As part of its scrutiny work, on 11 November 2025, the IMCO Committee held an exchange with Commission representatives on ongoing investigations into consumer safety issues and the removal of illegal products on the SHEIN online marketplace. SHEIN declined the Committee’s invitation, and Members noted that full cooperation from major platforms is essential for effective oversight and enforcement of the relevant EU legislation.The Commission updated Members on ongoing enforcement under the Digital Services Act (DSA). SHEIN, listed as a Very Large Online Platform, has received two requests for information covering interface design, protection of minors online, recommendation systems, trader traceability, compliance by design, illegal content and goods, and data access. Investigations continue, though no formal proceedings have begun. The Commission is assessing whether the issues constitute a systemic infringement under the DSA.The Commission also reported on the Consumer Protection Cooperation (CPC) Network's actions. On 26 May 2025, SHEIN was notified of suspected breaches of EU consumer law, including fake discounts, pressure-selling, deceptive product labels, misleading sustainability claims and hidden contact details. After requesting extra time, SHEIN submitted proposals for commitments, now under review.Members voiced concern over persistent non-compliance and called for faster, and firmer enforcement.Source : © European Union, 2025 - EP

Members will debate the provisional agreement on the 2026 EU Budget found by the negotiators from the European Parliament and the Council last Saturday. The deal sets an overall level of appropriations of € 192.8 billion in commitments and € 190.1 billion in payments. It restores cuts initially proposed by the Council and adds funding focusing on programmes and policies aimed at improving people's lives, boosting competitiveness, and addressing defence challenges. In particular: € 95 million for EU external action, including € 35 million for humanitarian aid; € 23.5 for cross-border infrastructure; € 20 million for research (Horizon Europe); € 20 million for border management and military mobility; € 10 million for disaster response (RescEU); € 10 million for environment and climate action (LIFE), and reinforcements for Erasmus+ and health programs. The European Agricultural Guarantee Fund has been increased by €105 million thanks to carried-over funds.The Parliament will vote at the November Strasbourg session. EU budget 2026 procedurePress releaseSource : © European Union, 2025 - EP

On Monday, 17 November 2025, the Committee on Economic and Monetary Affairs (ECON) will hold an exchange of views with Piero Cipollone, Member of the ECB Executive Board, to discuss the latest developments in the digital euro project.This exchange follows the publication of the ECB's closing progress report on the preparation phase of the digital euro project on 30 October 2025.According to ECB's closing progress report, the digital euro project is currently concluding its two-year preparation phase. The ECB confirmed that key objectives, including a draft scheme rulebook, selection of potential providers for platform and infrastructure, and experimentation and user research, have been achieved, and the project now moves to a next phase, focusing on building technical capacity and piloting core functionalities.Source : © European Union, 2025 - EP

On 17 November 2025, the Committee on Economic and Monetary Affairs (ECON) will hold its annual hearing with the Chairpersons of the ESAs, in accordance with Article 3 of the EBA, EIOPA and ESMA Regulations, namely:• Petra Hielkema, Chairperson of the European Insurance and Occupational Pensions Authority (EIOPA) as well as Chairperson of the Joint Committee of the European Supervisory Authorities (ESAs) and, in that capacity, second Vice-Chairperson of the European Systemic Risk Board (ESRB); • José Manuel Campa, Chairperson of the European Banking Authority (EBA); • Verena Ross, Chairperson of the European Securities and Markets Authority (ESMA).The discussion is expected to focus on the Authorities' experience throughout the previous year, including their role in rulemaking, supervision and coordination, as well as the expectations regarding future development and key challenges in the context of their respective budgetary and resource needs.Source : © European Union, 2025 - EP

The standing BUDG-ECON working group on the scrutiny of the implementation of the RRF undertook its second fact-finding mission to Rome. The delegation met with Ministries' officials, the Italian Court of Audit, Members of the Italian Parliament, the Financial Police and various stakeholders, including local and regional authorities, business and workers associations.Location : Rome, ItalyLink to the mission report Source : © European Union, 2025 - EP

On 17 and 20 November 2025, the Committee on Budgetary Control will hold hearings for the 2024 Commission discharge related to the implementation of the EU Budget, with two Commissioners invited.The hearings concern the following topics and Commissioners:17 November: Migration and border management (MFF Heading 4), with Magnus Brunner, Commissioner for Internal Affairs and Migration, in the presence of ECA reporting Member, Marek Opioła.20 November: Natural resources and environment (MFF Heading 3), with Christophe Hansen, Commissioner for Agriculture and Food, in the presence of ECA reporting member Klaus- Heiner Lehne.These hearings are an important step in the discharge procedure for the financial year 2024, where the Commission's budget implementation, policies and activities in 2024 are evaluated, culminating in the political decision whether to grant discharge to the Commission for the financial year 2024 or not. The European Court of Auditors will give a presentation of their audit findings in each hearing, after which the Commissioner will give an opening statement, followed by a Q&A session with the Members of the Committee. Rapporteur: Daniel Freund (The Greens)2024 Commission DischargeSource : © European Union, 2025 - EP

