Presidency publishes PSD 2 compromise: The Presidency has published a further compromise text for the revised Payment Services Directive (PSD 2). (Source: Presidency Publishes PSD 2 Compromise)

Presidency suggests IMD 2 approach: The Council is proposing a general approach to the recast Insurance Mediation Directive (IMD 2 - now the Insurance Distribution Directive). After significant debate, a few issues are outstanding. The main sticking point is when insurance distributors can receive fees or commissions when distributing insurance-based investment products. The UK maintains IMD 2 should follow the Markets in Financial Instruments Directive (MiFID) approach while Spain is adamant it should depart from it. The current Compromise text allows intermediaries to accept these fees and commissions provided there is no detrimental impact on the quality of the services to the customer, while keeping complete alignment with MiFID on transparency of costs. It would also allow Member States to adopt stricter provisions at national level. Austria also wants a specific regime for insurance intermediaries which provide advice on the basis of a fair and personal analysis. The Presidency is now inviting the Permanent Representatives to agree a general approach on these matters. (Source: Presidency Suggests IMD 2 Approach)