On 25 October 2016, the European Commission ("Commission") adopted its 2017 Work Programme. The Commission proposes 21 key initiatives for 2017 to implement ten priorities for the year. The Commission proposes to:
- Follow up on the call for evidence on the cumulative impact of the EU regulatory framework for financial services, which gathered feedback on areas including the extent to which the regulatory framework has caused excessive compliance costs and burdens and to identify areas giving rise to duplicative or unhelpful reporting and disclosure obligations.
- Present a mid-term review of the capital markets union action plan identifying obstacles and any additional measures required (in Q2 of 2017). The Commission notes that the adoption of the Prospectus Regulation is a priority pending proposal and needs to be accelerated.
- Present a new company law initiative to facilitate the use of digital technologies throughout a company's lifecycle and cross-border mergers and divisions (in Q3-4 of 2017).
Put forward additional delegated legislation to facilitate funding by institutional investors of corporate entities and groups which carry out infrastructure activities.
The Commission's communication can be accessed at:
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