Domestic

SIU/SIAs: BPFI recommendations for an Irish savings and investment account framework

On 13 May 2026, the Banking and Payments Federation Ireland (BPFI) published a report setting out recommendations for the design and implementation of the proposed Irish savings and investment account framework, aimed at supporting retail participation in EU capital markets. The report emphasises a consumer‑focused approach, recommending simple, accessible account design with flexible access and the ability to invest regularly, alongside a broad range of investment options including UCITS, listed securities and ETFs. It also highlights the importance of clear tax incentives, prudent contribution limits and a coordinated financial education strategy.

European

MiCAR: Single Rulebook Q&As - passporting procedure for credit institutions and electronic money institutions issuing tokens under MiCAR

On 8 May 2026, the European Banking Authority (EBA) updated its Single Rulebook Q&As relating to MiCAR providing clarifications on key interpretative issues relating to passporting, the qualification of crypto‑asset services, and the publication of white papers. In relation to passporting, the EBA confirms that credit institutions and e‑money institutions issuing asset‑referenced tokens or e‑money tokens on a cross‑border basis remain subject to the existing passporting frameworks under CRD and the E-Money Directive (Directive 2009/110/EC), respectively. This reflects amendments introduced by MiCAR, including the addition of e‑money token issuance as an activity subject to mutual recognition under CRD, and clarifies that no separate MiCAR passporting regime applies to these entities.

AMLA's draft RTS on cooperation between home and host supervisors of cross-border groups of obliged

On 11 May 2026, the Anti-Money Laundering Authority (AMLA) launched a consultation on draft Regulatory Technical Standards (RTS) establishing a framework for cooperation between home and host supervisors of cross‑border groups of obliged entities under Article 46(4) of AMLD6.

MiCAR: European Commission opens two consultations on MiCAR

On 20 May 2026, the European Commission launched two consultations on MiCAR, including a targeted consultation for industry stakeholders and a public consultation. The consultations aim to assess whether MiCAR remains fit for purpose in light of its initial implementation and evolving market and policy developments. The feedback to the targeted consultation will inform a report on the application of MiCAR and developments in crypto‑asset markets, which the Commission is required to prepare under Articles 140 and 142 of MiCAR, and may support future legislative amendments. The public consultation aims to gather high‑level information on respondents’ awareness, experience and views on digital assets and related services.

MiCAR: Single Rulebook Q&As updated – EMT issuers and scope of application of AML requirements

On 22 May 2026, the EBA updated its Single Rulebook Q&As for MiCAR to clarify the application of anti‑money laundering requirements to issuers of e‑money tokens. The Q&A confirms that credit institutions and e‑money institutions issuing e‑money tokens are subject to customer due diligence obligations under the EU’s AML framework, as they are “obliged entities” under the framework.

Date published: 31 May 2026

This publication provides an overview of certain legal and regulatory developments that may be of interest to certain entities. It does not purport to provide analysis of law or legal advice and is strictly for information purposes only.