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The EBA amends its Guidelines on ICT and security risk management measures in the context of DORA application
The European Banking Authority (EBA) narrowed down the scope of its existing Guidelines on ICT and security risk management measures, due to the application of harmonised ICT risk management requirements under the Digital Operational Resilience Act (DORA) from 17 January 2025. These amendments aim at simplifying the ICT risk management framework and providing legal clarity to the market.
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ESMA publishes the results of the survey on legal entities identifiers
ESMA publishes the results of the survey on legal entities identifiers 03 February 2025 Digital Finance and Innovation Market data The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today published the results of the survey conducted last October on legal entities identifiers. The survey gathered evidence on the impacts of including alternatives for reporting, disclosure or record keeping requirements. The results show: strong engagement of the industry on the topic (136 respondents), very high costs associated with gearing the reporting systems of financial firms towards additional identifiers (on average 360k Euros per firm and with a median of 40k Euros), an overwhelming preference for the Legal Entity Identifier (LEI) as the legal entity identifier for reporting (86% of respondents), and pan-EU associations making constructive suggestions to improve EUID automation and its interoperability with LEI to reduce the burden and avoid duplications. The full results
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ESMA consults on CCP Authorisations, Extensions and Validations
ESMA consults on CCP Authorisations, Extensions and Validations 07 February 2025 CCP The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today launched two public consultations following the review of the European Market Infrastructure Regulation (EMIR 3). ESMA is encouraging stakeholders to share their views on: the conditions for extensions of authorisation and the list of required documents and information for applications by central counterparties (CCPs) for initial authorisations and extensions, and the conditions for validations of changes to CCP’s models and parameters and the list of required documents and information for applications for validations of such changes. EMIR 3 introduces several measures to make EU clearing services and EU CCPs more efficient and competitive, notably by streamlining and shortening supervisory procedures for initial authorisations, extensions of authorisation and validations of changes to models and parameters. Next steps The deadline for responses to the
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ESMA provides guidance on MiCA best practices
ESMA provides guidance on MiCA best practices 31 January 2025 Digital Finance and Innovation Supervisory convergence The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today a new supervisory briefing aiming to align practices across the EU member states. The briefing, developed in close cooperation with National Competent Authorities (NCAs), promotes convergence and prevents regulatory arbitrage, providing concrete guidance about the expectations on applicant Crypto Asset Service Providers (CASPs), and on NCAs when they are processing the authorisation requests. For example, the briefing contains clear guidance on: Substance and governance and the ability of CASPs offering their service in the EU to operate autonomously and with sufficient in-country personnel. Outsourcing and the effective limits to set regarding the externalisation of functions and services. Suitability of personnel and the importance for CASPs, and particularly its executive management, to demonstrate effective technical knowledge of the crypto ecosystem. The guidance in
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ESMA’s conference “Shaping the future of EU capital markets” results
ESMA’s conference “Shaping the future of EU capital markets” results 06 February 2025 About ESMA The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator and supervisor, welcomed 300 participants in person (and around 1000 more connected online) to its key conference in Paris. During a successful day we heard keynote speeches from Maria Luís Albuquerque, Commissioner for Financial Services and the Savings and Investments Union, Jacques de Larosière, author of the Larosière report, and Verena Ross, Chair of ESMA. The conference brought together a diverse group of participants, including policymakers, journalists, regulators, and industry professionals, enriching the discussions and contributing to a comprehensive exploration of key topics. During the event, the three panels and a fireside discussion focused on: concrete ideas to make the Savings and Investments Union (SIU) a reality, addressing the funding gap, and fostering a culture of retail investment. These discussions aimed to empower
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ESMA publishes data for quarterly bond liquidity assessment
ESMA publishes data for quarterly bond liquidity assessment 31 January 2025 Market data Trading The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published the new quarterly liquidity assessment of bonds. As indicated previously quarterly publication of systematic internalisers (SI) have been (see ESMA’s news item). Bonds quarterly liquidity assessment ESMA has published the latest quarterly liquidity assessment for bonds available for trading on EU trading venues. For this period, there are currently 1,342 liquid bonds subject to MiFID II transparency requirements. ESMA’s liquidity assessment for bonds is based on a quarterly assessment of quantitative liquidity criteria, which includes the daily average trading activity (trades and notional amount) and the percentage of days traded per quarter. ESMA updates the bond market liquidity assessments quarterly. However, additional data and corrections submitted to ESMA may result in further updates within each quarter, published in ESMA’s Financial Instruments Transparency
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ESMA contributes to simplification and burden reduction
ESMA contributes to simplification and burden reduction 07 February 2025 Financial reporting Market data Press Releases The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, will be supporting the European Commission’s objective to simplify and reduce the reporting burden in the financial sector. The ESMA Board of Supervisors discussed in December 2024 how to best contribute to efficient simplification and burden reduction actions, while preserving the main objectives of financial stability, orderly markets and investor protection. Verena Ross, ESMA Chair, said: “At ESMA we aim to play our part in simplifying the regulatory framework and in reducing unnecessary reporting burdens where feasible. This work should not be about deregulation but about avoiding duplications and streamlining some of the reporting requirements for market participants”. “A concrete example is the proposed change related to data reporting for transparency purposes under the MiFIR regime. The reuse of already
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Reviewed supervisors overall applied the EBA’s recommendations on tax integrity and dividend arbitrage trading schemes, the EBA Report finds.
The European Banking Authority (EBA) today published a Peer Review assessing the effectiveness and degree of supervisory convergence of issues relating to tax integrity and dividend arbitrage trading schemes following the implementation of its 2020 Action plan on dividend arbitrage trading schemes. The action plan aimed to clarify that supervisors, while not responsible for investigating tax crimes, have responsibility for ensuring that financial institutions have systems and controls in place to manage tax crime risks.
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EBA reflects on the short/medium term objectives of its interest rate risk in the banking book Heatmap
The European Banking Authority (EBA) today published a Report on the short to medium term objectives of its interest rate risk in the banking book (IRRBB) Heatmap, including observations and recommendations to institutions and supervisors.
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The EBA issues an Opinion in response to the European Commission’s proposed amendments to the EBA draft technical standards on conflicts of interests for issuers of asset-referenced tokens
The European Banking Authority (EBA) today published an Opinion on the amendments proposed by the European Commission (EC) to the EBA draft Regulatory Technical Standards (RTS) on conflicts of interests for issuers of asset-referenced tokens. The EBA agrees with the substantive changes proposed by the EC, which favour proportionality, as well as with the other amendments which are considered non-substantives.
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The EBA publishes its draft final technical standards on reporting of data on charges for credit transfers and payments accounts, and shares of rejected transactions
The European Banking Authority (EBA) today published its final draft Implementing Technical Standards (ITS) on reporting of data on charges for credit transfers and payments accounts, and shares of rejected transactions. The ITS deliver on the mandate in the Instant Payment Regulation (IPR) amending the SEPA Regulation, and aim at standardising reporting from banks, payment institutions and e-money institutions (i.e. Payment Service Providers - PSPs) to their National Competent Authorities. The reported data will help to ensure consumers benefit from access to instant credit transfers, and that the latter are no longer more expensive than regular credit transfers. Following its public consultation, the EBA has postponed the first harmonised reporting from PSPs by 12 months, from April 2025 to April 2026.
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1st meeting of AI Correspondents Network: community, compliance and collaboration
1st meeting of AI Correspondents Network: community, compliance and collaboration julia Mon, 01/27/2025 - 14:06 Mon, 01/27/2025 - 12:00 EDPS organises meeting of AI Correspondents Network to collaborate on three key pillars community, compliance and collaboration. Read Blogpost. 0
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Data Protection Day 2025!
Data Protection Day 2025! miriam Fri, 01/24/2025 - 14:55 Tue, 01/28/2025 - 12:00 Every year on 28 January, we celebrate Data Protection Day. This date marks the anniversary of the Council of Europe’s Convention 108, the first binding international law securing individuals' rights to protection of their personal data. Read our factsheets to learn more about your rights 1 Read our factsheets to learn more about your rights
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Patrick Montagner: Interview with Forvis Mazars on the ECB’s supervisory priorities and 2025 EU-wide stress test
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EBA publishes an Opinion on the interaction between the output floor and Pillar 2 requirements
The European Banking Authority (EBA) today published an Opinion on the interaction between the output floor and Pillar 2 Requirements (P2R) in the context of the mandate set forth in the Capital Requirements Directive (CRD). The Opinion considers that the nominal amount of P2R is not to increase as a result of an institution becoming bound by the output floor and highlights the possibility of double counting in setting the P2R of risks already covered by the effects of a binding output floor.
Newsadmin2024-12-19T15:05:22+02:00
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