On March 10, the European Parliament adopted a legislative initiative report detailing recommendations for a new directive on corporate due diligence and corporate accountability for holding companies accountable for harm caused to human rights, the environment and good governance (the Report).
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European Parliament
ECON Publishes Draft Report on Proposed Regulation on Markets in Cryptoassets
Posted in EU Developments, Financial Markets
On March 9, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published a draft report detailing recommendations to the European Commission on the proposed Regulation on markets in cryptoassets and amending Directive (EU) 2019/1937 (the Draft Report).
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ESMA Publishes Consultation Paper on Impact of Algorithmic Trading
Posted in EU Developments, Financial Markets
On December 18, 2020, the European Securities and Markets Authority (ESMA) published a consultation paper to assist the European Commission (Commission) in reviewing and producing a report on the impact of requirements relating to algorithmic trading, including high-frequency trading.
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European Commission Consults on Review of CSDR
Posted in EU Developments, Financial Markets
On December 8, the European Commission (the Commission) published a consultation paper on its review of the Central Securities Depositories Regulation (909/2014) (CSDR) (the Consultation Paper).
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European Parliament Adopts Resolution on Digital Finance and Data Sharing
Posted in EU Developments, Financial Markets
On October 8, the European Parliament published a press release announcing that it had adopted a resolution regarding the creation of a robust EU framework for crypto-assets, cyber resilience, data sharing and customer safety (the Press Release).
The basis of the resolution originates from a previous report that the Economic and Monetary Affairs Committee (ECON) had voted to adopt in September 2020.
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ECON Announces Implementation of Draft Report on Digital Finance and FinTech
Posted in EU Developments, Financial Markets
On September 11, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published a press release announcing the adoption of its draft report on Digital Finance.
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COVID-19: European Commission Adopts Proposal to Amend Prospectus Regulation
Posted in EU Developments, Financial Markets
On July 24, the European Commission (the Commission) adopted a legislative proposal to amend the Prospectus Regulation and assist with the recapitalization of companies that have been affected by the COVID-19 pandemic (the Proposal).
The key changes under the Proposal are:
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European Commission Adopts EMIR 2.2 Provisional Delegated Acts
Posted in EU Developments, Financial Markets
On July 14, the European Commission (the Commission) adopted several implementing and delegated acts relating to central counterparties (CCPs) established in third countries (TCs) under the so-called “EMIR 2.2” revisions to the European Market Infrastructure Regulation (the Delegated Acts).
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ESG: EU Council Adopts Taxonomy Regulation
Posted in EU Developments, Financial Markets
On April 16, the Council of the EU (the Council) published a press release regarding a unified EU classification system to encourage private investment in sustainable growth and contribute to a climate-neutral economy (the Press Release).
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ESMA Publishes a Review Report on Position Limits and Management under MiFID II
Posted in EU Developments, Financial Markets
On April 1, and following a recent consultation, the European Securities Markets Authority (ESMA) published a review report on position limits under MiFID II (the Review Report) and a report on technical advice on weekly position reporting (the Technical Advice Report).
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