On 17 March 2025, the European Securities and Markets Authority (ESMA) announced that it was prolonging the tiering determination decisions and recognition decisions for the three UK central counterparties (CCPs) that were adopted by the European Supervisory Authority on 25 September 2020. The application of the tiering determination decisions and recognition
EBA consults on draft RTS on the threshold for prudential risk management requirements of CSDs providing banking-type ancillary services
On 14 March 2025, the European Banking Authority (EBA) issued a consultation paper containing draft Regulatory Technical Standards (RTS) on the determination of the threshold referred to in Article 54(5) of the Central Securities Depositories Regulation (CSDR) and accompanying appropriate risk management and accompanying prudential requirements to mitigate risks
Global Regulation Tomorrow Plus: EMEA insights series: Episode 18 – Netherlands update
In our EMEA regulatory insights series colleagues from our EMEA offices provide an update on some of the key regulatory issues they are seeing in their local market. In this latest episode Floortje Nagelkerke and Nikolai de Koning from our Amsterdam office provide a regulatory update for the Netherlands. This includes the AFM’s strategy 2023-2026
Guidelines on explanations and opinions, and the standardised test for crypto-assets under MiCA
On 10 March 2025, the European Securities and Markets Authority published the official translations of the European Supervisory Authorities (ESA) guidelines on templates for explanations and opinions, and the standardised test for crypto-assets, under Article 97 (1) of the Regulation on markets in crypto assets (MiCA).
The guidelines apply from 12
ESAs acknowledge Commission’s amendments to the draft RTS on subcontracting under DORA
Earlier this year the European Commission (Commission) announced that it was rejecting the draft Delegated Regulation supplementing the Digital Operational Resilience Act (DORA) with regard to regulatory technical standards (RTS) on subcontracting ICT services supporting critical or important functions.
The basis of the rejection was that the requirements introduced
ESMA delayed or deprioritised deliverables for 2025
- AIFMD Review – Regulatory technical standards (RTS) on open ended loan originating alternative investment funds
EBA consults on fees to validate pro forma models under the EMIR
On 5 March 2025, the European Banking Authority (EBA) issued a Discussion Paper on fees to be paid by financial and non-financial counterparties requiring the validation of pro forma models under the European Market Infrastructure Regulation (EMIR).
The European Commission previously issued a request for technical advice on a possible delegated
Commission Notice containing clarifications on technical screening criteria
On 5 March 2025, the European Commission issued a Notice which contains technical clarifications responding to frequently asked questions on the technical screening criteria set out in the Taxonomy Climate Delegated Act (including the amendments to the Taxonomy Climate Delegated Act) and the Taxonomy Environmental Delegated Act, as well as the disclosure obligations for the
Commission targeted consultation on the review of the functioning of commodity derivatives markets and certain aspects relating to spot energy markets
- Data aspects relating to commodity derivatives.
- The ancillary activity exemption.
- Position management
EBA report on data availability and feasibility of common methodology for ESG exposures
On 24 February 2025, the European Banking Authority (EBA) issued a report on data availability and feasibility of common methodology for environmental, social and governance (ESG) exposures.
The report addresses points (a) and (b) of the mandate under Article 501c(1) of the Capital Requirements Regulation (CRR), requesting the EBA