Topic: European Commission

“We are not stopping here”: EU Commission announces capital markets package

The European Commission has revisited its six-year-old attempt to create a capital markets union, announcing measures on consolidated tape, rolled-back open access, and cross-border delegation of portfolio and risk management outside the EU, in an attempt to address the fragmentation of the bloc’s trading venues and increase its ability to compete with London and New York.

29 November 2021

Regulators in Danske scandal voted to decide their own fate, record shows

Denmark and Estonia, the two countries at the heart of the €200 billion money laundering scandal at Danske Bank, participated in a vote that determined whether the European Banking Authority carried out an investigation into internal failings at the bank.

01 November 2021

EU Commission confirms Basel rules delay

The European Commission has announced that it will apply the Basel output floor at group level – departing from its longstanding tradition of applying prudential measures to subsidiaries – but the measure will only be fully implemented in 2030.

28 October 2021

EU banks lack progress on ESG, controversial BlackRock study says

European banks still lack any sort of “explicit and comprehensive” risk strategy for ESG, according to a report carried out by BlackRock on behalf of the European Commission – even as critics argue the asset manager failed to put aside its own interests in producing the report.

31 August 2021

Fieldfisher hires from BNY Mellon; Ashurst appoints in Sydney

A Bank of New York Mellon managing counsel has joined Fieldfisher's London office, while Ashurst has continued the expansion of its finreg practice with a new partner hire in Sydney.

19 August 2021

EBA seeks to centralise AML compliance norm-setting

The EBA has proposed new guidelines that lay out its expectations of firms’ anti-money laundering compliance officers, set to be the first of their kind and which it says will streamline compliance across the EU.

04 August 2021

AML gets a new face

The EU is set to get a new anti-money laundering authority, a single EU rulebook, and tightened oversight of cryptocurrency transactions as part of a package of wide-spreading proposals to reform the its AML controls.

21 July 2021

ECJ upholds “inherently opaque” SRB contribution order

The European Court of Justice has upheld a ruling that the EU’s resolution authority should recalculate a German bank’s contribution to the bloc’s resolution fund, after its original calculation method was labelled “inherently opaque”.

21 July 2021

ECB embarks on digital euro investigation

The European Central Bank moved further in its digital currency plans, announcing a 24-month-long investigation into the new coinage as experimentation proves current options viable.

15 July 2021

National authorities must cooperate more, say EBA standards

The European Banking Authority has finalised its standards for supervisory colleges to coordinate national regulators’ supervision of investment firms operating within multiple EU member states.

07 July 2021

Get unlimited access to all Global Banking Regulation Review content