The Council on Economic and Finance Ministers (ECOFIN) in the EU Council set out its priorities under the Lithuanian Presidency and has published its work programme. Among its key priorities are:

  • banking union;
  • agreement with the European Parliament (EP) on the review of the Markets in Financial Instruments Directive (MiFID 2) and Regulation (MiFIR) and agreement on the Central Securities Depositary Regulation;
  • adoption of the bank Recovery and Resolution Directive (RRD) and Deposit Guarantee Directive (DGD);
  • agreement in Council on the fourth Money Laundering Directive; and
  • progress on Omnibus II.

It also noted the recent agreement on the Market Abuse Regulation (MAR) and hinted at a possible future review of sanctioning regimes in the financial services sector generally. (Source: Council Sets Priorities)