On 17 November 2025, the Committee on Budgetary Control will hold a hearing with Kaja Kallas, High Representative of the Union for Foreign Affairs and Security Policy / Vice-President of the European Commission, in the context of the discharge concerning the implementation of the budget of the European External Action Service (EEAS) for 2024. It will be in the presence of ECA reporting Member for EU administrative expenditure Ildikó Gáll-Pelcz. Rapporteur: Pasquale Tridico (The Left)Discharge 2024: Other InstitutionsSource : © European Union, 2025 - EP

On 20 November 2025, in the context of the discharge to the European Parliament for the financial year 2024, CONT Members will exchange views with five Directors-General invited.In the morning the following Directorates-General will participate in the exchange of views:Directorate-General for Personnel (DG PERS);Directorate-General for Infrastructure and Logistics (DG INLO);Directorate-General for Finance (DG FINS).In the afternoon:Directorate-General for the Presidency (DG PRES);Directorate-General for Information Technologies and Cybersecurity (DG ITEC).Rapporteur: Gerben-Jan GERBRANDY (Renew)2024 EP DischargeSource : © European Union, 2025 - EP

On 20 November 2025, the Budgetary Control Committee will hold a hearing and vote on the nomination of Mr Daniel Caspary as the German Member of the European Court of Auditors (ECA).Following the nomination made by the Government of Germany, the Budgetary Control Committee has extended an invitation to the nominee to attend a hearing. During the hearing, CONT Members will pose questions and evaluate his credentials in his capacity as nominee to the ECA, in particular in view of the requirements laid down in Article 286(1) of the Treaty on the Functioning of the European Union. CONT will give an opinion for the appointment of the candidate in the form of a recommendation to the Plenary. Appointment of the Members of the European Court of Auditors is defined in the Rules of Procedures of the European Parliament under Rule 129.Rapporteur: José Cepeda (S&D)2025/0809(NLE) Partial renewal of Members of the Court of Auditors - DE nomineeSource : © European Union, 2025 - EP

The Commission proposed to adopt the decision to mobilise the European Globalisation Adjustment Fund for Displaced Workers (EGF) following the application from Sweden relating to 6 486 displaced workers whose activity had ceased in Northvolt AB, after the company declared bankruptcy in March 2025. The Members of the BUDG Committee will vote on the decision regarding mobilisation of EUR 8 526 322 for Sweden, covering 60% of the total costs associated with the proposed reintegration measures.The rapporteur for the file is Aura Salla (EPP, Finland). Appliactions - European Globalisation Adjustment FundProcedure fileSource : © European Union, 2025 - EP

Investment Management Forum 6-7 November 2025, closing remarks by Micaela Forelli, EFAMA vice-President Body As we gather at the close of this Forum, one thing is clear: the conversations we have had over these two days are not just about today’s challenges—they are about shaping the future of European capital markets.  It has been a privilege to share these two days with such an engaged and insightful group. Thank you for your active participation and the energy you brought to every discussion.  I want to acknowledge the incredible work of our organisers – the EFAMA team – and extend thanks to our sponsors and our media partners. Thank you in particular to the speakers and all the policymakers and the authorities who joined us with their interventions. This Forum would not have been possible without your dedication. Thank you for helping us bring this important dialogue to life.  As we conclude, I would like to share three key takeaways that resonated with me:  The urgency of retail investor participationEmpowering retail investors is not just a policy goal – it is a necessity for Europe’s long-term competitiveness. Financial literacy, tax incentives, and simplified investor journeys must remain at the heart of our efforts.  Regulation must enable, not hinderSimplification must mean better, not less. We need clarity over complexity and rules that support innovation and investor confidence. Regulation should be a catalyst for progress, not a barrier.  Digital transformation and innovationAI, tokenisation, and initiatives like the Scale Europe Fund and the Digital Fitness Check will shape the future of asset management. Europe’s leadership in digital finance depends on our ability to regulate with foresight and flexibility. Let us not lose momentum. The conversations we’ve had here must translate into action – bold, coordinated, and forward-looking. These events are a fantastic and unique opportunity for engagement between policymakers, regulators and the industry.  EFAMA – the voice of the European Asset Management Industry - remains committed to driving the Savings & Investments Union, advancing sustainable finance, and embracing digital innovation.  EFAMA will continue to make itself strong together with its members in front of the European Union and the authorities in these critical areas.  As John Maynard Keynes – the economist whose ideas fundamentally changed macroeconomics and economic policies of governments - once said:“The difficulty lies not so much in developing new ideas as in escaping from old ones.”Progress demands courage – not only to imagine new futures, but to let go of outdated frameworks. This Forum has shown that our industry is ready to lead that change.  Thank you once again for your insights, your energy, and your commitment. We look forward to continuing this journey together.  Giulia Gardois Fri, 11/07/2025 - 14:54 Image News type Viewpoint

