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
The European Union (EU) Artificial Intelligence Act (AI Act), Regulation (EU) 2024/1689 of the European Parliament and of the Council of 13 June 2024 laying down harmonised rules on artificial intelligence and amending...more
On 1 June 2023, the three European Supervisory Authorities (the “ESAs”) published their respective progress reports (ESMA, EBA and EIOPA) in response to a request for their input from the European Commission (the...more
ANTITRUST AND COMPETITION - The European Commission Opens a New Investigation in the Pharma Sector - On 4 March 2021, the European Commission (Commission) has opened a formal investigation into alleged misuses of patent...more
The European Supervisory Authorities have each published advice to the European Commission on undue short-term pressure from the financial sector on corporations. The ESAs comprise the European Banking Authority, the European...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
The Joint Committee of European Supervisory Authorities has published a Final Report and final draft amending Implementing Technical Standards on the mapping of External Credit Assessment Institutions' credit assessments...more
The EU Commission is proposing measures to increase financial sector supervision in the wake of money laundering incidents. The European Commission recently proposed expanding the Europe Banking Authority’s ("EBA") mandate...more
3 April - The Financial Conduct Authority ("FCA") published a press release, warning that it intends to take action against general insurance firms that fail to properly implement the rules aimed at increasing...more
Aware of the risks of regulatory arbitrage developing post-Brexit, a key feature of the Commission’s proposals allows ESAs to monitor the practices of EU27 regulators....more
On 20 September 2017, the European Commission published a package of measures designed to increase the powers of the three European Supervisory Authorities (ESAs), primarily by transferring certain powers of regulation and...more
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more
Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more
The European Banking Authority published a consultation paper proposing revisions to the Implementing Technical Standards on supervisory reporting.The ITS on supervisory reporting collate the prudential reporting requirements...more