Regulatory updates
Curated updates from European and national sources with LX20 operational comment.
European Commission launches call for candidates for ESAs' Board of Appeal
esma — 2026-05-12
The European Commission has launched a call for expressions of interest for the appointment of members to the Board of Appeal of the three European Supervisory Authorities (EBA, EIOPA, ESMA), aiming to establish a reserve list.
ESMA: Challenges in Compliance and Internal Audit for EU/EEA Fund Managers
esma — 2026-05-11
ESMA published the results of its 2025 Common Supervisory Action (CSA), highlighting areas for improved supervisory convergence regarding compliance and internal audit functions within fund managers.
ESMA consults on a simplified approach for MMF stress test parameters
esma — 2026-05-10
ESMA has launched a consultation to introduce a new simplified approach for the annual update of Money Market Fund (MMF) stress test parameters, shifting to web-based publication.
ESMA: Simplification of EU Funds and Transactions Reporting Frameworks
esma — 2026-05-10
ESMA launches a harmonized approach to funds reporting and sets a path for streamlined transaction reporting, aiming to reduce operational burdens and improve data quality.
ESMA: Proportionate Supervision of MiFID II Sustainability Requirements
esma — 2026-05-10
ESMA published the results of its Common Supervisory Action (CSA) on the integration of sustainability into MiFID II, promoting a proportionate supervisory approach for national authorities.
ESMA launches sixth stress test for Central Counterparties (CCPs) to assess resilience
esma — 2026-05-10
ESMA has launched its sixth stress test exercise for Central Counterparties (CCPs), involving 16 CCPs and an adverse scenario from the ESRB, to assess their resilience and the impact of recovery and resolution arrangements.
ESMA launches call for evidence on restricted subscription and private credit ratings
esma — 2026-05-10
ESMA has launched a call for evidence to gather views on the purposes, market practices, needs, and risks associated with restricted subscription and private credit ratings, as their use increases.
ESMA consults on guidelines for endorsement of non-EU ESG ratings
esma — 2026-05-10
ESMA has launched a public consultation on draft guidelines concerning the endorsement of ESG ratings issued outside the European Union, under the ESG Ratings Regulation.
ESMA publishes 2025 ESEF Taxonomy: Implementation Support and Regulatory Stability
esma — 2026-05-10
ESMA has published the 2025 ESEF XBRL taxonomy and an updated ESEF Conformance Suite to support issuers in preparing 2026 IFRS consolidated financial statements, incorporating IFRS 18 for a smoother transition.
ESMA: 2025 Corporate Reporting Enforcement Activities across EEA
esma — 2026-05-10
ESMA publishes its 2025 Report on Corporate Reporting Enforcement and Regulatory Activities in the EEA, focusing on financial, sustainability (ESRS), and digital (ESEF) reporting.
European Equity Markets: ESMA Launches Call for Evidence on Trading Structure Evolution
esma — 2026-05-10
ESMA has launched a call for evidence on European equity market structures, analyzing MiFIR data from 2022 to 2025 and inviting feedback on observed trends and regulatory implications.
Italian DPA admonishes media on dissemination of personal data in judicial inquiries
garante — 2026-04-23
The Italian Data Protection Authority has admonished media outlets regarding the dissemination of names of individuals involved in a Milan judicial inquiry, even if not under investigation, emphasizing the need to respect dignity and reputation.
Italian DPA Newsletter - ENI Sanctions, Online Exams FAQs & Ex-Employee Email Access, Linate FaceBoarding
garante — 2026-04-15
The Italian DPA newsletter of April 15, 2026 reports a 96,000 euro sanction against ENI, new FAQs on online exams and distance learning, the right to access personal emails after employment termination, and the non-compliance of Milan Linate's "FaceBoarding" system.
Listing Act – Directive (EU) 2024/2811: amendments to MiFID II on research, free float and listing
eur-lex — 2024-11-14
From 6 June 2026 the research payment regime changes, the minimum free float drops to 10% and "issuer-sponsored research" is introduced.