Latest news from EU institutions and bodies

Coordinated efforts from Romanian and French authorities, with support from Eurojust and Europol, have led to the dismantling of a human trafficking network. The organised crime group (OCG) trafficked Romanian women into France for sexual exploitation. During a recent action day, eight suspects were identified and multiple victims and witnesses were heard. The victims have been offered support.

ESMA puts forward measures to support corporate sustainability reporting 05 July 2024 Sustainable finance The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published a Final Report on the Guidelines on Enforcement of Sustainability Information (GLESI) and a Public Statement on the first application of the European Sustainability Reporting Standards (ESRS). These documents will support the consistent application and supervision of sustainability reporting requirements. The purpose of the GLESI is to provide guidance to build convergence on supervisory practices on sustainability reporting. See explainer video here. Through the Public Statement on the first-time application of the ESRS, ESMA intends to support large issuers in going through the learning curve associated with the implementation of these new reporting requirements. See visuals here.  The guidelines and statement published today are in line with recommendations proposed in the recently published ESMA Position Paper “Building more effective and attractive capital markets in the EU” namely:   promoting EU capital markets as a hub for green finance – this should include efforts to clarify the disclosure of sustainability information to aid comprehension by investors, also through the use of sustainability labels/categories as necessary; reducing complexity and enhancing clarity for the industry can also serve to ease compliance burdens; and  improving supervisory consistency amongst EU National Authorities – fostering harmonised enforcement outcomes through enhanced cooperation and convergence  Next steps   ESMA will continue to monitor the sustainability reporting practices in 2025 as well as the application of the GLESI. ESMA will translate the  GLESI in all EU languages and make these translations available on its website.  In addition, ESMA will release in Q4 recommendations in relation to the sustainability statements of listed companies in its Public Statement on the 2024 European Common Enforcement Priorities.         Further information: Dan Nacu-Manole Communications [email protected]   05/07/2024 ESMA32-992851010-1600 Final Report on Guidelines on Enforcement of Sustainability Information (GLESI) 05/07/2024 ESMA32-992851010-1597 European Sustainability Reporting Standards (ESRS) Statement

The European Investment Bank (EIB) will provide advisory services to Athens Water Supply and Sewerage Company (EYDAP) in Greece to support the company’s €2 billion, 10-year investment programme to ensure the Greek capital has a more resilient water supply.

European Commission Statement Brussels, 05 Jul 2024 The European Union is deeply concerned about the Israeli army orders to evacuate civilians from the area of Khan Younis. Some 250 000 people are impacted by the...

New MiCA rules increase transparency for retail investors 04 July 2024 Digital Finance and Innovation The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published the second Final Report under the Markets in Crypto-Assets Regulation (MiCA) covering eight draft technical standards that aim to provide more transparency for retail investors, clarity for providers on the technical aspects of disclosure and record-keeping requirements, and data standards to facilitate supervision by National Competent Authorities (NCAs).    The final report published today includes the following draft technical standards:  sustainability indicators for crypto-asset consensus mechanisms;  business continuity measures for crypto-asset service providers (CASPs);  trade transparency;  content and format of orderbooks and record-keeping by CASPs;  machine readability of white papers and the register of white papers; and  public disclosure of inside information.   The draft standards provide market participants with technical requirements to ensure human and machine readability of crypto-asset white papers, as well as templates and formats for CASP order and transaction records. The rules also detail how CASP trading platforms should publish the data required for pre-and post-trade transparency. Once in place, this will ensure that NCAs have access to the information needed for effective supervision of the EU crypto-asset market.    Finally, the report covers public disclosures, helping investors to understand the impact on the climate and the environment of the consensus mechanisms underpinning the crypto-assets they hold, as well as descriptions on how issuers should disclose price-sensitive information to the public to prevent market abuses, such as insider dealing.  Next Steps Once finalised, the draft technical standards will be submitted to the European Commission for adoption. The European Commission shall decide whether to adopt them within 3 months.     Further information: Cristina Bonillo Senior Communications [email protected] 04/07/2024 ESMA12-766636679-320 Study on MiCA Whitepaper Data Formats 04/07/2024 ESMA75-453128700-1229 Final Report MiCA CP2