The Final Working Party Before the Irish Presidency: What the June 15 Meeting Means for FIDA

On June 15, 2026, the Working Party of Financial Counsellors meets in Brussels for what is effectively the final substantive meeting under the Cyprus Presidency. Ireland takes over the EU Council Presidency on July 1 — and with it, responsibility for advancing some of the EU's most consequential financial regulation files, including FIDA.

This is not a procedural formality. The decisions made — or not made — in the final weeks of the Cyprus Presidency will shape the starting conditions for the Irish Presidency's approach to FIDA and determine the implementation timeline for thousands of financial institutions across the EU.

Where FIDA Stands Right Now

FIDA — the Financial Data Access Regulation — has been in trilogue since 2024. Progress has been slow. A scheduled Working Party meeting in April 2026 was cancelled with no rescheduled date announced. Industry monitoring groups have noted that a resumption of trilogue under the Cyprus Presidency is considered unlikely.

At the same time, the European Commission has signalled its ambition to support political agreement on FIDA in 2026. The Jacques Delors Institute has explicitly listed FIDA as one of the key financial files on Ireland's EU Presidency agenda. The picture entering June 15 is therefore mixed: FIDA negotiations stalled, but institutional commitment to resolution intact.

What the June 15 Meeting Could Signal

Whether FIDA is formally on the June 15 agenda has not been confirmed from public sources. But even without a formal FIDA agenda item, the meeting carries significance.

If FIDA appears on the agenda, any Cyprus final compromise text — even partial — would give the Irish Presidency a foundation to build from. The key outstanding issues in FIDA trilogue include the scope of data categories, FISP third-country access rights, FDSS governance, and the phasing of compliance obligations.

If FIDA does not appear on the agenda, this confirms the clean handover scenario — Ireland receives the FIDA file without a Cyprus compromise text. Ireland then faces the choice of whether to restart trilogue actively in July or wait until September (Eurofi Dublin, September 16-18) to build the political consensus for a substantive push.

Why This Matters for Infrastructure Builders

Financial institutions and FISPs building FIDA compliance infrastructure are watching the political timeline for one reason: implementation periods are defined relative to FIDA's entry into force, which depends on trilogue completion, political agreement, and OJ publication.

The difference between a Cyprus breakthrough in June and a September Irish Presidency restart is approximately six months of implementation runway. For organisations with long infrastructure build timelines — banks designing FDSS-compliant APIs, FISPs building their data access architecture, infrastructure providers seeking FDSS certification — a six-month difference is not marginal. It is the difference between orderly build and emergency remediation.

InfraFIDA's position is unchanged: build for the earliest plausible implementation timeline. Do not plan for delays that may not materialise.

What to Watch Between June 15 and July 1

The June 15 Working Party meeting will not be publicly streamed. Outcomes typically emerge through Council of the EU press releases, Cyprus Presidency communications, and signals from key stakeholders on LinkedIn. Nicola Breyer (FDP MEP, FIDA rapporteur) and Mathieu Gitton (French financial services policy commentator) often post within 24-48 hours of Working Party outcomes.

The Irish Presidency priorities document — expected by June 25, before the July 1 handover — will also be a critical signal. If FIDA is named in the Irish programme, this is the strongest possible indication of an active Irish Presidency push on the file. InfraFIDA will publish analysis within 24 hours of either the June 15 outcomes or the Irish Presidency programme publication.

Preparing Now, Regardless of the Outcome

Regardless of what happens at the June 15 Working Party, the infrastructure reality for FIDA compliance is the same: the organisations that have started their FDSS integration design and FISP authorisation preparation now will be better positioned than those waiting for political certainty.

InfraFIDA provides FIDA-compliant data sharing infrastructure for Data Holders and FISPs across the EU. If you are a bank, insurance company, investment firm, or fintech preparing for FIDA compliance and have not yet assessed your infrastructure readiness, the time to start is now. Contact us at info@infrafida.com.