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European Union › Risk Management › Financial Institutions

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
Skadden, Arps, Slate, Meagher & Flom LLP

PRA Announces Reform to the UK Insurance Special Purpose Vehicles Regulatory Framework

Skadden, Arps, Slate, Meagher & Flom LLP on

- What is new: The PRA has published a policy statement finalising reforms to the UK insurance special purpose vehicles regulatory framework, including changes to funding, grace periods, authorisation and contract...more

A&O Shearman

Wolfsberg Group issues statement on the RBA for financial crime risk management

A&O Shearman on

The Wolfsberg Group (the Group) has released a statement reaffirming its commitment to the risk-based approach (RBA) for financial crime risk management. Further to its 2006 RBA guidance, and in line with the Financial Action...more

Jones Day

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

Jones Day on

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

A&O Shearman

EBA’s draft regulatory technical standards elaborate on requirements for EU branches of non-EU banks under CRD VI

A&O Shearman on

Directive 2024/1619 (CRD VI) will (among other things) establish a new and more prescriptive EU regulatory regime for EU branches of non-EU banks. New harmonised licencing, authorisation, capital, liquidity, booking, and...more

Pillsbury Winthrop Shaw Pittman LLP

DORA Now Fully in Effect: Financial Entities and Their Service Providers Reach Critical Milestone

Pillsbury Winthrop Shaw Pittman LLP on

With DORA in effect and the European Banking Authority’s updated guidelines for non-ICT services under consultation, financial entities must consider their approach to third-party risk management. After DORA became effective...more

Hogan Lovells

ECB Guide on outsourcing cloud services to cloud service providers

Hogan Lovells on

The European Central Bank (ECB) has published its Guide on outsourcing cloud services to cloud service providers (the "Guide") clarifying how banks are expected to comply with obligations under the EU Digital Operational...more

A&O Shearman

Regulation (EU) 2025/1355 on oversight of systemically important payment systems published in OJ

A&O Shearman on

Regulation (EU) 2025/1355 of the European Central Bank (ECB) adopted on 2 July has been published in the Official Journal of the European Union. This Regulation recasts and replaces Regulation (EU) No 795/2014, updating the...more

A&O Shearman

ESMA revises cloud outsourcing guidelines to align with DORA

A&O Shearman on

The European Securities and Markets Authority (ESMA) has published its final report, updating the 2021 guidelines on outsourcing to cloud service providers in line with the Digital Operational Resilience Act (DORA). The 2021...more

A&O Shearman

EBA consults on draft RTS and guidelines for third country branches under CRD IV

A&O Shearman on

The European Banking Authority (EBA) has published three consultation papers under Directive 2013/36 (CRD IV), as amended by Directive 2024/169 (CRD VI), relating to the regulatory requirements for third country branches...more

Hogan Lovells

MICA CASP authorisations: ESMA recommendations in peer review report

Hogan Lovells on

On 10 July 2025, the European Securities and Markets Authority (“ESMA”) published an executive summary of a peer review report regarding the authorisation and supervision of a crypto-asset service provider by the Malta...more

A&O Shearman

EC adopts delegated regulation requiring a review of countries that may pose a threat to the EU financial system

A&O Shearman on

The European Commission (EC) has adopted a Delegated Regulation amending a Delegated Regulation it adopted on 10 June, to introduce a review clause requiring the EC to independently assess countries that may pose a threat to...more

A&O Shearman

EBA consults on draft guidelines for third-party risk management for non-ICT related services

A&O Shearman on

The European Banking Authority (EBA) has published a consultation paper on its draft guidelines for managing third-party risk with regards to non-ICT related services. The guidelines will revise and update its prior 2019...more

A&O Shearman

EMIR 3 – the active account requirement

A&O Shearman on

The latest revisions to the European Market Infrastructure Regulation (known as EMIR 3)1 brought about numerous changes affecting cleared markets, with potential impacts both within and outside the EU. Among these is the...more

