On 17 July 2024, the Basel Committee on Banking Supervision (Basel Committee) published its final disclosure framework for banks’ cryptoasset exposures and targeted amendments to its cryptoasset standard. Both standards have an implementation date of 1 January 2026.
The final disclosure framework (DIS55) is based on the disclosure requirements contained in the final
On 17 July 2024, the European Banking Authority (EBA) issued a statement on the operational application of the Capital Requirements Regulation III (CRR III) in the area of credit risk modelling.
In the statement the EBA encourages institutions and Member State competent authorities (NCAs) to engage in active dialogue
In the sixth podcast in our DE&I series, Jonathan Herbst, Katie Stephen, Rebecca Dulieu and Simon Lovegrove discuss non-financial misconduct including previous FCA enforcement action, the FCA’s proposals in CP23/20 and the practical steps that firms can take in this area. The podcast is the first in a planned mini-series that will focus on this
On 17 July 2024, the Financial Conduct Authority (FCA) published Policy Statement PS24/7 on implementing the Overseas Funds Regime (OFR). In PS24/7, the FCA sets out the final rules and guidance necessary to implement the OFR, as well as responding to feedback to its consultation CP23/26.
The new gateway for
On 17 July 2024, the Government published the King’s Speech 2024, which set out a list of proposed legislation including the Bank Resolution (Recapitalisation) Bill, the National Wealth Fund (NWF) Bill, the Pension Schemes Bill, and the Draft Audit Reform and Corporate Governance Bill.
Bank Resolution (Recapitalisation) Bill
This Bill is intended
On 17 July 2024, the European Securities and Markets Authority (ESMA) published a report on suspicious transaction and order reports (STORs).
Similar to the report published last summer, the report aims at providing the market with a clear overview over the use of STORs in different jurisdictions across the EU and
On 17 July 2024, the European Supervisory Authorities announced that they will establish an EU systemic cyber incident coordination framework (EU-SCICF), in the context of the Digital Operational Resilience Act (DORA). The EU-SCICF will facilitate communication and coordination among EU authorities and liaise with other key stakeholders at international level, in case of cyber incidents
On 16 July 2024, Global Digital Finance (GDF) announced a partnership with the Global LEI Foundation (GLEIF).
Madeleine Boys, GDF Director of Programmes and Innovation stated, “This partnership with GLEIF is a natural progression in GDF’s ongoing efforts to foster a growing ecosystem of standards within the digital asset industry. GDF
On 16 July 2024, the European Banking Authority (EBA) issued a report on the review of the application of gender-neutral remuneration policies.
The EBA issued guidelines on gender-neutral remuneration policies for institutions and investment firms on 31 December 2021 and 30 April 2022, respectively. Article 74(3) of the Capital Requirements Directive IV and