The European Commission has published legislative proposals for a Regulation and a Directive that it has adopted introducing a revised EU prudential regime for investment firms. The two legislative acts would amend the existing prudential framework for investment firms set out in the Capital Requirements Directive IV (CRD IV) and the Capital Requirements
The Basel Committee on Banking Supervision (Basel Committee) has published its first proposed technical amendment to the net stable funding ratio (NSFR). Specifically the proposed amendment concerns the treatment of extraordinary monetary policy operations in the NSFR. To provide greater flexibility in the treatment of extraordinary central bank liquidity-absorbing monetary policy
The Basel Committee on Banking Supervision (Basel Committee) has issued a consultative document on stress testing principles and a range of practices report on supervisory and bank stress testing.
The consultative document sets out proposed new principles on stress testing that are intended to replace the existing principles that the Basel Committee adopted
The European Securities and Markets Authority (ESMA) has issued the official translations of its guidelines on the management body of market oeprators and data reporting services providers under MiFID II.
Member State national competent authorities must notify ESMA whether they comply or intend to comply with the guidelines, within two months of the
The European Securities and Markets Authority (ESMA) has issued guidance to Member State national competent authorities and market participants on the topic of continuity of cross-border provision of investment services in the transition between MiFID I and MiFID II, including in the event that there is late transposition of the Directive by some
The European Securities and Markets Authority (ESMA) has published three consultation papers on draft technical standards implementing the Securitisation Regulation (SR). The Regulation establishes a general framework for securitisation and creates a specific framework for simple, transparent and standardised (STS) securitisation.
The consultation papers seek stakeholder views on:
The European Banking Authority (EBA) has published an updated quantitative analysis on the minimum requirement for own funds and eligible liabilities (MREL). Based on the same methodology and assumptions developed in the context of the MREL report published in December 2016, the EBA has updated its estimates of capacity and funding
The European Banking Authority (EBA) has published its full assessment quantifying the impact of the reform package recently agreed by the Basel Committee on Banking Supervision on the European banking system.
Overall, the results, based on data as of 31 December 2015, show that European banks’ minimum Tier 1 capital requirement would increase
The European Banking Authority (EBA) has published final guidance for the use of cloud service providers by EU financial institutions. The guidance becomes applicable as of 1 July 2018 and is addressed to credit institutions, investment firms and Member State competent authorities.
The guidance clarifies EU supervisory expectations if institutions intend to adopt
The Securities and Exchange Commission (“SEC”), through its new Cyber Unit, recently obtained an emergency asset freeze against Dominic Lacroix, his partner, Sabrina Paradis-Royer, and his company, PlexCorps, for a fraudulent Initial Coin Offering (“ICO”). The SEC’s complaint alleges that they sold securities claiming investments in PlexCoin would bring profits of 1,354% in less than