The Commission has published a list of its planned initiatives for 2016. Financial services initiatives include:

  • work under the revised Markets in Financial Instruments Directive (MiFID 2) regime, in particular publication of the MiFID 2 and Markets in Financial Instruments Regulation (MiFIR) Delegated Regulations on organisational requirements and operating conditions for investment firms and defined terms, and on definitions, transparency, derivatives and supervisory measures on product intervention and positions due during March, together with adoption of all the Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) under the MiFID 2 package;
  • a Delegated Regulation on product intervention in relation to Packaged Retail and Insurance-based Investment Products (PRIIPs), due with the MiFIR Delegated Regulation;
  • a proposal for a Regulation on recovery and resolution of central counterparties (CCPs), due in the third quarter of 2016;
  • delegated legislation on specification of classes of arrangements the protection of whose counterparties should be ensured under the Bank Recovery and Resolution Directive (BRRD), due in March;
  • adoption of RTS under the Market Abuse Regulation (EU MAR), mainly due in March;
  • an implementing Regulation on RTS on cooperation with third countries, due in the first quarter; and
  • towards the end of the year, possible proposals for change to the Capital Requirements Regulation (CRR) to take account of Basel 3.

(Source: Commission outlines initiatives)