Topic: European Commission

EU and UK target greenwashing with sustainability proposals

UK lawmakers have urged the country’s financial regulator to ramp up efforts to tackle greenwashing, as the European Commission announces proposals to require large international banks to comply with higher sustainability reporting requirements.

23 April 2021

UK and EU prepare for “managed divergence” in financial services deal

The UK and European Union have put in place a new post-Brexit financial services pact to enhance cooperation on regulation in the sector, a move that could bring about a “managed divergence” of EU and UK regulation.

30 March 2021

ESMA “dancing around the issue” with post-Wirecard transparency proposals

The European securities watchdog is “dancing around the issues” in its new proposals to overhaul the EU Transparency Directive in order to avoid advocating for the expansion of its own mandate, an economist has said.

09 March 2021

EU banking associations call for Basel III flexibility to address pandemic fallout

Banking associations in Germany and Italy have called for EU regulators to tweak the insolvency framework and delay Basel III implementation, to allow banks to address the fallout from the covid-19 pandemic.

17 February 2021

ESMA should regulate crypto, AMF chair says

The chair of France’s principal financial regulator has called on the European Securities and Markets Authority to take charge of the regulation of crypto-assets under forthcoming EU legislation regulating the sector.

09 February 2021

EU releases BlackRock ESG report despite “clear risk” of conflict of interest

The EU has released a report conducted by BlackRock on integrating environmental, social and governance (ESG) factors into banking regulation, despite the European Ombudsman warning of a “clear risk” that the asset manager’s interests could influence the outcome in its own favour.

16 December 2020

EU opens CSDR buy-in regime to the floor

The European Commission has opened the door to amending its central securities depository regulation (CSDR), following industry criticisms over a controversial rule implementing mandatory buy-ins and cash penalties for settlement failures.

09 December 2020

EU bailout fund to get greater powers over bank rescues

European finance ministers have agreed to the long-awaited reform of the EU’s bailout fund, giving it greater powers over future bailout programs and positioning it as a backstop in the case of another financial crisis.

02 December 2020

Basel finalises NPL securitisation rules

The Basel Committee on Banking Supervision has issued specific capital requirements rules for non-performing loan securitisations, addressing what it calls a “gap” in its regulatory framework.

30 November 2020

UK announces post-Brexit equivalence for European firms

The UK Treasury has announced it will grant several equivalence rights to EEA financial firms, amid doubts the EU will reciprocate without the UK including further arrangements in their Brexit plans.

11 November 2020

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