More than a decade after the establishment of the Single Supervisory Mechanism and the European Supervisory Authorities, European banking supervision remains highly complex. This article looks at the issues raised during our...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EBA: Updated methodology on the regulatory and supervisory equivalence of non-EU countries - Status: Final - The EBA has published its updated...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General (i) EU - EBA: Updated methodology on the regulatory and supervisory equivalence of non-EU countries - Status: Final - The EBA has published its updated...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - FSB: Plenary December 2024 - Status: Final - The FSB has set out the outcomes of its Plenary that met on 3 and 4 December. Points of...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) Germany - BReg: Government draft on the Second Future Financing Act (Regierungsentwurf zum zweiten Zukunftsfinanzierungsgesetz) Status: Draft - The...more
On September 19th, 2024, the CSSF published its 2023 annual report, highlighting key regulatory challenges, particularly in the realm of crypto-assets following the implementation of the Markets in Crypto-Assets Regulation...more
1. Bank regulation - 1.1 Prudential Regulation - (a) General - (i) International - BCBS: Consultation on report regarding various technical amendments and FAQs - Status: Consultation - Deadline for the submission of...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - BCBS: Consultation on report regarding various technical amendments and FAQs - Status: Consultation - Deadline for the submission of...more
With under six months to go until the European Union Digital Operational Resilience Act (DORA) becomes applicable on 17 January 2025, DORA implementation projects are running full steam ahead. DORA lays down uniform...more
Beginning January 17, 2025, financial entities based in the European Union must have in place processes and policies, and mandatory contract provisions with their third-party technology vendors, that comply with the EU...more
The publication by the Joint Committee of the European Supervisory Authorities (ESAs) on (a) 17 July 2024 of the second batch of implementing materials and (b) 26 July 2024 of the sub-contracting of information and...more
The Digital Operational Resilience Act (DORA) regulation is part of the European Union’s (EU) strategy to enhance the overall stability of the EU financial system by ensuring that financial entities are resilient to digital...more
The ESAs urge the European Commission to consider a labelling rather than a disclosure regime to help consumers understand the sustainability goals of financial products....more
On 28 November 2022, the European Council adopted the Digital Operational Resilience Act (“DORA”), concluding the final step in the EU legislative approval process and on 16 January 2023 DORA entered into force. DORA will be...more
The EU regulation on digital operational resilience for the financial sector (DORA) was published in the Official Journal of the European Union on 27 December 2022. It entered into force on 16 January 2023 and will apply from...more
Our monthly regulatory newsletter monitors all relevant developments regarding German and European regulatory law in English language. ...more
29 September - The Financial Conduct Authority (“FCA”) published its perimeter report 2019/20, which provides an update on the issues raised in its 2018/19 report. A European Commission notice (2020/C 321/01) relating...more
Current rules fall short of providing a clear framework for a single European market for fintech companies. The development of a single market for fintech has recently been placed at the center of the EU financial...more
Since it entered into force in 2018, the PRIIPs Regulation has raised a number of issues. These range from issues concerning the scope of the Regulation, in particular its application to corporate bonds and the impact this...more
An EU Regulation amending the Capital Requirements Regulation introducing a statutory prudential backstop, and requiring banks to have minimum loan loss coverage for newly originated loans, has been published in the Official...more
1 March - The European Banking Authority ("EBA") published an opinion on deposit protection resulting from the United Kingdom's ("UK") withdrawal from the European Union ("EU"). The Financial Conduct Authority ("FCA")...more
NPLs are a hot topic, high on the European supervisory authorities' agenda. Legislative and prudential requirements to reduce NPLs are rapidly evolving. In March of 2018, the EC published a package of reforms aimed at...more
In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
In the German market, market participants use cross border financing for a variety of different purposes, including acquisitions, refinancings and leveraged buyouts (LBOs). LBOs are usually financed by way of senior debt...more
On September 11, the Joint Committee of the ESAs published a report on the risks and vulnerabilities in the EU financial system (JC 2018 34), which sets out recommendations for policy action. ...more