Directive (EU) 2022/2556 amending Directives 2009/65/EC, 2009/138/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU, 2014/65/EU, (EU) 2015/2366 and (EU) 2016/2341 as regards digital operational resilience for the financial sector

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Series Details L 333, Pages 153-163
Publication Date 27/12/2022
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Directive (EU) 2022/2556 - formally adopted by the co-legislators on 14 December 2022 - introducing amendments to Directive 2009/65/EC, Directive 2009/138/EC, Directive 2011/61/EU, Directive 2013/36/EU, Directive 2014/59/EU, Directive 2014/65/EU, Directive (EU) 2015/2366 and Directive (EU) 2016/2341 as regards digital operational resilience for the financial sector. This is also known as the FinTech Amending Directive. This is a text with EEA relevance.

Further information:

This Directive is part of a package of measures seeking to further enable and support the potential of digital finance in terms of innovation and competition while mitigating the risks. It establishes a temporary exemption for multilateral trading facilities; it also amends or clarifies certain provisions in existing EU financial services directives.

The draft law was tabled by the European Commission on 24 September 2020 as part of its Digital Finance Package, which also included a Communication setting out a Digital Finance Strategy for the EU. It accompanied the draft Digital Operational Resilience Act (DORA). The Council of the European Union adopted its general approach on 24 November 2021. The plenary of the European Parliament endorsed a negotiating position on 7 December. A provisional agreement between the co-legislators on a compromise text for this file was reached on 10 May 2022. This was formally endorsed by the Parliament on 10 November and by the Council on 28 November. The Act was signed by the co-legislators on 14 December 2022 and published in the Official Journal on 27 December 2022.

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Commentary and Analysis
EPRS: At a Glance, November 2022: Amending digital operational requirements in financial services legislation

EUR-LEX: COM(2020)596: Proposal for a Directive amending Directives 2006/43/EC, 2009/65/EC, 2009/138/EU, 2011/61/EU, EU/2013/36, 2014/65/EU, (EU) 2015/2366 and EU/2016/2341
EUR-LEX: SWD(2020)203: Staff Working Document accompanying the Proposal - Impact Assessment Report
EUR-LEX: SWD(2020)204: Staff Working Document accompanying the Proposal - Executive Summary of the Impact Assessment Report
European Parliament: Legislative Observatory: Procedure File for Proposal on Digital Finance: amending Directive regarding Digital Operational Resilience requirements (2020/0268(COD))
European Parliament: Legislative Train Schedule: Fintech Amending Directive: Temporary exemption for multilateral trading facilities (MTFs) and amendment of certain EU financial services directives
European Commission: Publications: Digital Finance Package
European Commission: DG Financial Stability, Financial Services and Capital Markets Union: Digital finance
General Secretariat of the Council: Policies: Digital Finance
European Commission: Press Release, 24/09/2020: Digital Finance Package: Commission sets out new, ambitious approach to encourage responsible innovation to benefit consumers and businesses

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