Our quarterly overview of important legislative and regulatory developments in the European Union.
Political events continue to dominate the financial landscape in the EU. And so does Brexit.
June election results from the United Kingdom and France could not have been more different. While Emmanuel Macron won the French Presidency and secured a strong parliamentary majority, political uncertainty in the UK only increased following their latest election.
We’ve also seen other significant developments on the regulatory front. To name a few: the European Market Infrastructure Regulation (EMIR) review was launched. And work continues on the Risk Reduction Measures (RRM). In addition, the European Commission published their proposals on a Pan-European Pension Plan (PEPP) and MiFID II/Markets in Financial Instrument Regulation (MiFIR) Level 2 measures. In the UK, the Financial Conduct Authority (FCA) engaged in consultations on FinTech and the regulatory approach towards it.