On February 15, the Council of the European Union (the Council) published a press release announcing the adoption of a “quick fix” amendment to the revised Markets in Financial Instruments Directive (MiFID II) in response to the economic impact caused by the COVID-19 pandemic (the Amendment).
The key changes to MiFID II in the Amendment include:…
Continue Reading MiFID II “Quick Fix” Adopted in Response to COVID-19
On February 17, the European Commission (the Commission) published two Delegated Regulations amending the European Market Infrastructure Regulation (EMIR) Margin Regulatory Technical Standards (RTS) and the Clearing Obligation RTS (the Delegated Regulations).
The key amendments proposed by the Commission in the Margin RTS include:…
Continue Reading European Commission Publishes Delegated Regulations Under EMIR on Risk Mitigation and Clearing Obligation
On October 30, the European Commission (the Commission) published a letter from John Berrigan (the Commission’s Director General for Financial Stability, Financial Services and Capital Markets Union) to the European Securities and Markets Authority, European Insurance and Occupational Pensions Authority, and the European Banking Authority (jointly the European Supervisory Authorities (ESAs)) regarding a delay to the implementation of detailed subordinate rules under the Sustainable Finance Disclosure Regulation (SFDR or Disclosure Regulation) caused by the COVID-19 pandemic (the Letter). …
Continue Reading ESG: European Commission Extends Consultation Period for Rules Under Disclosure Regulation
On July 30, the European Securities and Markets Authority (ESMA) published its decision in the Official Journal of the EU to extend the reporting requirement for holders of 0.1 percent net short positions in EU shares until September 17, 2020 (the Decision).
Continue Reading ESMA Confirms Extension of 0.1 Percent Net Short Position Reporting in EU Shares Until September 17
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).
Continue Reading European Commission Adopts EMIR 2.2 Provisional Delegated Acts
On June 22, the Taxonomy Regulation was published in the Official Journal of the European Union and it will go into effect on July 12, 2020.
Continue Reading Taxonomy Regulation Published in the Official Journal of the EU
On June 2, the European Parliament’s Economic and Monetary Affairs Committee (ECON) and its Environment, Public Health and Food Safety Committee (ENVI) published a recommendation for second reading of the proposed Taxonomy Regulation on the establishment of a framework to facilitate sustainable investment (the Recommendation). …
Continue Reading ESG: ECON and ENVI Publish Recommendation for Second Reading of Taxonomy Regulation
On May 7, the European Commission (the Commission) adopted a new Delegated Regulation to amend the list of high-risk third countries with strategic anti-money laundering (AML) and counter-terrorist financing (CTF) deficiencies under the Fourth Money Laundering Directive (the Delegated Regulation).
The Delegated Regulation will:…
Continue Reading AML: European Commission Adopts a New Delegated Regulation in Relation to the Fourth Money Laundering Directive
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).
Continue Reading ESG: EU Council Adopts Taxonomy Regulation
On December 12, amendments to the European Market Infrastructure Regulations (EMIR), known as “EMIR 2.2”, were published in the Official Journal of the European Union, which is available here. This means that, as expected, the provisions of EMIR 2.2 will go into effect on January 1, 2020. EMIR 2.2 is different from EMIR…
