Council highlights remuneration rules: The Council has highlighted that standards on remuneration and transparency in banks and investment firms that supplement the fourth Capital Requirements Directive (CRD 4) came into force on 26 June. (Source: Council Highlights Remuneration Rules)

Member States clash over retail access to ELTIFs: Despite agreeing their general approach to the European Long Term Investment Funds (ELTIFs) Regulation, Member States' positions on the marketing of ELTIFs to retail investors differ considerably. The UK and Estonia have expressed concern over the €10,000 minimum investment requirement on retail investors, which is at odds with the proposal's original aim of creating a regime suitable for the retail markets. They believe that requiring an advised sale process would be a better approach. On the other hand, Austria, Belgium, France and Portugal want to raise, in the course of trilogue negotiations, the minimum entry ticket for retail investors to €100,000. (Source: Statements)

Italian Presidency publishes agendas for next semester: The Italian Presidency of the Council has published the provisional agendas for the meeting of the Economic and Financial Affairs Council (ECOFIN) during the next six months. During the months of October and November the Presidency aims to reactivate the review of the European supervisory structure and the introduction of a Financial Transactions Tax under the method of enhanced cooperation. It also forecasts that around those dates the Council will agree its general approach to the recast Insurance Mediation Directive (IMD 2) and Payment Services Directives (PSD 2), and to the Regulation on Secured Financing Transactions. It also expects to achieve general approaches for the Benchmarks Regulation and the Money Markets Regulation (MMR) by the end of the year. (Source: Provisional Agendas of the Italian Presidency)

Presidency publishes PSD 2 Compromise: The Presidency has published a compromise text for PSD 2. (Source: Presidency Publishes PSD 2 Compromise)

Council publishes Solvency 2 corrigendum: The Council has published a corrigendum to the agreed text of the Solvency 2 Directive. (Source: Solvency 2 Corrigendum)