Under current international capital standards issued by the Basel Committee of the Bank for International Settlements, certain large banking organizations, with regulatory approval, can use their sophisticated internal risk-based models to determine the risk weight of their assets, called the Internal Ratings-Based Approach. The remaining banking organizations use the Standardized Approach. The standardized risk-based capital
ESMA consults on MAR guidelines regarding market soundings and delayed disclosure of inside information
The European Securities and Markets Authority (ESMA) has published a consultation paper concerning draft guidelines on the Market Abuse Regulation (MAR).
Market soundings
Section 2 of the consultation paper contains the draft guidelines for persons receiving market soundings.
Article 11(1) MAR provides that a “market sounding” is a communication of information, prior to the announcement
Commission Implementing Regulation laying down ITS specifying the joint decision process with regard to the application for certain prudential permissions pursuant to the CRR
There has been published in the Official Journal of the EU Commission Implementing Regulation (EU) 2016/100 of 16 October 2015 laying down implementing technical standards specifying the joint decision process with regard to the application for certain prudential permissions pursuant to Regulation (EU) No 575/2013 of the European Parliament and of the Council.
Commission Implementing Regulation laying down ITS with regard to determining the operational functioning of colleges of supervisors
There has been published in the Official Journal of the EU Commission Implementing Regulation (EU) 2016/99 of 16 October 2015 laying down implementing technical standards with regard to determining the operational functioning of the colleges of supervisors according to the CRD IV.
Commission Delegated Regulation supplementing the CRD IV with regard to RTS for specifying the general conditions for the functioning of colleges of supervisors
There has been published in the Official Journal of the EU Commission Delegated Regulation (EU) 2016/98 of 16 October 2015 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards for specifying the general conditions for the functioning of colleges of supervisors.
Commission Delegated Regulation supplementing the CRR with regard to RTS for prudent valuation under Article 105(14)
There has been published in the Official Journal of the EU Commission Delegated Regulation (EU) 2016/101 of 26 October 2015 supplementing Regulation (EU) No. 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for prudent valuation under Article 105(14).
A previous blog entry concerning the European Commission’s adoption of
ESAs submit a joint letter to the Commission on cross-selling of financial products in the EU
The Chairpersons of the three European Supervisory Authorities (ESAs) – the European Banking Authority, the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority – have sent a joint letter on cross-selling of financial products to Jonathan Hill, the European Commissioner for Financial Stability, Financial Services and Capital Markets Union.
EBA launches an impact assessment of IFRS 9 on banks in the EU
The European Banking Authority (EBA) has announced that in the context of the forthcoming implementation of the International Reporting Standard (Financial Instruments) (IFRS 9) in the EU, it is launching an impact assessment of the standard on a sample of approximately 50 institutions across the EU.
The exercise is intended to help the EBA understand
Clarifying our supervisory intentions: overall responsibility for the legal function under the SMR
The FCA has published a statement that is intended to clarify its supervisory intentions concerning whether an individual in charge of a firm’s legal function requires approval under the Senior Managers’ Regime (SMR).
Last summer the FCA made final rules for the new individual accountability regime and in its commentary on the new Handbook text
Virtual currencies: what are the risks and benefits?
The European Parliament has issued a press release following a hearing by its economic committee on virtual currencies.
The press release notes that most of the experts at the hearing were cautious about expanding EU legislation on virtual currencies. Commission representative Salles said: “One of the big challenges is not how fast and far to