On December 23, 2019, the European Commission’s (EC) Implementing Decision, which grants temporary equivalence to UK central counterparties (CCPs), was published in the Official Journal of the European Union (EU). This means that the Implementing Decision became law on December 24, 2019.


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On December 17, 2019, the European Commission published the text of the proposed “regulation on the establishment of a framework to facilitate sustainable investment,” which is also known as the “Taxonomy Regulation.” This forms part of the EU’s sustainable finance reforms. More information is available in the May 10 edition of Corporate & Financial Weekly Digest and December 13 edition of Corporate & Financial Weekly Digest.

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On January 10, the changes introduced by the European Union’s fifth Money Laundering Directive (MLD5) became operational. MLD5 came into force on July 9, 2018, but member states had until January 10 to transpose these changes into national law. MLD5 amends and builds on the fourth Money Laundering Directive (MLD4).  More information is available in the February 12, 2016 edition of Corporate & Financial Weekly Digest.

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On December 5, Valdis Dombrovskis made a speech at the conclusion of the first Economic and Financial Affairs Council (ECOFIN) meeting of the new European Commission (EC). Mr. Dombrovskis is the European Commissioner for “an Economy that Works for People”, and is one of the three newly-appointed Executive Vice Presidents of the EC.

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