On Tuesday 17 September, Commission Present-elect Ursula von der Leyen published her long-awaited list of European Commissioner-designates and the allocation of their portfolios. The presentation of the Commissioner-designates and their responsibilities is a key step in the transition to the 2024-2029 legislative term. The process for selecting candidate Commissioners has been complex so far, as
EU policy, regulatory and legislative updates
Dealing with whistleblowing investigations in light of increased media and regulatory scrutiny
Introduction
Whistleblowing is on the rise – both within organisations and to authorities. An increase in whistleblowing is positive: it shows employees feel able to speak up, allows issues to be escalated, investigated and where necessary remediated. However, the increase in whistleblowing also presents challenges for companies to ensure that they are dealing effectively and…
European Parliament elections: outcome and next steps
The European Parliament elections took place between 6 and 9 June 2024. While the results are still coming in, the provisional data indicates that even though the traditional parties have retained their majority in the hemicycle, the more radical groupings on the right have gained more ground. This is in line with opinion polling carried…
Delivering a ‘true’ CMU will not happen as a single event
On 15 May 2024, the Eurogroup issued a statement on the follow-up to the Eurogroup agreement on the future of the Capital Markets Union (CMU).
In March 2024, the Eurogroup agreed on a statement of the future of the CMU and today’s statement marks the first step towards its delivery. The endorsement by…
European Parliament adopts large number of financial services proposals
From 22 to 25 April 2024, the European Parliament (Parliament) held is final plenary sessions before the Parliament elections taking place on 6-9 June 2024. During this session, the Parliament plenary adopted a large number of important financial services-related legislative proposals. This note provides an overview of these proposals, their main contents, as…
European co-legislators reach agreement on REMIT review
On 16 November 2023, the European Commission, the European Parliament and the Council reached a provisional political agreement on the review of the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT). We discussed the scope of the review in our earlier blog. In accordance with an official statement, the co-legislators…
ESRB’s first general warning one year on
On 16 November 2023, the European Central Bank (ECB) published the welcome remarks by Christine Lagarde, President of the ECB and Chair of the European Systemic Risk Board (ESRB), at the seventh annual conference of the ESRB. The remarks are entitled The ESRB’s first general warning one year on.
Just…
Commission consults on DORA draft delegated act – CTPP criteria and fees
On 16 November 2023, the European Commission published a consultation on a draft delegated act under Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA). The draft delegated act concerns the amount of the oversight fees to be charged to critical ICT third-party service providers (CTPPs) and the…
European Parliament ECON Committee debate on Retail Investment package draft report
On 24 October 2023, the European Parliament Economic and Monetary Affairs (ECON) Committee held a debate on the draft report on the Retail Investment package. The draft report was published by rapporteur Stephanie Yon-Courtin (Renew, FR)on 5 October 2023 and contains her proposed amendments to the European Commission’s (Commission)…