On 31 May 2021, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published various news items on its website calling on investment firms (see here, here and here), managers of alternative investment funds (AIFs) and depositaries of AIFS and undertakings for collective investment in
The Insurance Authority (IA) has taken its first disciplinary actions against two licensed insurance broker companies for failure to submit their audited financial statements and auditor’s reports within required timeframes. One of the broker companies has had its licence suspended, and both companies have been fined. The enforcement actions are the first of
On 27 May 2021, the European Securities and Markets Authority (ESMA) issued a consultation paper setting out draft regulatory technical standards (RTS) and implementing technical standards (ITS) specifying the content and the format of the standardised templates for simple, transparent and standardised (STS) notification of on-balance sheet
On 27 May 2021, the European Banking Authority (EBA) issued a consultation paper regarding draft guidelines that set out how prudential supervisors, AML/CFT supervisors and financial intelligence units should cooperate and exchange information in relation to AML/CFT, in line with Article 117(5) of the CRD IV.
The draft guidelines set out general provisions
On 26 May 2021, the European Securities and Markets Authority (ESMA) published a letter that it had sent to Mairead McGuinness (Commissioner for Financial Services, Financial Stability and Capital Markets Union) raising a number of points regarding the European Commission’s current review of the Central Securities Depositories Regulation (CSDR).
ESMA has
On 27 May 2021, the European Securities and Markets Authority (ESMA) published a final report containing guidelines that specify the application of the requirements for marketing communications set out in Article 4(1) of the Regulation on the cross-border distribution of funds. In particular the guidelines establish common principles on the identification as such
On 27 May 2021, the European Banking Authority (EBA) published a report on the application of early intervention measures (EIMs) under the Bank Recovery and Resolution Directive (BRRD).
The report presents the results of a survey on the application of EIMs that the EBA conducted among Member State competent
On 26 May 2021, the FCA issued a statement on its website concerning its approach to regulating firms in relation to the Government’s Recovery Loan Scheme (RLS).
The statement provides that:
On 25 May 2021, the European Securities and Markets Authority (ESMA) published a final report on guidelines on the calculation of positions in securities financing transactions (SFTs) by trade repositories (TRs) under the Securities Financing Transactions Regulation (SFTR).
The report contains an assessment of the feedback received
On 26 May 2021, the European Banking Authority (EBA) published final draft regulatory technical standards (RTS) on own funds and eligible liabilities.
The draft RTS align existing provisions to changes introduced in the revised Capital Requirements Regulation in the area of own funds. This is the case, in particular, for provisions