On 24 July 2024, the European Banking Authority (EBA) issued a final report on EBA guidelines amending the Joint Committee guidelines on complaints handling for the securities and banking sectors.
The guidelines amend the Joint Committee guidelines on complaints handling for the securities and banking sectors to specify the requirement in relation to
On 24 July 2024, the European Central Bank (ECB) issued a consultation on a draft guide on governance and risk culture.
The purpose of the draft guide is to set out key ECB supervisory expectations when assessing the governance and risk culture of supervised entities based on the current regulatory framework. As such
Last week, two major stablecoin announcements were made to support Hong Kong’s efforts in facilitating the responsible development of its virtual asset ecosystem.[1] On 17 July 2024, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly published consultation conclusions on the proposed regulatory
Background
The Prudential Regulation Authority’s (PRA) published its Policy Statement “Review of Solvency II: Reform of the Matching Adjustment” (PS10/24) and the associated finalised rules and guidance[1] on 6 June 2024. This followed the publication of the PRA’s consultation paper in September 2023 and the enactment of The Insurance and
On 22 July 2024, the European Banking Authority (EBA) issued a report concerning its recent peer review on its guidelines on the application of the definition of default.
The EBA guidelines on the application of the definition of default harmonise the definition of default across the EU prudential framework and improve consistency in
On 22 July 2024, the Financial Stability Board issued a progress report regarding enhancing the resilience of non-bank financial intermediation (NBFI).
The progress report describes recent and ongoing work by the FSB to address systemic risk of NBFI. It sets out the main findings of work over the past year to assess and
On 22 July 2024, the European Securities and Markets Authority (ESMA) issued a statement on the transition to the new regime for post-trade transparency of over-the-counter (OTC) transactions.
The statement complements the statement that ESMA made on 27 March 2024 on the transition for the application of the MiFIR review.
This
On 19 July 2024, the European Central Bank (ECB) issued a press release stating that the Eurosystem has defined a harmonised policy to allow non-bank payment service providers (PSPs) to access central bank-operated payment systems, including TARGET. Non-bank PSPs include payment institutions (PIs) and electronic money institutions (EMIs
On 19 July 2024, the European Commission adopted a Delegated Regulation supplementing Regulation (EU) 2015/760 with regard to regulatory technical standards specifying when derivatives will be used solely for hedging the risks inherent to other investments of the European long-term investment fund (ELTIF), the requirements for an ELTIF’s redemption policy and liquidity management
On 19 July 2024, the European Banking Authority (EBA) issued a consultation paper on a handbook chapter on independent valuers for resolution.
The EBA has already issued regulatory technical standards (RTS) on independent valuers under Article 36(14) of the Bank Recovery and Resolution Directive. These RTS determine the circumstances under which