Regulation and compliance

On 7 May 2025, the European Commission (Commission) adopted a Commission Delegated Regulation (EU) amending Commission Delegated Regulation (EU) 2022/803 as regards rules of procedure for the exercise of the power to impose fines or periodic penalty payments by the European Securities Markets Authority (ESMA) with respect to consolidated tape providers…

On 7 May 2025, the European Securities and Markets Authority (ESMA) issued its Final Report containing technical advice to the European Commission (Commission) on a range of topics related to the legislative changes brought by the Listing Act in respect of the Market Abuse Regulation (MAR) and the part…

On 6 May 2025, the European Securities and Markets Authority (ESMA) published its response to the European Commission’s (Commission) targeted consultation document on the functioning of commodity derivative markets.

Background

On 26 February 2025, the Commission published a targeted consultation document on the functioning of commodity derivatives markets. The consultation document…

Background

The creation of this dedicated channel was announced in the Savings and Investments Union (SIU) Communication adopted on 19 March 2025.

Next steps

The Commission will regularly monitor the feedback, which it will use in its ongoing efforts to tackle existing obstacles to financial market integration and free movement of capital, with…

On 23 April 2025, the Financial Stability Board (FSB) published a letter from its chair, Klaas Knot, to G20 Finance Ministers and Central Bank Governors ahead of their meeting on 23-24 April.

In the letter Mr Knot reflects on the progress made in addressing global challenges to financial stability and outlines priorities for…

On 15 April 2025, the European Commission (Commission) launched a targeted consultation on the integration of European Union (EU) capital markets. The aim of the consultation is to collect feedback on obstacles to financial market integration across the EU and it is part of the Savings and Investments Union (SIU…

On 10 April 2025, the European Securities and Markets Authority (ESMA) published a Final Report on the technical standards specifying the criteria for establishing and assessing the effectiveness of investment firms’ order execution policies.

Background

Directive (EU) 2024/790 which amended the Markets in Financial Instruments Directive II (MiFID II ) was published…

On 10 April 2025, the European Securities and Markets Authority (ESMA) published a Final Report on systematic internaliser (SI) notification, the volume cap and transparency calculations and circuit breakers.

Background

Directive (EU) 2024/790 and Regulation (EU) 2024/791 amended both the Markets in Financial Instruments Directive II (MiFID II) and…

On 9 April 2025, the European Securities and Markets Authority (ESMA) published a letter from its chair to Maria Luís Albuquerque (Commissioner for Financial Services and the Savings and Investments Union, DG FISMA) regarding the qualification of fractional shares under the Markets in Financial Instruments Directive II (MiFID II).

ESMA is…