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ARTICLE · 08 JULY 2026

EU Market Integration And Supervision Package

A&O Shearman
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The EU Market Integration and Supervision Package represents a comprehensive overhaul of European financial services regulation, amending 19 separate pieces of legislation including MiFIR, MiFID II, EMIR, and MiCAR. Born from the 2024 Draghi Report and 2025 Competitiveness Compass, this sweeping reform seeks to address regulatory fragmentation across Member States while fostering deeper capital market integration and broader retail investor participation.

European UnionFinance and Banking
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Following its publication on December 4, 2025, market participants, supervisors and legislators have been analyzing the proposals under the EU Market Integration and Supervision Package (MISP). The package’s amendments span 19 separate pieces of EU legislation: 

MASTER REGULATION

  • MiFIR (Regulation (EU) 600/2014)
  • ESMA Regulation (Regulation (EU) 1095/2010)
  • Cross-Border Distribution of Funds Regulation (CBDFR) (Regulation (EU) 2019/1156)
  • CSDR (Regulation (EU) 909/2014)
  • EMIR (Regulation (EU) 648/2012)
  • CCP Recovery and Resolution Regulation (Regulation (EU) 2021/23)
  • Distributed Ledger Technology Pilot Regime (DLTPR) (Regulation (EU) 2022/858)
  • MICAR Regulation (Regulation (EU) 2023/1114)

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