On 12 May 2016, the Presidency of the Council of the EU published a further compromise proposal of the draft Regulation on Money Market Funds (MMF Regulation), which was discussed in our April Front Page.

European Commission level 2 financial services measures 

The EU Commission published an overview of its level 2 measures in the area of financial services. The overview comprises a table of level 2 measures (in preparation or adopted) relating to various level 1 legislation including:

  • UCITS V Directive.
  • MiFID II Directive and the Markets in Financial Instruments Regulation.
  • Market Abuse Regulation.
  • Payment Services Directive.
  • EMIR (the Regulation on OTC derivative transactions, central counterparties and trade repositories.
  • European Venture Capital Funds Regulation.
  • European Social Entrepreneurship Funds Regulation.
  • Regulation on improving securities settlement and regulating central securities depositories.
  • Regulation on key information documents or packaged retail and insurance-based investment products.
  • Regulation on European long-term investment funds.
  • Regulation on reporting and transparency of securities financing transactions.