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Politico I RIS BLOCKING MOVE FAILS - 24.04.2024

RIS BLOCKING MOVE FAILS: The S&D and Greens’ attempt to block the more controversial elements of the retail investment rules package failed in a plenary vote, with 352 MEPs voting in favor of lead lawmaker Stéphanie Yon-Courtin’s text, to 230 against with 21 abstaining. The next formulation of the parliament will pick up negotiations with governments on the file once EU countries agree their position.   

Some MEPs aren’t pleased: Claude Gruffat, a shadow rapporteur on the proposals for the Greens, told MFS that Yon-Courtin “actually stands with the banking industry” and criticized her uniting with far-right lawmakers to find a majority on “a text that dismantles the European Commission’s proposal” — a move he called “a complete disaster.”   

And neither is Yon-Courtin: Although she said the text has “many achievements,” the French Renew MEP lashed out at the socialists, who she says walked away from negotiations in a “political posture” which “disrupted the legislative process, to the detriment of consumers.”   

Elsewhere in plenary: The trilogue deals on insurance rules under Solvency II and IRRD and the parliament’s stance on a new payment services regulation and on updates to existing payments rules were all approved.

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