Amendment of Regulation (EU) No 909/2014 as regards a shorter settlement cycle in the Union
A proposed EU law. Parliament and the Council must agree on the same text: Parliament adopts its position, then negotiates with the Council.
Where it stands: Completed: published in the Official Journal on 14 October 2025 and now EU law.
- ✓ Referred to committee 10 March 2025
- ✓ Committee work Report adopted 20 May 2025
- ✓ Tabled for plenary 20 May 2025
- ✓ Plenary vote Adopted 10 September 2025
- ✓ Negotiations with the Council Trilogue 18 June 2025
- ✓ Published as law 14 October 2025
How a file moves through Parliament
A file is referred to one lead committee (others may give an opinion). Its rapporteur writes a draft report, committee members table amendments, and the committee votes to adopt the report. The report is then tabled for all MEPs; political groups can table further amendments, which are voted on before the final vote in plenary. For a law, Parliament’s adopted text is its first-reading position; Parliament and the Council then negotiate a common text (trilogues) which both must approve before it is published as law.
Who is working on it
- Lead committee
- ECON — Economic and Monetary Affairs
- Rapporteur
- Johan VAN OVERTVELDT ECR
- Shadow rapporteurs
- Fulvio MARTUSCIELLO PPERené REPASI S&DAuke ZIJLSTRA PfEStéphanie YON-COURTIN RenewKira Marie PETER-HANSEN Verts/ALEJussi SARAMO The Left
The rapporteur drafts and negotiates the text for the lead committee; each other political group names a shadow rapporteur to follow the file.
The text, version by version
Latest Tabled for plenary → Adopted by Parliament: The versions differ only in formal points: the document header is updated to reflect the final legislative act and the recitals are replaced by the adopted text reference. see the changes →
Committee draft → Tabled for plenary: The new version is the committee report containing the full legislative text, replacing the draft report's explanatory motion. It sets the application date to 11 October 2027 and adds exemptions for certain securities financing transactions from the T+1 requirement. see the changes →
Newest version first. Open a version to read it in full. “What changed” shows the differences paragraph by paragraph; ✦ lines are AI-written from the texts themselves.
Timeline
- Outcome
- 14 October 2025 Published in the Official Journal
The act is now EU law.
- 8 October 2025 Signature
- Plenary stage
- 10 September 2025 Plenary voteAdopted Adopted by an overwhelming majorityFor 612 Against 7 Abstained 45
Final vote on the provisional agreement at 14:20 · 92% of votes cast in favour · every MEP’s position →
- 10 September 2025 Plenary decision
- Plenary stage
- 3 September – 5 September 2025 2 amendments tabled for the plenary vote
Groups propose changes to the tabled text; each is voted on before the final vote.
- 15 July 2025 Committee approve provisional agreement
- Negotiations with the Council
- 18 June 2025 Trilogue meeting
Negotiation between Parliament, Council and Commission on a common text.
- 22 May 2025 Plenary endorsed the mandate to negotiate with the Council
Parliament’s negotiators can now seek a compromise text with the Council (a "trilogue").
- Plenary stage
- 20 May 2025 Report tabled for plenary
This is the text all MEPs vote on. Political groups can still table amendments to it.
- Committee stage
- 20 May 2025 Committee vote: report adopted
ECON (Economic and Monetary Affairs) voted on the amendments and adopted the report that goes to plenary.
- 30 April 2025 Amendments tabled in committee
Members of ECON (Economic and Monetary Affairs) proposed changes to the draft.
- 10 April 2025 Draft report published
The rapporteur’s first text in ECON (Economic and Monetary Affairs). Members can table amendments before the committee votes.
- 10 March 2025 Referred to the ECON (Economic and Monetary Affairs) committee
The lead committee prepares Parliament’s report.