Loi de Finances pour 2025

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.

In late October, the European Commission ("Commission") shared a Proposal simplifying certain reporting obligations and reducing some unnecessary administrative burden of the European...

The European Commission's (Commission) clarifications, published on ESMA's Q&A tool in December 2025, deliver the most authoritative guidance to date on the operation of ELTIF 2.0 and the ELTIF RTS.

France's updated military programming law adds €36 billion to defence spending through 2030, creating significant investment opportunities in munitions, drones, space, AI, and electronic warfare systems. However, US and non-EU investors face complex regulatory hurdles including French foreign investment screening, European eligibility requirements, export controls, and ITAR-free design mandates that fundamentally reshape how transatlantic defence investments must be structured.

On April 9, 2026, the French legislator published Ordinance No. 2026-255 of April 8, 2026 transposing Directive (EU) 2024/1619 (CRD VI) into French law (available here—French only)...

The European Commission has released a comprehensive report outlining its reform agenda to address fragmentation in the EU banking market, simplify regulatory frameworks, and strengthen the international competitiveness...

CRD VI introduces new EU-wide branch requirements for non-EU lenders providing banking services to European borrowers, with a critical July 2026 deadline approaching.

This comprehensive update examines recent European and French regulatory developments in banking supervision, consumer credit protection, and financial markets, including the EBA's revised SREP Guidelines, France's transposition of CRD6, and significant reforms to payment procedures and consumer protection mechanisms. The analysis covers new prudential requirements for ESG risk management, enhanced authentication obligations for payment transactions, and legislative changes affecting tax credits for green i