A&O Shearman

EBA consults on draft guidelines on application of definition of default and applying credit conversion factors under CRR

A&O Shearman on

The European Banking Authority (EBA) has published two consultation papers under the Capital Requirements Regulation (CRR), as amended by the revised Capital Requirements Regulation (CRR III). The first consultation paper...more

A&O Shearman

EU RTS on subcontracting ICT services supporting critical or important functions under DORA published in OJ

A&O Shearman on

Commission Delegated Regulation (EU) 2025/532 has been published in the Official Journal of the European Union. The Delegated Regulation supplements the Digital Operational Resilience Act (DORA) with regard to regulatory...more

A&O Shearman

SRB publishes updated guidance on solvent wind-down of trading books

A&O Shearman on

The Single Resolution Board (SRB) has published updated operational guidance, accompanied by a press release, on the solvent wind-down (SWD) of trading books. The guidance is intended to outline the scope and key expectations...more

A&O Shearman

EBA final guidelines on ADC exposures to residential property under CRR

A&O Shearman on

The European Banking Authority (EBA) has issued its final guidelines, accompanied by a press release, on the treatment of acquisition, development and construction (ADC) exposures to residential property under Article 126a of...more

A&O Shearman

EC adopts Delegated Regulation on RTS for identification of main risk driver of a position under CRR

A&O Shearman on

The European Commission (EC) has adopted a Delegated Regulation supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards (RTS) specifying methods for identifying the main risk...more

A&O Shearman

ESAs launch joint consultation on draft guidelines for ESG stress testing

A&O Shearman on

The European Supervisory Authorities (the European Banking Authority, European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority) have launched a joint consultation on their joint...more

A&O Shearman

EBA publishes spring 2025 risk assessment report

A&O Shearman on

The European Banking Authority (EBA) has published its spring 2025 risk assessment report alongside a press release, outlining key developments and emerging risks within the European Union/European Economic Area (EU/EEA). The...more

Katten Muchin Rosenman LLP

DORA Delegated Regulation on Threat-Led Penetration Testing Published in Official Journal

Katten Muchin Rosenman LLP on

The Delegated Regulation, which contains regulatory technical standards (RTS) on threat-led penetration testing (TLPT) requirements under the EU Digital Operational Resilience Act (DORA), was recently published in the...more

Cadwalader, Wickersham & Taft LLP

The Fine Print, June 2025 - The EU Makes Significant Changes to the Securitisation Regulations and Associated Prudential Rules

Cadwalader, Wickersham & Taft LLP on

The EU has now published its final proposal here (the “SecReg Proposal”) for a regulation amending Regulation (EU) 2017/2402 (“SecReg”). This memo discusses the most notable changes from the 2017 version of SecReg, many of...more

Cadwalader, Wickersham & Taft LLP

Europe Proposes Relaxations for Liquidity Buffers Including Securitisation Positions

Cadwalader, Wickersham & Taft LLP on

The European Commission has published a draft Regulation amending Delegated Regulation (EU) 2015/61 on the eligibility conditions for securitisations in the liquidity buffer of credit institutions (the “Draft”)....more

A&O Shearman

EC adopts Delegated Regulation to delay the application of Basel 3 market risk prudential requirements by an additional year

A&O Shearman on

The European Securities and Markets Authority (ESMA) has published a comprehensive set of principles, accompanied by a press release, aimed at strengthening the supervision of third-party risks across the EU financial sector....more

Cadwalader, Wickersham & Taft LLP

Final Proposal For Revisions To The EU Securitisation Regulation And The Capital Requirements Regulation

Cadwalader, Wickersham & Taft LLP on

The EU has now published its final proposal here (the “SecReg Proposal”) for a regulation amending Regulation (EU) 2017/2402 (“SecReg”).  This memo discusses the most notable changes from the 2017 version of SecReg, many of...more

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