Tracks financial services regulatory developments and provides insight and commentary
On 9 January 2025, the European Banking Authority (EBA) published a Final Report containing Guidelines on the management of Environmental, Social and Governance (ESG) risks (the Guidelines).
The Guidelines address ESG risk management processes of ‘financial institutions’ (as per Article 4(1) point 3 of the Capital Requirements Regulation) as part…
Introduction
2025 will mark a fresh start in the EU as the new European Commission (Commission), which has been in place since 1 December 2024, will begin its work. Although the new Commission’s work programme for 2025 will not be published until 11 February 2025, there are a number of new initiatives within…
On 8 January 2025, the Financial Markets Standards Board (FMSB) issued in final form its updated Statement of Good Practice – Front office supervision of wholesale traded markets. The Statement of Good Practice updates the FMSB’s 2017 publication on front office supervision and includes new guidance to help firms meet challenges to…
On 8 January 2025, the European Banking Authority (EBA) published a consultation paper on draft Regulatory Technical Standards (RTS) specifying the technical elements necessary for institutions to calculate and aggregate crypto-asset exposures in relation to the prudential treatment of such exposures.
Background
Regulation (EU) 2024/1623 amending Regulation (EU) No 575/2013 (…
On 7 January 2025, the European Securities and Markets Authority (ESMA) published a Final Report containing guidelines on stress test scenarios under the Money Market Funds Regulation (MMF Regulation).
Article 28(7) of the MMF Regulation provides that ESMA shall develop guidelines with a view to establishing common reference parameters of the…
On 7 January 2025, the Prudential Regulation Authority (PRA) published Policy Statement PS1/25 – Resolution assessments: Amendments to reporting and disclosure dates.
Background
In CP12/24, published in October 2024, the PRA proposed to amend rules 3.1 and 4.1 of the Resolution Assessment Part so that the timing of future report submissions…
On 20 December 2024, the House of Lords’ Financial Services Regulation Committee published a letter it had sent to the FCA’s Chief Executive, Nikhil Rathi, responding to his previous letter regarding motor finance commission.
The letter notes that the Committee is considering the implications of the recent decision to grant leave to appeal to the…
On 27 December 2024, there was published in the Official Journal of the EU (OJ) Commission Implementing Regulation 2024/3317 of 29 November 2024 laying down implementing technical standards for the application of the Capital Requirements Regulation (CRR) with regard to supervisory reporting of institutions and repealing Commission Implementing Regulation (EU) 2021/451.…
On 3 January 2024, the European Securities and Markets Authority (ESMA) announced that it was launching the first selection procedure for the Consolidated Tape Provider (CTP) for bonds. Those entities that are interested in applying should register and submit their request to participate in the selection procedure by 7 February 2025.…
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We will resume posting material following the festive period on 7 January 2025 although if there are any significant developments we will endeavour to provide an update.
