Big success for the Lithuanian Presidency: Five pieces of financial services legislation 'in the bag' in December - but two 'got away' for the moment: MiFID and SRM.
Summary
A virtual torrent of agreements on significant pieces of financial services legislation was agreed in the last few days of 2013. Five were ‘bagged’ but two got away – even if only temporarily: MiFID and SRM. Those in the bag were:
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Bank "bail-in directive" - BRRD
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Parliament and Council negotiators break depositor-taxpayer link - DGS
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Council confirms agreement with EP on Market Abuse Directive (creating the first EU level criminal offences)
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Reform of the audit market
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Regulation on central securities depositories.
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© Graham Bishop
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