- The Markets in Financial
European Parliament publishes draft report on Retail Investment Strategy
European Commission prepares BMR review
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
Council commences discussions on digital euro proposal
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
ESAs consult on first part of DORA RTS & ITS
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
ESAs consult on DORA criticality criteria
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
ECON amendments to the revised EU AML/CFT legislation: stricter rules for crypto-asset service providers
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
European Commission proposes amendments to REMIT
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
European Parliament adopts negotiating position on MiFIR review
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
European Parliament adopts negotiating position on CRR III and CRD VI proposals
- A Commission proposal for a Regulation amending the Capital Requirements Regulation (CRR) as regards
European Commission consults with Member States’ experts prospective implementation of Basel rules on crypto-asset exposures
On 16 February 2023, the European Commission (“the Commission”) hosted a meeting of the Expert Group on Banking, Payments and Insurance (EGBPI), where it discussed with Member States’ experts the potential way forward for the implementation in the European Union (EU) law of the December 2022 Basel Committee on Banking Supervision (BCBS) standards on prudential