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Reform of the EU Securitisation Framework—Part 5: Amendments to the Due Diligence and Risk Retention Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

Reform of the EU Securitisation Framework—Part 4: Amendments to the Transparency Regime Under Article 7 of the EU Securitisation...

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

Reform of the EU Securitisation Framework—Part 3: "Resilient Securitisations"

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

EU Standards for Threat-Led Penetration Testing: New Cyber Compliance Imperatives for Financial Institutions

The EU has introduced Delegated Regulation (EU) 2025/1190, establishing the first harmonized standards for threat-led penetration testing ("TLPT") across the financial sector. The regulation aims to strengthen the cyber...more

Crypto Assets, CASPS, and AML/CFT Compliance: The New European Regulatory Landscape Under MiCA and AMLR

The rise of crypto assets and decentralized finance has challenged traditional regulatory frameworks, particularly in the area of anti-money laundering and countering the financing of terrorism ("AML/CFT")....more

Direct Supervisory Powers of the New European Anti-Money Laundering Authority

The European Union Anti-Money Laundering ("AML") package includes Regulation (EU) 2024/1620 of the European Parliament and of the Council of May 31, 2024, establishing the Authority for Anti-Money Laundering and Countering...more

Reform of the EU Securitisation Framework—Part 2: Proposed Definitions of "Public" and "Private" Securitisations

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

Reform of the EU Securitisation Framework—Part 1: STS Label Extended to Unfunded Credit Protection

In January 2019, the EU introduced its current regulatory framework for securitisations, seeking to improve transparency, robustness, and market confidence following the global financial crisis. Market participants have...more

New European Anti-Money Laundering Authority Will Have Broad Normative Powers

The European Union ("EU") Anti-Money Laundering ("AML") package adopted by the European Parliament and the Council on May 31, 2024, represents a major shift in the fight against money laundering and terrorist financing at the...more

EMIR 3 Published in the Official Journal of the European Union

EMIR 3, published in the Official Journal of the EU on December 4, 2024, introduces substantive changes to the existing clearing framework and margining exemptions under the EMIR Regulation....more

CRD VI Requires Banks to Focus Even More on ESG Risk Management

Against the backdrop of the comprehensive recast of European Union ("EU") banking legislation, the EU legislator is increasingly focused on Environmental, Social, and Governance ("ESG") risks. In this context, ad hoc...more

Governance Under CRD VI: Harmonized EU Requirements

The Situation: Prior to the enactment of Capital Requirements Directive ("CRD") VI, corporate governance rules for the financial services industry were not harmonized across EU Member States....more

CRD VI and the New EU Third-Country Branch Regime: Harmonization Means Restricted Access

The Situation: The European Union ("EU") banking legislation has been substantially reviewed and provides notably for a new regime applicable to cross-border activities from non-EU jurisdictions....more

EU Banks Must Prepare for More Effective Supervision

On May 28, 2024, the Chair of the Supervisory Board of the European Central Bank ("ECB"), Claudia Buch, announced the decision to reform the current process of annual review of credit institutions under direct ECB supervision...more

ECB 2022 Climate Stress Test Calls European Banks to Action

On July 8, 2022, the European Central Bank ("ECB") released the results from its annual stress tests, this year focused on banks' ability to incorporate climate risk stress testing into their risk management frameworks. The...more

EBA Recommends Adjustments to Proposed EU Green Bond Standard to Develop Sustainable Securitisation Market in Europe

EBA Report on Developing a Framework for Sustainable Securitisation - The EBA Report examines how sustainability could be introduced in the specific context of the securitisation market in order to support its sound...more

Financial Government Support Measures Related to COVID-19 for European Corporates

The economic crisis caused by the spread of the coronavirus triggered an unprecedented response from European governments to support their economies with various measures of support. This overview summarizes the various...more

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