The European Commission has today published new guidelines on corporate climate-related information reporting, as part of its Sustainable Finance Action Plan. These guidelines will provide companies with practical recommendations on how to better report the impact that their activities are having on the climate as well as the impact of climate change on their business.
The Council today adopted two key reforms in the framework of the Capital Markets Union.
- a regulation providing greater choice for people who wish to save for their retirement and expanding the market for personal pensions through the creation of a “pan-European pension product” (PEPPs).
- a package of measures aimed at removing existing barriers to the cross-border distribution of investment funds.
Update – the Communication ‘Deepening Europe’s Economic and Monetary Union: Taking stock four years after the Five Presidents’ Report’ is now available.
Ahead of the Euro Summit on 21 June 2019, the European Commission today takes stock of the progress made to deepen Europe’s Economic and Monetary Union since the Five Presidents’ Report and calls on Member States to take further concrete steps.
ESMA identified four main characteristics of FBA trading systems through its call for evidence and intends to issue supervisory guidance on pre-trade transparency and on the price determination process of FBAs.
For the new amendments linked with Solvency II, a re-consultation is required.
Today’s updates include DVC data and calculations for the period 1 May 2018 to 30 April 2019 as well as updates to already published DVC periods.
The European Securities and Markets Authority (ESMA) has published a draft amendment to the regulatory technical standards (RTS) on the European Single Electronic format (ESEF) to update the core taxonomy to be used for ESEF reporting.
Speech by Luis de Guindos, Vice-President of the ECB, Association for Financial Markets in Europe Conference, Supervision and Integration Opportunities for European Banking and Capital Markets, Frankfurt am Main, 23 May 2019.