Council adopts MiFID 2: The Council has formally adopted the revised Markets in Finaincal Instruments Directive (MiFID 2) and Regulation (MiFIR). As noted in previous editions of FReD, the changes will not take effect until 30 months after they come into force, which in turn will not be until after the legislation has appeared in the OJEU. (Source: Council Adopts MiFID 2)

Council broadens sanctions: The Council has broadened the scope of sanctions in relation to the Ukraine. (Source: Council Broadens Sanctions)

Presidency publishes MLD 4 compromise: The Presidency of the Council (Presidency) has published the fourth compromise text for the fourth Money Laundering Directive (MLD 4). There are few substantive changes from the previous text. (Source: Presidency Publishes MLD 4 Compromise)

Presidency publishes ELTIF Regulation compromise: The Presidency has tabled a third compromise text on the Regulation on European Long-Term Investment Funds (ELTIF). It contains new provisions on information disclosure, suitability assessment for retail investors and the review of the impact of the ban on early redemptions. (Source: ELTIF Regulation Compromise)

Presidency publishes IMD 2 compromise: The Presidency has published a new compromise text for the revised Insurance Mediation Directive (IMD 2). There are several changes, including those relating to:

  • scope, and the coverage of aggregation and price comparison facilities;
  • qualifications and competence; and
  • advice and distribution standards.

(Source: Presidency Publishes IMD 2 Compromise)