The European Commission (Commission) has published its work programme for 2025. The work programme consists of a communication discussing the Commission’s main plans and priorities and is accompanied by an Annex listing new initiatives and their expected timings, as well as initiatives the Commission intends to withdraw.

The communication emphasises that the Commission intends to publish number of legislative packages that would simplify regulation for businesses, which is in line with its goal to reduce administrative burdens for enterprises by at least 25 percent. The first Omnibus proposal on simplification is expected on 26 February 2025 and will address the Taxonomy Regulation, the Corporate Sustainability Reporting Directive and the Corporate Sustainability Due Diligence Directive. The Commission will also propose the introduction of a new category of small mid-cap enterprises with tailored requirements. To ensure that the simplification agenda is effective, the Commission states that it will hold regular implementation dialogues with stakeholders and practitioners.

The Commission’s Savings and Investment Union (SIU) initiative, which will be published on 19 March 2025, is part of a package to enhance the competitiveness of the EU. The main aims of the SIU, which will take the form of an action plan for future legislative and non-legislative actions, are to create a more integrated EU capital market and to channel more private savings to the capital markets. This would provide for better funding opportunities for EU businesses. In connection to these goals, the Commission will work on an EU Start-up and Scale-up strategy, which would also address access to finance.

As mentioned, the Annex to the work programme provide an overview of the concrete new initiatives the Commission intends to publish over 2025, and the existing legislative proposals it intends to withdraw. The following new initiatives are related to financial services:

  • Q1 2025
    • First Omnibus simplification package (expected 26 February).
    • Action Plan on affordable energy (expected 26 February).
    • Communication on Savings and Investment Union (expected 19 March).
    • Second Omnibus package on investment simplification.
  • Q2 2025
    • EU Start-up and Scale-up Strategy.
    • Review of the Securitisation Framework.
  • Q4 2025
    • Review of the Sustainable Finance Disclosure Regulation.
    • Evaluation of state aid rules for banks in difficulties.