The European capital markets landscape is entering a new phase.
On 4 December 2025, the European Commission unveiled its Market Integration Package (MIP): a broad and ambitious legislative initiative aiming to deepen EU capital markets, strengthen cross-border integration and reshape supervision, infrastructure and fund distribution across Europe.
To support our members in navigating these developments, we are pleased to share our new Spotlight Note “Overview of the European Commission’s 2025 Market Integration Package” prepared by our Legal & Regulatory Watch Working Group.
This document provides a clear, structured overview of:
- the key elements of the package,
- the proposed shift towards stronger EU-level supervision via ESMA,
- the implications for trading, post-trading infrastructures and DLT-based markets,
- the expected impact on asset management, fund distribution and cross-border activity,
- and the main challenges and points to watch as the legislative process unfolds.
With its focus on capital markets activities, this note is designed as a practical and accessible tool to help market participants understand what is at stake and prepare for the next steps.
LuxCMA will continue to closely monitor the negotiations at EU level and to contribute to a balanced, informed and proportionate discussion as the new framework takes shape.