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European Commission Financial Institutions European Securities and Markets Authority (ESMA)

A&O Shearman

Regulatory monitoring: EU version - July 2025

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EBA: Report on the exemption of third country undertakings from the requirement to set-up a branch for the provision of banking services to EU...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK and EU H1 Digital Assets Regulatory Update

The first half of 2025 brought significant developments in the regulation of digital and cryptoassets in the UK and EU. In this half-year update, we review these and look ahead to likely developments in the UK and EU in the...more

A&O Shearman

Industry associations urge ESMA to issue a no-action letter on EMIR 3 AAR implementation

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Four industry associations—EFAMA, EACP, ISDA, and FIA—have published a letter addressed to the European Securities and Markets Authority (ESMA) and the European Commission (EC), raising concerns about the implementation of...more

A&O Shearman

Regulatory monitoring - April 2025

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) Germany - Bundesbank: Updated directories of credit institutions and their associations in Germany on banking related information (Aktualisiertes...more

Cadwalader, Wickersham & Taft LLP

Capital Call Securitisation, March 2025 - Subscription Finance Facilities – the Allure to Securitise: A European Perspective

Securitisation of subscription finance facilities is en vogue in fund finance. We have written previously on this topic, offering a primer on capital call securitisations and a Q&A regarding a first publicly rated cash...more

A&O Shearman

EU CSDR Refit first set of technical standards published

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The European Securities and Markets Authority (ESMA) has published technical standards in relation to the Central Securities Depositories Regulation (CSDR) Refit. There are three final reports with the draft technical...more

A&O Shearman

UK central counterparty equivalence extension published in the Official Journal of the European Union

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The European Commission has extended its equivalence determination for U.K. central counterparties under the European Market Infrastructure Regulation until June 30, 2028...more

McDermott Will & Schulte

EMIR 3: Active Account, Clearing Threshold and Exemptions

On December 4, 2024, EU Regulation 2024/2987 (EMIR 3), amending EU Regulation 648/2012 on the European Market Infrastructure (EMIR), was published in the EU Official Journal. EMIR 3 will enter into force on December 24, 2024,...more

A&O Shearman

EU Announces Next Steps for the Transition to T+1 Settlement

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The European Commission, the European Central Bank and the European Securities and Markets Authority have published a joint statement on the next steps to support the preparations towards a transition to T+1. Under the EU...more

K&L Gates LLP

Brussels Regulatory Brief: June 2024

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Antitrust and Competition - The European Commission to Take Action to Address Territorial Supply Constraints - On 24 May 2024, the EU Commissioner for Competition, Margrethe Vestager, announced that the European Commission...more

A&O Shearman

On the existence of a pan-European reverse solicitation regime under MIFID II, and importance on a 'Hard' BREXIT

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This client memorandum concerns a highly technical point of considerable practical importance. It challenges aspects of the received wisdom that, for post-Brexit cross-border investment business conducted from the U.K....more

A&O Shearman

Delegated Regulation Published on Sustainability Impact Disclosures for Simple, Transparent and Standardized Securitizations under...

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Commission Delegated Regulation (EU) 2024/1700 has been published in the Official Journal of the European Union, supplementing the EU Securitization Regulation with regard to RTS specifying, for simple, transparent, and...more

Walkers

Adoption of the European Commission's retail investment strategy

Walkers on

On 24 May 2023, the European Commission (the "Commission") adopted and published its retail investment strategy ("RIS") a key tenet of its Capital Markets Union Action Plan (the "CMU Action Plan"). One of the core objectives...more

Hogan Lovells

EBA publishes final draft RTS on homogeneity of underlying exposures in on-balance-sheet STS securitisations

Hogan Lovells on

On 14 February 2023, the European Banking Authority (the “EBA”) published its final report on draft regulatory technical standards (“Final RTS”) specifying the criteria for the underlying exposures in STS securitisations to...more

McDermott Will & Schulte

Verordnung über Märkte für Kryptowerte

Die EU-Kommission veröffentlichte 2020 ihr Paket zur Digitalisierung des Finanzsektors, das auf den Arbeiten des FinTech-Aktionsplans der Kommission aufbaut und neben weiteren Legislativvorschlägen den Entwurf einer...more

Hogan Lovells

Securities and markets weekly regulatory news, August 2021 #2

Hogan Lovells on

Benchmarks (Provision of Information and Documents) (Amendment) Regulations 2021 published The Benchmarks (Provision of Information and Documents) (Amendment) Regulations 2021 (SI 2021/920) (Amending Regulations) have been...more

Hogan Lovells

Securities and markets regulatory news, June 2021 #3

Hogan Lovells on

UK CCPs: BoE discussion paper on supervisory stress test framework The Bank of England (BoE) has published a discussion paper on supervisory stress testing of UK central counterparties (CCPs) and announced its first public...more

Hogan Lovells

Securities and markets regulatory news, June 2021 #2

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CMU: European Commission toolkit of indicators for monitoring progress The European Commission has published a staff working document containing a toolkit of indicators for monitoring progress on the Capital Markets Union...more

Hogan Lovells

Financial institutions general regulatory news, June 2021

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SMCR: PRA PS11/21 and FCA Handbook Notice 88 on temporary, long-term absences - The UK Prudential Regulation Authority (PRA) has published a policy statement, PS11/21, which confirms its final policy relating to temporary,...more

Hogan Lovells

Financial institutions general regulatory news, May 2021 # 3

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US-UK financial regulatory working group joint statement - HM Treasury has published a joint statement by the US-UK Financial Regulatory Working Group following its fourth meeting, which was held virtually on 20 May 2021....more

A&O Shearman

European Central Bank Publishes Guide to Assessment Methodology for Counterparty Credit Risk and Credit Valuation Adjustment Risk...

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The European Central Bank has published its final Guide on the assessment methodology it will use to examine: (i) the internal model methods banks use to calculate exposures to counterparty credit risk; and (ii) the advanced...more

A&O Shearman

EU Publishes Draft Delegated Regulation on Changes to CCP Colleges under EMIR 2.2

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The European Commission has published a draft Delegated Regulation designed to amend existing Delegated Regulation (EU) No 876/2013, which supplements the European Market Infrastructure Regulation with regards to changes to...more

A&O Shearman

European Banking Authority Seeks to Promote RegTech Use

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The European Banking Authority has opened a consultation on RegTech and supporting the use of RegTech across the EU. Responses may be submitted until September 30, 2020. The EBA intends to report on the use of RegTech in the...more

K&L Gates LLP

Brussels Regulatory Brief: June 2019

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INSTITUTIONAL DEVELOPMENTS - The New European Parliament: More Fragmentation, Ad Hoc Coalitions, And Greener Policies? The results of the May 2019 European Parliament (“EP”) elections resulted in a more complex European...more

A&O Shearman

Key Regulatory Topics: 14 - 20 December

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Allen & Overy publish weekly updates on key regulatory topics affecting the financial services sector. BREXIT - Please see the product sections for updates on the various draft SIs published this week in anticipation of...more

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