Regulatory Intelligence

Euro area trade deficit widens to €7.8 bn in May 2026

In May 2026, the euro area recorded a €7.8 billion deficit in trade in goods with the rest of the world, a sharp reversal from a €15.0 billion surplus in May 2025. The deterioration was driven by a widening energy deficit and reduced surpluses in machinery, vehicles, and chemicals. EU trade balance also worsened, posting a €12.1 billion deficit.

CSSF Notifications to EEA Competent Authorities: June 2025–June 2026

The CSSF has published monthly statistics on notifications sent to competent authorities of other EEA Member States from June 2025 to June 2026. The data covers prospectuses and base prospectuses, with notable peaks in May 2026 (67 notifications) and June 2025 (34). The publication provides transparency on cross-border regulatory cooperation under the Prospectus Regulation.

EU Council Implementing Regulation 2026/1779: New Sanctions Against Ukraine Territorial Integrity Violations

The Council of the European Union adopted Implementing Regulation (EU) 2026/1779 on 17 July 2026, updating the list of persons and entities subject to restrictive measures under Regulation (EU) No 269/2014 concerning actions undermining Ukraine's territorial integrity. The regulation, published by the CSSF on 20 July 2026, imposes asset freezes and travel bans on newly designated individuals and entities. Financial institutions must immediately screen their clients and transactions against the updated sanctions list.

EIOPA Publishes Factsheet on Insurers’ Private Credit and Equity Exposures

EIOPA has released a factsheet detailing European (re)insurers’ exposures to private credit and private equity, which totalled €1.185 trillion (11% of total assets) at end-2025. The document provides breakdowns by asset type, issuance country, and line of business, offering a foundation for further regulatory analysis.

New Proportionality Regime for Insurance and Reinsurance Undertakings Effective 30 January 2027

As part of the Solvency II review, a new proportionality regime for insurance and reinsurance undertakings will enter into application on 30 January 2027. The French Prudential Supervision and Resolution Authority (ACPR) has published an instruction and a notice on proportionality, as well as an instruction on the management plan, to clarify the framework and conditions of application.

Council Agrees Position on EU Migration, Border & Security Funding 2028-2034

The Council of the EU has agreed its negotiating position on the next Multiannual Financial Framework (MFF) for migration, border management, and internal security for 2028-2034. This sets the stage for negotiations with the European Parliament on the future funding of these policy areas.

Council Regulation (EU) 2026/1805 Amending Russia Sanctions Regime

The Council of the European Union adopted Regulation (EU) 2026/1805 on 16 July 2026, amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine. The CSSF has published this regulation on its website, highlighting its relevance for financial crime compliance. Financial institutions must review and update their sanctions screening and compliance procedures accordingly.