On November 23, 2016, the European Commission published a Communication to the European Parliament, the Council of the European Union on the follow-up to its Call for Evidence on the EU regulatory framework for financial services. The European Commission launched its Call for Evidence on the EU regulatory framework in September 2015 alongside its Action Plan for a Capital Markets Union. The Call for Evidence sought feedback on unnecessary regulatory burdens, inconsistencies, gaps and unintended consequences of EU financial services legislation. Following an analysis of the feedback received, the Commission has concluded that targeted action is required to address some of the shortcomings that have been highlighted. Where possible, the Commission has integrated the feedback into existing initiatives such as the review of the Capital Requirements Regulation and EMIR or the future development of the CMU but there are some instances where new policy action will be needed. The Communication includes an action plan indicating how the issues are intended to be addressed.
The Communication is available at: http://ec.europa.eu/transparency/regdoc/rep/1/2016/EN/COM-2016-855-F1-EN-MAIN.PDF .
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