On 27 March 2014, the EU Council confirmed that it had agreed the terms of the regulation establishing the Single Resolution Mechanism (SRM) with the EU Parliament.  According to the press release, this will enable the EU Parliament to approve the text of the SRM regulation at first reading at its next session (scheduled for […]

On 12 March 2014, the EU Parliament issued a short press release regarding the ongoing trilogue negotiations with the EU Council over the Single Resolution Mechanism (SRM).  The Parliament acknowledged that progress had been made, but warned that there was still much work to be done and that crucial issues remained outstanding.  Detailed wording from […]

On 10 March 2014, the Presidency of the Council of the EU published a report on the EU Parliament’s proposed amendments to the regulation establishing the single resolution mechanism (SRM). Conscious that the legislative term of the Parliament ends with elections in May and of the Parliament’s pledge to ‘go it alone’ and vote on […]

On 19 February 2014, the EU Council published a press release reviewing the state of play of negotiations over the single resolution mechanism (SRM). Committed to reaching agreement over the SRM before the upcoming parliamentary elections, EU finance ministers had met the previous day in order to discuss possible adjustments to the Council’s December 2013 […]

The trilogue participants have finally handed over compromise text of  MiFID II/MiFIR II for legislative drafting. A scant two years behind schedule, the negotiations have taken four years to reach this point. Though very few people have read the 464 page document in sufficient detail to be certain, it is clear that the compromise is […]

Documents received by Reuters late last week point to the possibility that some derivatives may be exempted from the controversial and consequential FTT, the 11 eurozone nation[1] “Tobin” tax. 

The Conference of Presidents Group have held intensive talks with their EP negotiators on the state of SRM play. The result is firmly-worded missive sent today from their own current President, Martin Schulz, to Commission President Manuel Barroso, summary translations in bold italic:

A surprising outbreak of harmony has seen the European trilogue partners reaching agreement on MifiD II. The EC, EU and the Parliament finally concluded over three years of negotiation late Tuesday evening, producing a definitive outline version of the fundamental reform legislation. The post-2008 sequel to MiFiD/MiFiR is intended to update regulations, dealing with recent […]

On 22 December 2013 the Council of the EU published a note attaching the final compromise text of the proposed Recovery and Resolution Directive (RRD) agreed with the European Parliament.  Agreement in trialogue had previously been reached on 11 December 2013. On 20 December 2013, the Permament Representatives Committee (COREPER) of the Council of the […]