The European Commission has adopted an Industrial Carbon Management Communication setting out how technologies that can capture or remove CO2 directly from the atmosphere and then store or use it, can contribute to emissions reductions and the EU’s goal of reaching climate neutrality by 2050. The Communication sets out a policy approach on how the EU will reach relevant targets set out in the proposed Net-Zero Industry Act, identifies actions to be taken at EU and national level to establish a single market for CO2 in Europe and sets out horizontal actions to create a more attractive environment for investments. The Commission has released a question and answers document on the Communication to complement its press release. The Commission will also start preparatory work on a possible future CO2 transport and storage regulatory package.

The European Commission has adopted a delegated regulation supplementing the Markets in Cryptoassets Regulation (Regulation (EU) 2023/1114) (MiCA) with regard to regulatory technical standards (RTS) specifying records to be kept of all cryptoasset services, activities, orders and transactions undertaken.

The European Commission has adopted a delegated regulation supplementing the Markets in Cryptoassets Regulation (Regulation (EU) 2023/1114) (MiCA) with regard to regulatory technical standards (RTS) specifying the requirements for policies and procedures on conflicts of interest for cryptoasset service providers (CASPs) and the details and methodology for the content of disclosures on conflicts of interest.

The European Commission has adopted a delegated regulation supplementing the Markets in Cryptoassets Regulation (Regulation (EU) 2023/1114) (MiCA) with regard to regulatory technical standards (RTS) specifying the requirements for policies and procedures on conflicts of interest for issuers of asset-referenced tokens (ARTs).

The European Commission has adopted  a delegated regulation supplementing the Markets in Cryptoassets Regulation (Regulation (EU) 2023/1114) (MiCA) with regard to regulatory technical standards (RTS) specifying the arrangements, systems and procedures to prevent, detect and report market abuse, the templates to be used for reporting suspected market abuse, and the coordination procedures between the competent authorities for the detection and sanctioning of market abuse in cross-border market abuse situations.

The European Commission has adopted a Commission Delegated Regulation with regard to regulatory technical standards (RTS) specifying, for simple, transparent and standardised (STS) non-ABCP traditional securitisation, and for STS on-balance-sheet securitisation, the content, methodologies and presentation of information related to the principal adverse impacts of the assets financed by the underlying exposures on sustainability factors under Regulation (EU) 2017/ 2402 (the Securitisation Regulation).

The European Commission has adopted a Communication on the total number of allowances in circulation (TNAC) on the European carbon market, with a total of 1,111,736,535 in 2023. This is the first Communication on the TNAC since the operation of the Market Stability Reserve (MSR) was amended as part of the ‘Fit for 55’ legislative package, revising Decision 2015/1814 (MSR Decision) and Directive 2003/87/EC (EU Emissions Trading System Directive (ETS Directive)), and the change laid out in Regulation (EU) 2023/435 (REPowerEU Regulation) in February 2023, as one of EU's response to the energy crisis. If the threshold of 1.096bn is exceeded, 24% of the total allowances are to be placed in reserve under the MSR decision, and a total of 266,816,768 allowances will be placed in the MSR from 1 September 2024 to 31 August 2025. Under Article 1(5a) of the MSR Decision, any allowances in the MSR above 400m allowances are no longer valid from 2023 onwards. The TNAC indicator will be published on 1 June 2025.

Life Sciences analysis: The European Commission adopted Implementing Regulation (EU) 2021/2226 which establishes the conditions under which instructions for use of certain medical devices subject to Regulation (EU) 2017/745 (the Medical Devices Regulation (MDR)) can be provided in electronic form instead of in paper form. This Implementing Regulation adapts the rules for electronic instructions for use to the requirements of the MDR. It repeals Regulation (EU) 207/2012 issued under the old Medical Devices Directives (MDDs) regime. Regulation (EU) 2021/2226 came into effect on 4 January 2022. Fabien Roy, partner, and Grégoire Paquet, associate, at Hogan Lovells, outline the scope and the conditions of the Implementing Regulation.

The European Commission has adopted the Commission Implementing Regulation  (EU) …/... of 15.3.2024 amending the implementing technical standards (ITS) laid down in Implementing Regulation (EU) 2021/451 as regards rules on the supervisory reporting of interest rate risk in the banking book (IRRBB).

The European Commission has adopted amendments to the Solvency II delegated regulation with the aim of encouraging long-term investments by enhancing the investment capacity of insurers. This will allow them to allocate more capital to financing the real economy, while maintaining the robustness of the legal framework and the protection of policyholders. The new rules taking effect on 30 January 2027.

The European Commission has adopted a delegated regulation which amends Delegated Regulation (EU) 876/2013 supplementing the European Markets Infrastructure Regulation (Regulation (EU) 648/2012) (EMIR)) as regards changes to the functioning and management of colleges for central counterparties (CCPs) (the 2013 Delegated Regulation). This delegated regulation amends Delegated Regulation (EU) 876/2013 as a result of amendments made to EMIR by Regulation (EU) 2024/2987 (EMIR 3), including with regard to the functioning of CPPs.

The European Commission has adopted a delegated act providing further detail on the active account requirement introduced under the recent amendments to the amended European Market Infrastructure Regulation (Regulation (EU) 2024/2987)  (EMIR 3). The act sets out expectations for the number and timing of transactions to be cleared through EU central counterparties and provides guidance for supervisory authorities. The requirement to hold an active account has applied since December 2024, with the obligation to clear representative transactions in effect since June 2025. The delegated act will be submitted to the European Parliament and the Council for scrutiny. If endorsed, it will be published in the Official Journal and enter into force 20 days after publication.