Our monthly regulatory newsletter monitors all relevant developments regarding German and European regulatory law in English language. BMF: Draft bill for the Banking Directive Implementation and Bureaucracy Relief Act...more
The following three regulatory technical standards supplementing the Digital Operational Resilience Act have been published in the Official Journal of the European Union: - RTS on the criteria for the classification of...more
The UK and Europe have released a number of updated requirements for securitisations that, while not effecting material changes, are notable in their scope and number. Below, we give a brief guide to these changes and their...more
EU Securitisation Regulation – EBA final advice on the revised draft recast risk retention RTS adopted by the European Commission. In May 2022 we shared with you some of our thoughts on the European Banking Authority...more
In February 2023, the European Banking Authority published its final report on the draft amending regulatory technical standards (the draft RTS) relating to the homogeneity requirements for simple, transparent and...more
Welcome to July’s edition of the ESG Regulation Monthly Round-Up. Once again, it was a busy month on the SFDR and Taxonomy front following the (i) European Supervisory Authorities' report on voluntary disclosure of principal...more
1. Speed read - As the start date looms for the Level 2 requirements under SFDR and the product disclosure regime in the Taxonomy Regulation, firms are progressing their implementation projects. This bulletin provides an...more
ESG securitisation has the potential to play a key role in achieving sustainable finance objectives in the European Union. There have been a number of regulatory developments and other advances in this area, including the...more
On 12 April 2022, the European Banking Authority (the “EBA”) announced the publication of its final draft Regulatory Technical Standards (“RTS”) specifying the requirements for originators, sponsors and original lenders in...more
Background - On 12 April 2022, the European Banking Authority (the “EBA”) announced the publication of its final draft Regulatory Technical Standards (“RTS”) specifying the requirements for originators, sponsors and...more
On 6 April 2022, the European Commission (“Commission”) adopted the consolidated final regulatory technical standards (“RTS”) to the Sustainable Finance Disclosure Regulation (2019/2088/EU) (“SFDR”) and the EU Taxonomy...more
On April 12, 2022, the European Banking Authority (the “EBA”) issued a press release announcing the publication of its final draft Regulatory Technical Standards (“RTS”), setting out the requirements for originators, sponsors...more
On March 25, 2022, the three European supervisory authorities − the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority (collectively the...more
The most innovative and challenging aspect of the EU’s Sustainable Finance Disclosure Regulation (SFDR) is probably the new principal adverse impacts or PAI regime. This is being introduced in stages, starting from 10 March...more
This week’s update includes, among other key items, the FSB’s report on its evaluation of the effects of too-big-to-fail reforms for systemically important banks. This report, alongside the FSB’s report on Covid-19 support...more
The European Supervisory Authorities (ESAs) have published the draft Regulatory Technical Standards (“Taxonomy RTS”) on product-level disclosures that apply to funds or portfolios that promote or make environmentally...more
CRR: Commission Implementing Regulation containing ITS on reporting requirements for market risk Commission Implementing Regulation (EU) 2021/453 containing implementing technical standards (ITS) on specific reporting...more
Resolvability Assessment Framework: BoE Dear CEO letter The Bank of England (BoE) has published a letter sent by Dave Ramsden, BoE Deputy Governor for Markets and Banking, to the CEOs of the eight UK banks in the scope of the...more
As Firms continue to implement SFDR, which applies on 10 March 2021 across the EU, our latest Great Fund Insights client alert gives further detail on the Regulatory Technical Standard and how firms can make sense of the new...more
The European Supervisory Authorities (ESAs) have published the final draft of the Regulatory Technical Standards (RTS) under the EU Sustainable Finance Disclosure Regulation (SFDR), which set out the detailed disclosure...more
Regulation (EU) 2019/2088 of 27 November, 2019 on sustainability-related disclosures in the financial services sector, as amended by Regulation (EU) of 18 June, 2020 on the establishment of a framework to facilitate...more
Recent regulatory developments of interest to financial institutions and markets. Includes updates from the UK FCA, the European Supervisory Authorities and IOSCO, among others. Recent regulatory developments of interest to...more
AIFMD review: European Commission consultation - The European Commission has launched a consultation questionnaire relating to its review of the Alternative Investment Fund Managers Directive (AIFMD)....more
CRD V: Draft Financial Holding Companies (Approval etc) and Capital Requirements (Capital Buffers and Macro-prudential Measures) (Amendment) (EU Exit) Regulations 2020 - HM Treasury has published a draft version of the...more
Brexit: ESMA to recognise three UK CCPS from 1 January 2021 - The European Securities and Markets Authority (ESMA) has announced that three central counterparties (CCPs) established in the UK will be recognized as...more