European Union: Finance and Banking

Die ESMA hat klargestellt, dass Event Contracts mit binärem Auszahlungsprofil als Derivate unter bestehende EU-Produktinterventionsmaßnahmen fallen und deren Vertrieb an Retail-Kunden EU-weit verboten ist. Unternehmen, die solche Produkte oder vergleichbare Prediction-Market-Instrumente anbieten, müssen ihre Produktklassifizierung, Vertriebskanäle und MiFID-II-Zulassungsstatus dringend überprüfen und dokumentieren.

The European Parliament's Economic and Monetary Affairs Committee has published two draft reports on the Market Integration and Supervision Package that significantly expand the European Commission's proposals, introducing comprehensive direct ESMA supervision over all EU CCPs and CSDs, direct oversight of significant asset management groups, and a statutory competition mandate for ESMA. These far-reaching changes to EU capital markets supervision architecture will fundamentally impact regulated firms' supe

The European Commission has adopted two delegated acts as part of the CSRD simplification under the Omnibus I package...

Malta has established its first Notified Professional Investor Fund under the Single Family Office Exempt Manager Framework, offering family offices a proportionate regulatory pathway that balances efficient wealth structuring with appropriate oversight. The framework provides an alternative to institutional fund manager requirements, enabling single family offices to manage private wealth through NPIFs with governance structures suited to their scale and operations.

The Central Bank of Ireland has completed its review of delegation practices across fund management companies, examining how the sector's dramatic growth to €5.6 trillion in assets has impacted oversight and governance frameworks. With 9,000 authorized funds now supported by 121 FMCs, the regulator has identified both effective practices and areas requiring enhancement across five critical operational domains. FMCs must now benchmark their policies against these supervisory expectations and implement

US fund managers establishing Luxembourg special limited partnerships face critical decisions about board composition and liability exposure.

The European Union's Sixth Capital Requirements Directive introduces a groundbreaking EU-wide framework requiring third-country credit institutions to establish authorised branches when providing core banking services within the EU. This new regime, effective January 2027, replaces the previous patchwork of national rules with harmonised supervisory standards, though several exemptions and transitional protections apply to existing arrangements.

The implementation of CRD VI introduces a new regulatory framework governing how non-EU credit institutions and undertakings can provide core banking services within the European Union. Ireland's transposition of Article 21c requirements on 10 July 2026 creates both opportunities and interpretive challenges for firms navigating deposit-taking, lending, and guarantee provision in the post-January 2027 landscape.

The European Commission has proposed significant amendments to the EU's securitisation framework, aiming to remove barriers in the market while maintaining investor protections. With the Council and Parliament having finalized their positions, trilogue negotiations are now underway under Ireland's EU Presidency, testing the balance between market liberalization and regulatory safeguards.

Private debt financing requires more than a strong project—it demands precise, credible documentation that answers fund analysts' critical questions upfront. This analysis examines how professional Information Memoranda, strategic fund identification, and transparent risk presentation determine whether well-conceived real estate, renewable energy, and growth ventures secure capital or lose their only opportunity to make a first impression.

International law firm BCLP has advised a banking pool led by Crédit Agricole du Languedoc on establishing a €38 million Revolving Credit Facility for Elements, a renewable energy producer based in Montpellier. The facility, which can be extended to €50 million, will support the company's ambitious growth plans to reach 1 GW of installed capacity through photovoltaic, hydropower, and wind projects across France and Italy.

Project Finance Comparative Guide for the jurisdiction of Greece, check out our comparative guides section to compare across multiple countries