Council outlines position on proposed regulation to streamline financial services reporting
The Council of the EU, in its position adopted at first reading on 8 July 2025 on the proposed regulation amending the ESRB Regulation, the EBA Regulation, EIOPA Regulation, the ESMA Regulation, the SRM Regulation, the InvestEU Programme Regulation and the AML Authority Regulation (Regulations (EU) 1092/2010, 1093/2010, 1094/2010, 1095/2010, 806/2014, 2021/523 and 2024/1620), set out its reasons for supporting the proposal. It stated that the position reflects the outcome of negotiations with the European Parliament and supports the objective of ensuring that reporting requirements in the financial services and investment sectors are proportionate, streamlined and effective. The Council also noted that the proposal aims to reduce administrative burdens, avoid duplication and improve the efficiency of supervisory data collection.