On 30 March 2022, the European Securities and Markets Authority (ESMA) published a speech given by Natasha Cazenave, Executive Director at the ICI Investment Management Conference. The speech is entitled Key priorities for the asset management industry in 2022: sustainable finance and systemic risk and focusses on:
On 29 March 2022, the Wolfsberg Group published its guidance on digital customer lifecycle risk management. This guidance explores how non face-to-face customer interaction could be considered a standard, or even lower risk channel for a financial institution, by further developing three core anti-money laundering / countering the financing of terrorism controls:
On 30 March 2022, Elke König, chair of the Single Resolution Board (SRB), delivered a speech at the SRB Annual Press Breakfast which focuses on resolution and financial stability in Europe.
Among other things during the speech the SRB’s priorities for resolution planning are mentioned:
On 30 March 2022, there was published in the Official Journal of the European Union (OJ), Regulation (EU) 2022/504 of the European Central Bank of 25 March 2022 amending Regulation (EU) 2016/445 on the exercise of options and discretions available in Union law. The Regulation enters into force on the fifth day following its publication
On 30 March 2022, the European Securities and Markets Authority (ESMA) published the following memorandums of understanding (MoU):
Legislative review of the European Commission’s MiFIR Review Proposal continues (see our earlier blog on the content of the proposal). On 2 March 2022, the French Presidency hosted a meeting of the Council Working Party on Financial Services, the agenda of which focused on proposed provisions for consolidated tape providers (CTP) and amendments to best
On 28 March 2022, there was published on the legislation.gov.uk website The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2022 (No. 393) together with an explanatory memorandum.
This statutory instrument amends the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the MLRs) by substituting the list of
On 29 March 2022, the Payment Systems Regulator (PSR) published its annual plan for 2022/23.
Key projects for the PSR in 2022/23 include:
On 29 March 2022, the European Securities and Markets Authority (ESMA) published a final report (dated 23 March 2022) containing draft regulatory technical standards (RTS) under Article 27f(5) of MiFIR for the assessment of the suitability of members of the management body of data reporting services providers (DRSPs). The ESMA also provides in the final
The Taskforce on Nature-related Financial Disclosures (TNFD) has released a prototype of its risk management and disclosure framework for nature-related risks. The TNFD wants trustees of pension schemes to start taking action now.
The framework is designed to assist companies, investors and lenders in accounting for nature-related risks and opportunities in their decision-making. In effect,