Politics
Council and Parliament strike provisional agreement on new rules for driving licences
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Politics
Israel: remarks by High Representative/Vice-President Kaja Kallas at the joint press conference with Minister for Foreign Affairs Gideon Sa’ar
DISCLAIMER OPINIONS: The opinions of the authors or reproduced in the articles are the ones of those stating them and it is their own responsibility. Should you find any incorrections you can always contact the newsdesk to seek a correction or right of replay.
DISCLAIMER TRANSLATIONS: All articles in this site are published in English. The translated versions are done through an automated process known as neural translations. If in doubt, always refer to the original article. Thank you for understanding.
DISCLAIMER PHOTOS: We mostly used photos images that are readily available online, from free sources, or from the people promoting the news. If by any chance it happens that we have used one of your copyrighted photos, please do not hesitate to contact us and we will take it down without question. We do not make profits as this is a not for profit project to give voice to the voiceless while giving them a platform to be informed also of general news, and it is completely free.
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The Council adopted today a regulation on financial benchmarks with the aim of reducing red tape for EU companies, particularly SMEs.
Benchmarks are widely used by companies and investors in the EU as references in their financial instruments or contracts.
This legislation amends a regulation from 2016 regarding the scope of the rules for benchmarks, the use of benchmarks provided by administrators located in third countries, and certain reporting requirements.
Main elements of the amended benchmarks regulation
- Reduced regulatory burden on administrators of benchmarks defined as non-significant in the EU by removing them from the scope of the legislation.
- Only critical or significant benchmarks remain within the scope of the new regulation.
- Administrators outside the scope of the rules will be able to request the voluntary application of the rules (opt-in), under certain conditions.
- Extended competence for the European Securities and Markets Authority (ESMA).
- Administrators of EU Climate Transition Benchmarks and EU Paris-Aligned Benchmarks must be registered, authorized, recognised, or endorsed to ensure regulatory oversight and prevent misleading ESG claims.
- A specific exemption regime for spot foreign exchange benchmarks.
Next steps
The final text will be published in the Official Journal of the EU, will enter into force, and apply from 1 January 2026.
Background
The Commission presented this proposal in 2023 as part of a package of measures to rationalise financial reporting requirements.
In its Communication ‘Long-term competitiveness of the EU: looking beyond 2030’, the Commission stressed the importance of a regulatory system that ensures objectives are met at minimum cost. It has therefore committed to a renewed effort to simplify and rationalise reporting requirements, with the ultimate aim of reducing administrative burdens by 25%, without undermining the related policy objectives.
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DISCLAIMER OPINIONS: The opinions of the authors or reproduced in the articles are the ones of those stating them and it is their own responsibility. Should you find any incorrections you can always contact the newsdesk to seek a correction or right of replay.
DISCLAIMER TRANSLATIONS: All articles in this site are published in English. The translated versions are done through an automated process known as neural translations. If in doubt, always refer to the original article. Thank you for understanding.
DISCLAIMER PHOTOS: We mostly used photos images that are readily available online, from free sources, or from the people promoting the news. If by any chance it happens that we have used one of your copyrighted photos, please do not hesitate to contact us and we will take it down without question. We do not make profits as this is a not for profit project to give voice to the voiceless while giving them a platform to be informed also of general news, and it is completely free.
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Council and Parliament strike provisional agreement on new rules for driving licences
Israel: remarks by High Representative/Vice-President Kaja Kallas at the joint press conference with Minister for Foreign Affairs Gideon Sa’ar
Council adopts financial benchmarks regulation to ease burden on SMEs
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