December 2022

On 29 December 2022, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a report titled ‘Capital Markets Information Security Monitor’ (the Report).

According to the AFM, business processes of capital market institutions (e.g. trading venues, proprietary traders, and clearing & settlement institutions) are heavily and increasingly


On 9 December 2022, the Chancellor of the Exchequer announced a set of reforms (the “Edinburgh Reforms”) that aim to drive growth and competitiveness in the financial services sector[1]. As part of the Edinburgh Reforms, the UK Government published both an illustrative Statutory Instrument on the Securitisation Regulation (the “

To all of our global readers we would like to take this opportunity to wish you all a Merry Christmas and a Happy New Year.

We will resume posting material following the festive period on 9 January 2023 although if there are any significant developments we will endeavour to provide an update.

On 21 December 2022, the European Banking Authority (EBA)  published Questions and Answers (Q&As) on the Package Retail Insurance-based Investment Products (PRIIPs) Key Information Document (KID).

The Q&As concern Regulation (EU) No 1286/2014 (the PRIIPs Regulation) and its Delegated Acts. The original delegated rules are found

On 21 December 2022, the European Securities and Markets Authority (ESMA) published a final report on draft technical standards on the notifications for cross-border marketing and cross-border management of AIFs and UCITS.

The purpose of the draft Implementing Technical Standards (ITS) and Regulatory Technical Standards (RTS) is to facilitate

On 21 December 2022, the European Banking Authority (EBA) published an updated list of diversified indices.

The list was originally published in 2013 and previously updated in 2019. The list of part of the implementing technical standards (ITS) drafted to calculate the capital requirements for position risk in equities according to

On 21 December 2022, the European Banking Authority (EBA) published its final report on Draft Regulatory Technical Standards (RTS) on the identification of a group of connected clients under Article 4 paragraph 1 number 39 of RegulationNo 575/2013 (the Capital Requirements Regulation or CRR).

These draft RTS, in conjunction with

On 20 December 2022, the Single Resolution Board (SRB) and the European Central Bank (ECB) revised their Memorandum of Understanding (MoU) in order to further enhance cooperation and information exchange.

The revision of the MoU is an important milestone in the cooperation between the SRB and ECB. The MoU