International and European news

On 2 July 2020, the European Commission sued Austria, Belgium and the Netherlands before the Court of Justice of the European Union, requesting financial penalties for failure to fully incorporate the 4th Anti-Money Laundering Directive into their national laws.

On 5 June 2020, the European Securities and Markets Authority (ESMA), published the final guidelines on the MiFID II compliance function.

0n 2 June 2020, the European Securities and Markets Authority (ESMA), has published its final report with technical advices to the European Commission on the “Fair, Reasonable, Non-Discriminatory and Transparent” (FRANDT) commercial terms for the provision of clearing services.

On 20 July 2020, the Council adopted new rules to improve the way crowdfunding platforms operate across the EU.

On 8 May 2020, the European Commission issued a delegated regulation amending EU Delegated Regulation 2018/1229 regarding the effective date of the settlement discipline measures set out in the CSDR.

On 17 July 2020, new rules have been adopted which set out minimum technical requirements for EU Climate Benchmarks, as well as a number of Environmental, Social and Governance (ESG) disclosure requirements.

On 24 July 2020, the European Commission proposed to amend the EU regulation on financial benchmarks.

On 15 June 2020, the European Union published the European Systemic Risk Board (ESRB) Recommendation of 6 May 2020 on liquidity risks in investment funds.

On 8 June 2020, the European Commission published a set of draft delegated acts, including the following: