This Friday (17 January) the EU Digital Operational Resilience Act, DORA, comes into force and, unusual for EU legislation, there are no transitional provisions meaning the legislation comes into effect immediately.
The European Securities and Markets Authority has already warned that financial entities should identify and address gaps between their internal set ups and DORA’s
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 Although the new Commission’s work programme for 2025 will not be published until 11 February 2025, there are a number of new initiatives within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 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 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.
On 20 December 2024, the Governing Council of the European Central Bank (ECB) issued a statement concerning the ECB’s framework for assessing capital buffers of other systemically important institutions (O-SIIs).
Among other things the statement notes that:
On 19 December 2024, the European Securities and Markets Authority (ESMA) issued a statement regarding the transitional regime for crypto asset service providers (CASPs) under Article 143(3) of the Regulation in markets in crypto assets (MiCAR).
Article 143(3) of the MiCAR states that “Crypto-asset service providers that provided their
On 19 December 2024, the European Securities and Markets Authority (ESMA) issued the 2024 edition of its Market Share Report of credit rating agencies (CRAs). The Market Share Report provides a list of registered CRAs indicating total market share for each.
Article 8d(1) of the CRA Regulation provides that where issuers