Organisation: European Commission

Subjecting EU’s banks to new cyber act would undermine DORA, industry body says

Subjecting the financial sector to the EU’s Cyber Resilience Act would lead to “confusion, duplications and overlaps” with the recently-passed DORA, a banking lobby group has warned.

09 March 2023

European Commission takes a second look at benchmarks regulation

After several false starts, the European Commission has decided to review the EU’s third-country benchmarks regulation, admitting that its regime for EU banks’ use of non-EU benchmarks is “over-restrictive” and hampers their international competitiveness.

07 March 2023

EU makes its CCP play

The European Commission has announced its plans to reduce the EU’s dependence on UK-based central counterparties, introducing a requirement that all market participants clear “at least a portion” of their derivative contracts at EU-based CCPs, while introducing plans to speed up the approval process for EU-based providers.

13 December 2022

“An early Christmas gift”: practitioners prepare for DORA implementation

As the world’s major financial centres push through reforms to their digital operational resilience frameworks in earnest, practitioners say the EU’s Digital Operational Resilience Act is set to be a “cornerstone” of the European regulatory framework with implications for financial firms and technology providers alike.

13 December 2022

EC overstepping on instant euro payments, German banks say

The German banking association says an EU plan to force adoption of instant euro-payments through legislation goes too far, and does not fix any obvious ill.

31 October 2022

“Those lawless days are coming to a close": EU commissioner speaks out on MiCA and digital euro

European Commissioner Mairead McGuinness has pledged an end to the "Wild West" of EU crypto regulation after the last year's volatility in crypto markets.

03 October 2022

EU plans to exclude banks from emission trading based on “unsubstantiated” claims, industry groups say

A group of industry bodies have raised the alarm over recent proposals in the European Parliament for reforms that would limit participation in the EU’s carbon emissions trading market, saying they would harm companies risk management, market liquidity, and increase capital needs.

22 September 2022

EU sustainability reporting standard could mean “information overload”, consultees say

Sustainable investing groups have praised the EU’s draft Sustainability Reporting Standards, whose consultation period closed this week, but banking groups have called for a delay in implementation.

10 August 2022

Meet the policymaker: Jan Ceyssens, European Commission

“Regulation can only do so much”: with the EU’s landmark Markets in Crypto Assets framework agreed, GBRR met with one of its key architects, the head of the European Commission’s digital finance unit Jan Ceyssens, to discuss MiCA, what open banking has in store and his hopes for a digital euro.

25 July 2022

EU agrees MiCA framework

The EU’s legislative bodies have reached agreement on the bloc’s regulatory framework for markets in crypto assets, placing stablecoins under EBA supervision and requiring their issuers to be EU-domiciled.

04 July 2022

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