Insights Blog

It’s an important week from an EU financial services perspective, with the last European Parliament plenary session before the European elections in June 2024.

Key legislative packages are due for final endorsement by the European Parliament this week, following which they will need final endorsement from the EU Council prior to publication in the Official Journal.

Votes on Committee reports on other key proposals are also due to take place this week.  Discussions and trilogue negotiations with the EU Council on these proposals will post-date the European elections:

  • The proposed Bank Crisis Management and Deposit Insurance Package. Read our insights here: Bank Resolution: Commission CMDI proposal published.
  • The proposed Retail Investment Package. Read our insights here: Retail Investors and the EU Capital Markets: Commission publishes retail investment package.
  • Proposed changes to the EU Benchmarks Regulation. The proposal involves limiting registration and authorisation requirements, and most of the Regulation’s substantive requirements, to critical benchmarks, significant benchmarks, EU climate transition benchmarks, EU Paris-aligned benchmarks and certain commodity benchmarks.
  • The proposed new Payment Services Regulation and related Directive, which focus on mitigating payment fraud (reflecting a growing focus on authorised push payment fraud), further levelling the playing field between banks and non-banks, and improving the functioning of open banking.