The Commission has updated its programme of planned initiatives for the rest of 2011. It expects both its review of MiFID and the recast Market Abuse Directive to be adopted on 5 July 2011. On 13 July 2011, the Commission expects to adopt a new legislative instrument on standardising precontractual information for retail investors on packaged retail investment products (PRIPS). The Commission intends this instrument to provide a starting point for further detailed work in the form of implementing measures, which will tailor the information requirements as necessary for different types of product. It has scheduled its revision of the Insurance Mediation Directive, designed to improve harmonisation across Member States, for adoption during Q4. A legislative initiative for a framework for crisis management and resolution in the banking sector, a follow-up to the 2010 Communication, will be adopted on 29 June 2011. As part of the wider crisis management programme, the Commission will also review existing legislation to enhance the quality of corporate governance mechanisms in credit institutions and investment firms, as well as adopting a new directive on close-out netting. (Source: Planned Commission initiatives until end of 2011)