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
On 20 December 2022, the European Banking Authority (“EBA”) published the final report on its draft Regulatory Technical Standards on the identification of a group of “connected clients” under Article 4(4) of the Capital...more
On 21 December 2022, ESMA published a final report in relation to draft technical standards for cross-border fund management activities and the cross-border marketing of investment funds within the EEA under the UCITS and...more
MiFIR requires “systematic internalizers” (i.e., firms that The European Securities and Markets Authority has launched a consultation to collect the views of market participants on the pre-trade transparency regime applicable...more
The European Securities and Markets Authority has launched a consultation on proposed draft Technical Standards on the provision of investment services and activities in the EU by third-country firms under the Markets in...more
The European Banking Authority has published draft amended Regulatory and Implementing Technical Standards regarding the exercise of credit institutions’ rights to freedom of establishment and freedom to provide services...more
The European Commission has published the results of its “fitness check” of EU supervisory reporting requirements. The reporting requirements imposed by EU and national regulatory authorities require regulated institutions...more
The Bank of England has published a consultation paper entitled "UK withdrawal from the EU: Changes to FMI rules and onshored Binding Technical Standards." The consultation forms part of a package of consultations, "Dear CEO"...more
On 12 January 2016, the long-awaited revised Payment Services Directive (“PSD2”) came into force in Europe. This replaces the Payment Services Directive (“PSD”) that has been in place since 2007. The deadline for EU member...more