Region: Europe

The EU’s executive body has proposed an overhaul of its existing rules for consumer participation in capital markets, some of which practitioners say “mirror” concepts from UK’s new Consumer Duty.

30 May 2023

With more disclosure regulations and standards soon to be implemented, participants at a recent sustainable finance summit in Amsterdam discussed the increasing need for reliable data and methodologies related to sustainability and climate-related risk data and methodologies.

26 May 2023

Same activity, same risks, same rules – that’s the mantra governing a lot of regulation of virtual assets, but it’s discouraged the creation of a market in security tokens. Panellists from the EU, Japan, China, Singapore and Switzerland at a recent IBA conference in Tokyo asked what needs to happen for this market to take off.

23 May 2023

The UK’s Prudential Regulation Authority has published its model risk management policy, but will limit its scope to mull over proportional implementation definitions for “Simpler-regime” banks.

22 May 2023

The European Banking Authority has completed its investment firm regulatory roadmap with new proposed standards for the prudential consolidation of investment firm groups, outlining requirements for consolidation methods and how consolidated groups establish internal control mechanisms and organisational structures.

17 May 2023

The UK’s central bank has announced plans to unify its enforcement approach, providing “carrots” for early cooperation and, potentially, disproportionately large fines for regulatory infringements by big firms.

15 May 2023

“You still have time, but only just.” With less than three months to go until the Consumer Duty comes into effect in the UK, a review by the Financial Conduct Authority of firms’ fair value frameworks has shown many unwilling to challenge themselves on “uncomfortable questions” and unable to give adequate evidence for why their products provide fair value.

10 May 2023

With just over a year left in the current European Commission’s mandate, a senior DG-FISMA official has told financial market professionals not to expect major new legislation until after next year’s European elections, as markets continue to grapple with the past four years’ taxonomy and disclosure innovations. With Kelvin Ng reporting from Amsterdam.

04 May 2023

Three UK regulators have published a plan to step up the country’s open banking development, with a three-year implementation plan and an as-yet-unnamed “future entity” to eventually assume oversight over open banking activities.

03 May 2023

A month after the collapse of Credit Suisse forced the merger of Switzerland’s two globally systemically-important banks, the local regulator has said that two emergency plans from among the country’s domestic systemically important banks are not sufficient.

27 April 2023