On 4 December 2025, the European Commission introduced the Market Integration & Supervision (MIS) Package to strengthen EU financial market integration.
Key points:
• Direct ESMA oversight of major financial entities and cryptoasset service providers.
• Harmonized rules by converting key directives into regulations for consistent application.
• Goal: Improve market integrity, investor protection, and reduce fragmentation.
Implementation will take several years, with no immediate changes expected.

In a major shakeup to businesses’ obligations relating to human rights, environmental standards and climate change, the Corporate Sustainability Due Diligence Directive is set to become law.
In this article, we focus on the nature of the due diligence obligations: what is required in terms of diligence, what types of impacts are covered, etc.

On 17 January 2024, the International Swaps and Derivatives Association, Inc. (ISDA) launched a new clause library – this time for sustainability-linked derivatives (SLDs) – that sets out template contractual terms and related definitions for SLD transactions. The SLD Clause Library introduces standardized provisions for SLDs to meet the growing market demand for derivatives products linked to environmental, social and governance (ESG) goals, enhancing the commercial viability of SLDs as an effective financial tool to facilitate the delivery of sustainable initiatives.

France is the first country in the European Union to transpose the Corporate Sustainability Reporting Directive (CSRD).
The CSRD replaces the previous Non-Financial Reporting Directive, that created the obligation for non-financial reporting. This transposition broadens the scope of companies that have to implement sustainability reporting and extends their transparency obligations.

On 28 June 2023, the EU Commission published its long-awaited package of reforms to the EU payments regulatory regime. Deeming the package an “evolution not a revolution” of the EU payments framework, the Commission has published proposals for:
• A third Payment Services Directive repealing and replacing the Payment Services Directive and Electronic Money Directive
• A new Payment Services Regulation, which will harmonize and directly apply most of the conduct obligations imposed on payments firms
• A new Regulation on a framework for financial data access, relating to open finance
• A new Regulation on the establishment of a digital euro

This virtual seminar series provides insights on how the regulatory landscape is changing and discuss the future of crypto within the financial services sector. Recordings of the following sessions are now available — The Crypto Ecosystem; Integrating Crypto into Established Financial Services (Part 1: Funds and Listings and Part 2: Practical Considerations); Crypto Risk: Significant Legal and Regulatory Risks; A Deep Dive into NFTs; and DeFi (Decentralized Finance).

In October 2022, the Council of the EU published the long-awaited compromise text of the proposed Regulation on Markets in Cryptoassets (MiCA), a “landmark regulation” that, according to the Council, will “put an end to the crypto wild west”. Once in force, MiCA will establish the first comprehensive, pan-EU regulatory regime for the regulation of cryptoassets, including the regulation of (i) cryptoassets issuance activities and (ii) cryptoasset service providers (who will be held to similar regulatory standards to those imposed on investment firms).

The speed and volume of change in the crypto asset markets has accelerated across the globe, with established financial institutions increasingly entering the sector whilst regulators look to keep pace. Recent high-profile developments and market volatility have led to growing calls for scrutiny and regulatory controls. Navigating this fast paced environment, within a sometimes disjointed regulatory framework, can be challenging. The Crypto Boot Camp 2022 Series covers the crypto ecosystem and integrating crypto into established financial systems (recordings available), crypto risk (3 November 2022), NFTs (15 November 2022), DeFi (1 December 2022), and Growth in Crypto (6 December 2022).

The speed and volume of change in the crypto asset markets has accelerated across the globe, with established financial institutions increasingly entering the sector whilst regulators look to keep pace. Recent high-profile developments and market volatility have led to growing calls for scrutiny and regulatory controls. Navigating this fast paced environment, within a sometimes disjointed regulatory framework, can be challenging.
This virtual seminar series will provide insights on how the regulatory landscape is changing and discuss the future of crypto within the financial services sector. Set out below are details of our 2022 series.

The recent increase in value of cryptoassets as an investment class along with media coverage associated with high profile large investors has resulted in regulators warning investors to be cautious of the associated volatility risk. Against the background of these recent developments, we’re seeing increasing demand for legal advice in this area.