Regulatory News
ESMA has published Q&As on the onboarding of data contributors to the EU’s consolidated tapes, and on the operational rules for the consolidated tape providers.
EIOPA has published its annual report on the costs and past performance of retail investment products in the EU, covering the period from 1 January 2020 to 31 December 2024.
EIOPA has published its third report on the application of the IDD, which considers changes in insurance intermediaries' market structure, developments in cross-border activity, the quality of advice and selling methods, the impact of the IDD on insurance intermediaries that are SMEs, and whether competent authorities are sufficiently empowered and have adequate resources to carry out their tasks.
ECB reports that it is streamlining how it assesses changes to banks’ internal models for credit risk. By shifting from an ex ante to an ex post assessment, ECB states that it is making the approval process faster and more predictable for banks.
This update from the ESAs focuses on the challenges arising from ongoing geopolitical tensions and developments in private finance.
FSB has published its report on work undertaken in 2025.
For more information
ESMA has issued three opinions concerning product intervention measures in relation to CFDs and binary options taken by the French, Swedish and UK national competent authorities. However, with regard to the UK product intervention measures, ESMA has stated that certain measures are not "justified and proportionate". These specifically concern FCA’s proposal not to apply the national restrictions to CFD-like option providers authorised in other Member States other than through a UK branch or tied agent in respect of the sale or distribution of those products to UK retail clients and FCA’s proposal to apply a 30:1 leverage limit for CFDs referencing certain government bonds, instead of the 5:1 leverage limit in ESMA’s measures. FCA has published a press release in response.
ESMA has issued four opinions concerning product intervention measures in relation to binary options taken by the Cypriot, French, Maltese and Swedish national competent authorities.
ESMA has published a table setting out details of competent authorities’ compliance as to ESMA's guidelines on exemption for market making activities and primary market operations under the Short Selling Regulation and certain aspects of CDS. In the cases of jurisdictions where the competent authority does not intend to comply (UK, Germany, France, Denmark, Sweden), ESMA has provided further details on their reasons.
ESMA has published two Opinions on pension schemes where Finansinspektionen is the competent authority for securities markets. After the exemptions are granted by Finansinspektionen, ESMA will publish the list of the types of entities/ arrangements that have been exempted.
Dive deeper
All Publications
All Legal Updates
All Regulatory News
All News
All Events
All Videos
All Podcasts
Antitrust, Competition & Trade
Banking & Finance
Commercial
Corporate / M&A
Dispute Resolution
Employment, Labour & Pensions
ESG – Environmental, Social & Governance
Intellectual Property
Public Procurement
Real Estate
Restructuring & Insolvency
Special Assignments
Construction
Consumer Products
Energy & Climate change
Funds
Hospitality, Travel & Leisure
Insurance
Life Sciences & Healthcare
Private Clients
Private Equity
Shipping & Transportation
TMC - Technology, Media & Communications
Local market knowledge. Global outlook
We provide future-facing legal advice to help your organisation thrive. Combining local market knowledge and a global perspective, and with lawyers in locations worldwide, your organisation benefits from the expertise it needs, even across borders.
About CMS