May 2023

Inadequate governance is regularly cited by regulators as a factor which has contributed to the failings of firms. From small firms to international global organisations, governance is worth investing in with a view to avoiding common pitfalls and wider issues.

In this briefing note we set out some practical tips that firms may want to

On 30 May 2023, the European Banking Authority (EBA) published a peer review report on excluding transactions with non-financial counterparties established in a third country from credit valuation adjustment (CVA) risk.

The global financial crisis of 2007-2008 revealed that CVA risk was a source of unexpected losses. Robust CVA management mitigates

On 30 May 2023, the European Banking Authority (EBA) published a consultation paper containing draft technical standards which replace those contained in Commission Delegated Regulation (EU) 2016/98 and Commission Implementing Regulation (EU) 2016/99 specifying the functioning of supervisory colleges.

The technical standards are being updated given that the legal framework for banks and

On 30 May 2023, the European Securities and Markets Authority (ESMA) published a final report on the review of the regulatory technical standards (RTS) on the information to be provided in an application for authorisation and registration under the Benchmarks Regulation.

Article 34(8) of the Benchmarks Regulation states that ESMA shall

On 26 May 2023, the European Supervisory Authorities (ESAs) published a joint Discussion Paper on criteria for critical ICT third-party service providers and oversight fees. This Discussion Paper follows the request for technical advice that was sent by the European Commission (Commission) to the ESAs in late December 2022.

The ESAs

In this podcast Jonathan Herbst, Matthew Gregory and Simon Lovegrove discuss the pros and cons of the Memorandum of Understanding establishing a framework for financial services regulatory cooperation between the EU and the UK.