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Council Presidency compromise texts on MISP

By Simon Lovegrove (UK) & Floortje Nagelkerke (NL) on October 6, 2026
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On 5 October 2026, the Council of the EU published a note from the Presidency to the Permanent Representatives Committee (COREPER) attaching the Presidency compromise texts of the three legislative proposals forming the market integration and supervision package (MISP).

The note states that the Presidency’s compromise text maintains the bulk of the European Commission’s proposal and delivers on the core objectives while reflecting significant negotiations and trade-offs. It also adds that European Securities and Markets Authority funding and the definition of Significant Trading Venues require decision at the political level before the overall package can be agreed.

An Annex to the note sets out more detail on key elements of the package. Reflecting Member States’ views, a compromise text across the entire package is now presented for final agreement:

  • Proposal for a Regulation of the European Parliament and of the Council on settlement finality and repealing Directive 98/26/EC and amending Directive 2002/47/EC on financial collateral arrangements
  • Proposal for a Directive of the European Parliament and of the Council amending Directives 2009/65/EC, 2011/61/EU and 2014/65/EU as regards the further development of capital market integration and supervision within the Union
  • Proposal for a Regulation of the European Parliament and of the Council amending Regulations (EU) No 1095/2010, No 648/2012, No 600/2014, No 909/2014, 2015/2365, 2019/1156, 2021/23, 2022/858, 2023/1114, No 1060/2009, 2016/1011, 2017/2402, 2023/2631 and 2024/3005 as regards the further development of capital market integration and supervision within the Union
Photo of Simon Lovegrove (UK) Simon Lovegrove (UK)
Read more about Simon Lovegrove (UK)Email
Photo of Floortje Nagelkerke (NL) Floortje Nagelkerke (NL)
Read more about Floortje Nagelkerke (NL)Email
  • Posted in:
    Banking, Finance and Securities
  • Blog:
    Global Regulation Tomorrow
  • Organization:
    Norton Rose Fulbright
  • Article: View Original Source

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