Region: European Union

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

Data availability concerns persist as ESG amendments to MiFID II enter force

New EU rules integrating ESG into MiFID II requirements have come into force, despite warnings from industry that the data needed for effective compliance is still not available.

08 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

Natural persons cannot challenge EBA’s investigative discretion, appeal board rules

The appeal board of EU financial regulators has confirmed natural persons cannot challenge EBA decisions not to open investigations into member state regulators, saying the EBA’s own-initiative investigatory power is “entirely discretionary”.

25 July 2022

ECB climate stress test reveals “deficiencies, data gaps and inconsistencies”

A majority of supervised EU banks have not addressed climate risk sufficiently in their long term risk management strategies, the European Central Bank has said following its annual climate risk stress test.

13 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

EBA finalises data collection plans for remuneration and gender pay gap information

The EBA has announced its finalised guidelines for the collection of gender-focused remuneration and salary data, set to come into force next year.

04 July 2022

The EU’s newest regulator is partially set up – but no location yet

A new agreement on the much-anticipated Anti-Money Laundering Authority says that the body will supervise crypto asset service providers, though it holds back on which city will play host.

30 June 2022

“Not enthusiastic, to put it mildly”: digital euro plans face public unease

The European Commission’s consultation on a potential digital euro has now closed, but responses show widespread opposition to the suggestion of a European CBDC.

23 June 2022

EU pilots crypto regulatory exemption regime

After a two-year legislative process, the European Union has finally piloted an “out of character” EU-wide sandbox that will grant some crypto firms “momentous” regulatory exemptions.

08 June 2022