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Roadmap of Expected EU Developments Possible Legislative Proposals
Key Implementation Dates
in 2020/22 & Securities Lending European Commission Strategies
Croatian Presidency German Presidency PT, SL Presidencies FR, CZ Presidencies
2020 2021 2022
Q1 Q2 Q3 Q4
European Commission
legislative proposal
on cybersecurity/
operational resilience in
European Commission financial services and a
legislative proposal to legislative framework
implement Basel IV in for cryptocurrencies
the EU via changes to the Q3 2020
bank Capital Requirements
Regulation (CRR)
June 2020
European Commission
legislative proposal
reviewing MiFID2/R
Q3 2020
Ongoing negotiations on a Financial Transaction Tax (in 10 EU Member States) Ongoing negotiations on a Financial Transaction Tax (in 10 EU Member States)
Not determined, negotiations ongoing Not determined, negotiations ongoing
Application of the SFTR
Reporting Requirement
(CSDs & CCPs) Application of CSDR’s
11 Jul 2020 Settlement Discipline Regime
Application of the SFTR 13 Sep 2020 EC legislative proposal to review the
(possibly delayed until Nov 20)
Reporting Requirement Market Abuse Regulation (MAR)
(Credit Institutions and European Commission Possibly in 2021
investment firms + all third Fintech strategy SFTR review
country regulated firms) Q3 2020 Application of the SFTR January 2022
11 Apr 2020 Reporting Requirement Possible legislative review of the UCITS Directive
(all other financial Possibly in 2021
counterparties)
European Commission 11 Oct 2020 Money Markets Funds (MMF) Regulation Review
Sustainable Finance strategy July 2022
Q3 2020
Application of the SFTR Reporting Requirement
(Non-financial counterparties)
11 Jan 2021
European Commission
Capital Markets
Union Action Plan
Q2/Q3 2020
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