposed amendments to the following pieces of EU legislation:

  • The Markets in Financial

On 21 September 2023, the European Commission (Commission) hosted a meeting of the Expert Group of the European Securities Committee (EGESC) where it discussed the upcoming review of the European Benchmarks Regulation (BMR). By way of background, the Commission issued earlier this year a Call for Evidence, consulting

On 25 September 2023, the Council of the European Union (Council) Working Group on Financial Services held a discussion on the European Commission (Commission) proposal on the establishment of a digital euro.

Since 2021, the Commission and the European Central Bank (ECB) have been preparing the establishment of the

On 20 September 2023, the European Parliament Economic and Monetary Affairs (ECON) Committee held its first exchange of views on the European Commission’s (Commission) crisis management and deposit insurance (CMDI) legislative package. The legislative package contains amending proposals to the EU regime for the recovery and resolution of credit

On 19 June 2023 the European Supervisory Authorities (ESAs) launched a public consultation on a first batch of regulatory and implementing technical standards (RTS and ITS) under Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA). This covers the draft RTS and ITS that the ESAs

On 26 May 2023, the European Supervisory Authorities (ESAs) published a joint Discussion Paper on criteria for critical ICT third-party service providers and oversight fees. This Discussion Paper follows the request for technical advice that was sent by the European Commission (Commission) to the ESAs in late December 2022.

The ESAs

On Tuesday, 28 March 2023, the European Parliament’s Economic and Monetary Affairs Committee (ECON) adopted its position on the proposed anti-money laundering and counter-terrorism financing legislative package that was published by the European Commission (Commission) in July 2021. In our earlier blog post, we provided a general overview of the measures adopted where we

On 14 March 2023, the European Commission (“the Commission”) published a package of legislative proposals that will reform European electricity markets and strengthen European wholesale energy markets’ protection against market manipulation. In addition to amendments to Regulation (EU) 2019/943 (the Electricity Regulation) and Directive (EU) 2019/944 (the Electricity Directive) which set the framework for Europe’s

On 1 March 2023, the European Parliament Economic and Monetary Affairs (ECON) Committee adopted its negotiating position on the review of the Markets in Financial Instruments Regulation (MiFIR).

The following aspects of the ECON Committee negotiating position have been contentious points through the negotiation and have been amended in comparison to