The Council of the EU has published an ‘I’ Item Note in which it invites the Permanent Representatives Committee (COREPER) to approve the final compromise text of the proposed Regulation amending the EU Central Securities Depositories Regulation (CSDR) (Regulation (EU) 909/2014) to shorten the standard settlement cycle for securities transactions executed on EU trading venues, from two business days (T+2) to one business day after the trade date (T+1). The change aims to improve post-trade efficiency, align EU practices with global markets, and enhance the competitiveness of EU capital markets. An exemption will apply to certain securities financing transactions (SFTs), provided they are documented as single transactions comprising two linked operations. The new rules are expected to be formally adopted and will apply from 11 October 2027.

This timeline shows key developments relating to the Capital Requirements Directive IV (Directive 2013/36/EU) (CRD IV) and the Capital Requirements Regulation (EU) 575/2013 (EU CRR) from January 2024 onwards. For earlier developments, see: Capital Requirements Directive IV (CRD IV) and Capital Requirements Regulation (CRR)—timeline [Archived]. 2026 Date Source Document Description 9 September 2026 EBA The EBA responds to the European Commission’s non-adoption of draft amending technical standards on prior permission Following the European Commission’s non-adoption of the European Banking Authority (EBA)’s targeted amendments of Commission Delegated Regulation (EU) No 241/2014 aimed at shortening the application period for reducing own funds and eligible liabilities instruments, the EBA has said it will not resubmit a revised draft of the amending regulatory technical standards (RTS). 3 September 2026 European Commission Commission Delegated Regulation (EU) 2026/1167 of 28 May 2026 supplementing Regulation (EU) No 575/2013 with regard to regulatory technical standards specifying operational risk requirements Commission Delegated Regulation (EU) 2026/1167, supplementing the CRR with RTS specifying operational risk requirements,

This Practice Note sets out the level 2 and level 3 measures adopted under the EU Capital Requirements Regulation (EU) 575/2013 (EU CRR). For more information on EU CRR, see Practice Note: EU CRD IV package—essentials, and for the latest developments, see: EU Capital Requirements Directive IV (CRD IV) and Capital Requirements Regulation (CRR)—timeline. Part One: General provisions Title I: Subject matter, scope and definitions (Articles 1–5 EU CRR provision(s) Document and date of publication Content of document Article 4(1)(18)—definitions Consultation Paper Draft Guidelines on ancillary services undertakings specifying the criteria for the identification of activities referred to in Article 4(1)(18) of Regulation (EU) No 575/2013Published 7 July 2025 The guidelines aim to set out clear, simple and consistent criteria for the identification of activities referred to in Article 4(1)(18) EU CRR. These include activities considered a ‘direct extension of banking’ and those considered ‘ancillary to banking’ as well as a process for identifying similar activities. Article 4(1)(39)—definitions Final report: European Banking Authority (EBA) Guidelines

Key information Carbon Capture and Storage Directive Title Directive 2009/31/EC of the European Parliament and of the Council of 23 April 2009 on the geological storage of carbon dioxide (Carbon Capture and Storage (CCS) Directive) Entry into force 25 June 2009 Deadline for transposition 25 June 2011 Amendments —Directive 2011/92/EU of the European Parliament and of the Council of 13 December 2011 on the assessment of the effects of certain public and private projects on the environment—Decision (EU) 2018/853 of the European Parliament and of the Council of 30 May 2018 amending (among others) Directive 2009/31/EC as regards procedural rules in the field of environmental reporting  —Regulation (EU) 2018/1999 of the European Parliament and of the Council of 11 December 2018 on the Governance of the Energy Union and Climate Action National transposition measures See Eur-Lex information on national transposition measures, as provided by Member States Subject Climate Change, Energy; Carbon capture; Carbon storage; CCS What is carbon

This timeline shows key developments relating to Regulation (EU) 909/2014 (the EU Central Securities Depositories Regulation) from January 2024 onwards. For earlier developments, see Central Securities Depositories Regulation (CSDR)—timeline [Archived] 2026 Date Source Document Description 6 July 2026 European Commission COMMISSION DELEGATED REGULATION (EU) …/... amending the regulatory technical standards laid down in Delegated Regulation (EU) 2017/392 as regards the information a Central Securities Depository is to provide to its competent authority for the review and evaluation process referred to in Article 22(1) of Regulation (EU) No 909/2014COMMISSION DELEGATED REGULATION (EU) …/... amending the regulatory technical standards laid down in Commission Delegated Regulation (EU) 2018/1229 of 25 May 2018 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on settlement discipline The European Commission has adopted Commission Delegated Regulation (EU) …/... amending the regulatory technical standards laid down in Delegated Regulation (EU) 2017/392 as regards the information a Central Securities Depository (CSD) is to provide to its competent authority for the review and evaluation

