1. Why is the fourth Omnibus being proposed?
The recent Competitiveness Compass and Mario Draghis report highlight the need to strengthen Europes competitiveness and prosperity. Simplified regulations help companies grow and invest in green and digital transitions. The Commission introduces a Single Market strategy to remove trade barriers and reduce administrative burdens.
The proposals include postponing sustainability requirements for batteries to give companies more flexibility. Measures also support small mid-cap companies (SMCs) by reducing administrative burdens and accelerating digital regulation.
2. Why a new definition for small mid-cap companies?
SMCs are currently treated as large companies. The new definition recognizes SMCs as a separate category so they can benefit from a supportive environment during growth. This change follows recommendations from the Letta and Draghi reports and enhances European competitiveness.
3. What benefits are extended to small mid-cap companies?
The Commission proposes to extend existing supportive measures for SMEs to SMCs. Examples include simplifying GDPR requirements and extending prospectus simplifications. These changes help reduce costs and administrative burdens.
4. How does this omnibus contribute to the 25% target to reduce administrative burden?
The omnibus amends various legislations to alleviate burdens for SMCs. The estimated annual savings for companies are between 79.2 and 93.3 million euros, contributing to the 25% target.
5. Which legislations are being amended today?
- General Data Protection Regulation (GDPR)
- Regulation on protection against dumped and subsidized imports
- Markets in Financial Instruments Directive
- Prospectus Regulation
- Batteries Regulation
- Directive on Critical Entities Resilience
- Fluorinated Greenhouse Gas Regulation