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Investment Management Forum 6-7 November 2025, welcome remarks by Samantha Ricciardi, EFAMA President Body Good afternoon, ladies and gentlemen It is a great pleasure, and a true privilege, to welcome you to the 31st edition of the EFAMA Investment Management Forum, my first as President. On behalf of the entire EFAMA team, I want to thank our sponsors — Morningstar and Simmons & Simmons — and our media partners —L’AGEFI, Funds Europe, and Investment Officer— for their valued support. We are proud to bring you an inspiring program for the next two days; one that comes at a truly pivotal moment for Europe and for our industry. The European Commission is advancing its Savings and Investments Union Strategy, along with a regulatory simplification agenda, to strengthen Europe’s capital markets and boost economic competitiveness. This agenda could not be more timely. The Draghi Report reminded us that Europe’s competitiveness has been eroding — and that preserving our social model and strategic autonomy will require faster decisions, coordinated industrial policies, and massive investments. Recent geopolitical tensions have exposed Europe’s dependence on others for security, prompting the EU’s first-ever defense industrial strategy. At the same time, the road to net-zero emissions, the realities of demographic change, and the widening pension gap will demand unprecedented private capital. The conclusion is clear: To meet these challenges, Europe must mobilize private savings and build deeper, more integrated capital markets. And at the heart of that effort lies a simple truth: we need to turn more savings into productive investments by encouraging much greater retail participation. That’s why EFAMA strongly welcomes the Commission’s new Savings and Investment Accounts blueprint and Financial Literacy Strategy. Experience shows that well-designed investment accounts can make saving and investing part of everyday life — helping citizens overcome barriers and engage more confidently with capital markets. To succeed, these initiatives must be simple and supported by effective tax incentives. Linking accounts to favourable tax treatment, while keeping the investor journey straightforward, can make a real difference. Now, it’s up to Member States to bring these recommendations to life. Financial literacy is equally important. By improving it, we empower people to make informed decisions, and we build the confidence that drives participation. Another cornerstone of the Savings and Investments Union is the growth of pension assets. Expanding occupational and private pensions is the most effective way to scale retail investment and to address Europe’s looming pension gap. Today, one in five EU citizens already faces poverty in retirement. Without decisive action, that number will rise. The Commission’s upcoming Supplementary Pensions package is therefore a critical opportunity. One that Europe must get right. Automatic enrolment in workplace pensions should be the cornerstone. It has proven time and again to increase participation and long-term savings. Pension tracking systems can also help citizens understand their future entitlements and plan with confidence.And to deliver better long-term outcomes, we must promote life-cycle investment strategies that allow more equity exposure earlier in life. As always, adequate tax incentives will be essential to make supplementary pensions more attractive — and to reduce pressure on public systems. The upcoming asset management package, expected next month, is an opportunity to remove fragmentation and reduce costs in cross-border fund distribution. We fully support greater supervisory convergence and better data sharing. But adding new layers of centralised supervision would only create more complexity. ESMA already has the tools to ensure coherence.  What Europe truly needs is streamlined reporting and clearer, more predictable rules. The same principle applies to the Retail Investment Strategy. Instead of simplifying the investor experience, it risks adding unnecessary layers of complexity. The proposed Value for Money framework must be practical, grounded in market reality, built from the bottom up, not imposed from the top down.  And above all, investors need clarity, not more tests or paperwork. Because clarity builds confidence; and confidence drives participation. Simplification is just as essential in sustainable finance. The goal is not to do less, but to do better. We need a framework that provides investors with reliable data, gives companies predictable rules, and shows that sustainability and competitiveness can advance together. The Omnibus Simplification package and the SFDR review offer key opportunities to strike that balance — keeping high-quality, comparable information while easing unnecessary burdens. Clear categories and consistent terminology will help investors make informed, confident choices. Finally, we cannot talk about competitiveness without addressing digital transformation. Artificial Intelligence and Distributed Ledger Technologies are already reshaping our industry.  Used responsibly, they can enhance efficiency, improve outcomes for investors, and strengthen Europe’s global position. The Commission’s forthcoming Digital Fitness Check is a welcome step. It will assess how digital regulations — from the AI Act and DORA to MiFID and GDPR — interact, and how we can make them more coherent and innovation-friendly. If done well, this can remove unnecessary complexity, provide legal clarity, and create the conditions for Europe’s digital and financial sectors to thrive together. In closing, the message is simple and urgent: Europe cannot afford to stand still. To secure our future prosperity, we must turn savings into investments, regulation into enablers, and complexity into clarity. The asset management industry stands ready to partner with policymakers — to mobilise capital, drive innovation, and strengthen Europe’s competitiveness on the global stage. Thank you for your attention. Giulia Gardois Thu, 11/06/2025 - 12:10 Image News type Viewpoint

Rome, Thursday November 6th 2025 – A few days before the start of COP30 in Belém, Brazil, ReCommon launches its