This Practice Note provides information on the Central Securities Depositories Regulation (EU) 909/2014 (EU CSDR). Development of the EU CSDR Central securities depositories (CSDs) hold securities in a dematerialised form and provide a clearing and settlement service for market participants. Given that CSDs are of systemic importance for the functioning of securities markets, in the aftermath of the financial crisis the Commission introduced a legislative proposal in March 2012 for a Regulation to improve securities settlement and regulate CSDs. Following on from this proposal, on 28 August 2014, EU CSDR was published in the Official Journal of the EU, and it entered into force on 17 September 2014. The aim of EU CSDR is to ensure that financial transactions in securities are settled and cleared in a safe and timely fashion. The Commission noted that the number of settlement fails is higher for cross-border transactions and, therefore, considered that harmonisation of certain processes throughout the EU would help improve this situation and reduce the number of settlement fails. The Commission identified a number of areas that it

Key information EU Climate Regulation Title Regulation (EU) 2021/1119 of the European Parliament and of the Council of 30 June 2021 establishing the framework for achieving climate neutrality (EU Climate Regulation) Entry into force 29 July 2021 Deadline for transposition N/A—Regulations are directly applicable on Member States and do not require transposition Amending —Regulation (EU) 2018/1999 of the European Parliament and of the Council of 11 December 2018 on the Governance of the Energy Union and Climate Action (the Governance Regulation)—Regulation (EC) 401/2009 of the European Parliament and of the Council of 23 April 2009 on the European Environment Agency and the European Environment Information and Observation Network (the agency and Network Regulation) Amendments —Regulation (EU) 2026/667 of the European Parliament and of the Council of 11 March 2026 amending Regulation (EU) 2021/1119 as regards the setting of a Union intermediate climate target for 2040. In force 7 April 2026. Subject Climate neutrality, Paris Agreement, European Green Deal, greenhouse gas emissions Background to the EU Climate Regulation In

ARCHIVED: This Practice Note has been archived and is not maintained. The EU Commercial Agents Directive cases tracker is intended to track the relevant cases of the Court of Justice related to Council Directive 86/653/EEC (OJ L 382/17), the EU Commercial Agents Directive. For more information on the EU Commercial Agents Directive, see Practice Note: The EU Commercial Agents Directive. Case Date Summary QT v O2 Czech Republic AS, Case C-574/21 23 March 2023 Scope of the ‘commission lost’ by the commercial agent for the calculation of the indemnity payment This case concerns the calculation of the indemnity payment due to commercial agents upon termination of an agency contract.Article 17(2) of Directive 86/653/EEC requires EU Member States to legislate to ensure that commercial agents, in certain circumstances, are entitled to an indemnity payment upon termination or expiry of the agency contract. This judgment concerns the scope of what commissions should be included when calculating this indemnity.The Court of Justice has clarified that the calculation of the indemnity should

MLex: The European Commission is considering changes to how products regulated under EU sectoral product safety laws are covered by the EU’s AI law as part of its wider drive to streamline digital regulations, MLex has learned. The move, which is being considered as part of a digital ‘omnibus’ package due 19 November 2025, could ease obligations for sectors such as medical devices and industrial machinery.

MLex: The European Commission is considering postponing the entry into application of the EU AI Act following controversy around a code of practice for AI models, growing pushback from the industry, and delays in the development of technical standards. The initiative is still to be confirmed and might stop the clock for enforcement of the law with the view of passing targeted amendments meant to simplify certain aspects.

The EU Commission has published alongside the European Parliament, the Council of the EU, the European and Social Committee, and the Committee of the Regions a communication setting out the EU's health goals and its initiatives to achieve these objectives. These include the creation of a Health Emergency Preparedness and Response Authority, tackling serious cross-border health threats, and stronger mandates for the European Medical Agency and the European Centre for Disease Prevention and Control. Also discussed are improving access to safe, affordable and innovative medicines, ensuring the availability of critical medicines and medical devices, and fighting antimicrobial resistance. Finally, the communication also underlines the need to make health systems more resilient with the EU4Health programme, the need to prevent non-communicable diseases, the need to strengthen Europe's Beating Cancer Plan building on the EU Mission on Cancer, and the need to safeguard mental health European Health Data Space European Reference Networks and investments in 1+ Million Genomes initiative to tackle rare disease.

MLex: The European Commission is ‘prepared to engage’ in technical talks to see whether common ground exists to launch free trade deal talks with Bangladesh, a spokesperson for the Commission confirmed to MLex. The potential talks come as the Commission has been strengthening its ties with several countries in recent months by closing trade deals with Mercosur countries, India, Australia and Mexico in early 2026 amid rising global tensions.