On 4 December 2025, the European Commission published three legislative texts, known collectively as the "Market Integration Package" (MIP). The MIP legislation forms part of the EU's wider Savings and Investments Union initiative, which in turn is a product of the EU's current drive to improve competitiveness and encourage growth.
The MIP proposals, if enacted, would make a large number of changes across a wide range of EU financial services legislation. In this briefing, Travers Smith's Financial Services and Markets team have focused on the implications for asset managers of the proposed amendments to AIFMD and the UCITS Directive, and on the impact of the Settlement Finality Regulation proposals for financial market infrastructures.
