On 4 December 2024, the Financial Stability Board (FSB) issued a press release following its plenary in Hong Kong on 3 and 4 December.
Key points from the press release include that the FSB:
FSB press release – Plenary in Hong Kong
Council reaches agreement on FIDA
On 4 December 2024, the Council of the EU issued a press release stating that it had reached agreement on the proposed framework for Financia Data Access (FIDA) that aims to open the access of financial institutions to each other’s customer data. The FIDA framework complements the proposed Payment Services Regulation by covering
SRB publishes 2025 Annual Work Programme
On 26 November 2024, the Single Resolution Board (SRB) published its Annual Work Programme for 2025, which sets out its main priorities for the next year (alongside its continued work on standard operations).
The Annual Work Programme for 2025 (which complements the SRB Multi-annual Plan) concentrates on three strategic areas: core business
ESAs final report on joint guidelines on the system for the exchange of information relevant to fit and proper assessments
On 20 November 2024, the European Supervisory Authorities (ESAs) published a final report on joint guidelines on the system established by the ESAs for the exchange of information relevant to the assessment of the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions and financial market
FSB report on legal and regulatory challenges to the use of compensation tools
On 20 November 2024, the Financial Stability Board (FSB) issued a report ‘Legal and regulatory challenges to the use of compensation tools’.
The report identifies potential ways to address challenges in the use of compensation tools and follows guidance that the FSB published in 2018 on the use of compensation tools to
Global Regulation Tomorrow Plus: EMEA Regulatory Insights Podcast Episode 16 – REMIT 2
In the latest podcast in our EMEA regulatory insights series Anna Carrier from our Brussels office discusses the recent changes to the European Regulation on wholesale energy market integrity and transparency (REMIT 2).
In particular we cover:
- The key changes to the Regulation.
- Cross-border impact.
- Algorithmic trading in wholesale energy markets.
- Data reporting.
Listen to
ESAs 2025 work programme – focus on digital resilience and sustainability disclosures
On 7 October 2024, the Joint Committee of the European Supervisory Authorities (ESAs) issued its work programme for 2025.
Among other things the work programme notes that the ESAs will focus on:
- The EU Digital Finance Package. In particular, the ESAs will focus on the set-up and operationalisation of the EU-wide Oversight Framework
Key regulatory dates in October 2024
4 October
UK
On 9 September 2024, the Financial Conduct Authority (FCA) published a Guidance Consultation, GC24/5, setting out proposed changes to its Payment Services and Electronic Money Approach Document to support new legislation to tackle authorised push payment (APP) fraud. The deadline for responses to GC24/5 is 4 October
ESRB speech – Old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis
On 27 September 2024, the European Systemic Risk Board (ESRB) published a speech by Olli Rehn (First Vice-Chair of the ESRB and Governor of the Suomen Pankki) entitled Old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis.
The speech covers three issues – the ESRB’s track record, key
Key dates next week
Global
- N/A
EU
- 29 September 2024 – The European Securities and Markets Authority will start publishing the Designated Publishing Entities Register on 29 September 2024.
UK
- 30 September 2024 – On 26 July 2024, the Financial Conduct Authority (FCA) published several policy papers designed to strengthen the UK’s capital markets. One of these