EP has adopted the motion for a resolution on stocktaking and challenges of EU financial services regulation (see FReD 15 January). It looks at the impact of these challenges and the way forward towards a more efficient and effective EU framework for financial regulation and a capital markets union. It calls, among other things, for the EU lawmakers to pay attention to possible contradictions across pieces of legislation, proportionality and prompt implementation. It also wants improved transparency when the Commission makes changes to draft documents, for example RTS. It calls for a wide-ranging review on the overall impact of several factors on EU financial services legislation and for the Commisison to complete and report on the first assessments by the end of 2016. (Source: EP Adopts Proposal on Challenges of EU Regulation)