Latest news of financial regulation
08 April 2016
The European Securities and Markets Authority (ESMA) published the responses received to the Discussion Paper Benchmarks Regulation.
11 April 2016
The Basel Committee on Banking Supervision issued the tenth progress report on adoption of the Basel regulatory framework. This report sets out the adoption status of Basel III standards for each Basel Committee on Banking Supervision (BCBS) member jurisdiction as of end-March 2016. It updates the Committee's previous progress reports which have been published on a semiannual basis since October 2011 under the Committee's Regulatory Consistency Assessment Programme (RCAP).
08 April 2016
The European Securities and Markets Authority (ESMA) published a new question and answer document (Q&A) on the application of the Markets in Financial Instruments Directive (MiFID) to the marketing and sale of financial contracts for difference (CFDs) and other speculative products to retail clients (such as binary options and rolling spot forex).
ESMA publishes responses to the consultation on guidelines on transaction reporting, reference data, order record keeping & clock synchronisation
ESAS identify vulnerabilities affecting the EU financial system and suggest actions to address the main risks
07 April 2016
The Joint Committee of the European Supervisory Authorities (EBA, EIOPA, ESMA - ESAs) published its Spring 2016 Report on Risks and Vulnerabilities in the EU Financial System. The Joint Committee highlights three main risks affecting the European financial system and suggests a set of policy actions to tackle those risks.
07 April 2016
The Joint Committee of the European Supervisory Authorities (EBA, EIOPA, ESMA - ESAs) finalised its proposal for regulatory technical standards (RTS) on Key Information Documents (KIDs) for Packaged Retail and Insurance-based Investment Products (PRIIPs).
06 April 2016
The European Banking Authority (EBA) published the periodical update of its Risk Dashboard summarising the main risks and vulnerabilities in the banking sector on the basis of the evolution of a set of Risk Indicators (RI) across the EU in Q4 2015. The update shows a further increase in EU banks' capital ratios. Profitability remains low and NPL ratios are still high.
06 April 2016
The European Securities and Markets Authority (ESMA) updated its Questions and Answers document (Q&A) on prospectus related issues. The Q&A includes two new questions and answers on the capitalisation and indebtedness table and the validity of the base prospectus.
30 March 2016
Commission Delegated Regulation (EU) 2016/451 of 16 December 2015 laying down general principles and criteria for the investment strategy and rules for the administration of the Single Resolution Fund has been published in the O.J. of the EU.
This Regulation shall enter into force on 19 April 2016.
01 April 2016
The European Banking Authority (EBA) published updated Questions and Answers (Q&A) on single rulebook.
The Q&A relate to:
30 March 2016
The European Banking Authority (EBA) published a Report on remuneration practices. It shows that the number of high earners in EU banks increased significantly in 2014, while the average ratio between the variable and fixed remuneration dropped significantly for high earners, as well as for all other identified staff.
The report, which is part of the regular activities of the Authority, focuses on the identification of staff, the application of deferral arrangements, the pay-out in instruments and the impact of the bonus cap on institutions financial stability and cost flexibility, which was found to have no significant effect. The report differentiates between data on the remuneration of “high-earners” and benchmarking data for “identified staff”.
23 March 2016
The European Banking Authority (EBA) published a Report on small and medium enterprises (SMEs) which analyses (i) the evolution of lending trends and conditions for SMEs, (ii) the effective riskiness of EU SMEs over a full economic cycle and (iii) the consistency of own funds requirements laid down in the Capital Requirements Regulation (CRR) for credit risk on exposures to SMEs. Overall, the results of the EBA analysis show limited effectiveness of the SME Supporting Factor (SF). However, more data is needed before drawing firm conclusions and, therefore, the EBA recommends continued monitoring of the application of the SF.
06 April 2016
The European Banking Authority (EBA) launched a public consultation on draft amending Regulatory Technical Standards (RTS) on credit valuation adjustment (CVA) proxy spread. These RTS propose limited amendments to Commission's Delegated Regulation (EU) No 526/2014 based on two policy recommendations contained in the EBA's CVA report published on 25 February 2015. Through the proposed amendments the EBA expects to ensure a more adequate calculation of own funds requirements for CVA risk.
The consultation runs until 06 July 2016.
BCBS releases a consultative document entitled Revisions to the Basel III leverage ratio framework, and responses to a third set of frequently asked questions (FAQs)
06 April 2016
The Basel Committee on Banking Supervision released a consultative document entitled Revisions to the Basel III leverage ratio framework, and responses to a third set of frequently asked questions (FAQs). The Basel III framework introduced a simple, transparent, non-risk-based leverage ratio to act as a supplementary measure to the risk-based capital ratio. This consultative document proposes a set of changes to the standard released in January 2014. The proposed changes to the framework are an important element of the regulatory reform programme that the Basel Committee has committed to finalise by end-2016.
EIOPA consults on amendments for the supervisory reporting templates and Guidelines on Reporting and Disclosure under Solvency II
05 April 2016
The European Insurance And Occupational Pensions Authority (EIOPA) published a consultation paper on the proposal for amendments to implementing technical standards on the templates for the submission of information to the supervisory authorities and to eiopa guidelines on reporting and disclosure following the amendment to the solvency ii delegated act.
The consultation period will end on 3 May 2016.
04 April 2016
The European Securities and Markets Authority (ESMA) sees no need to temporarily exclude exchange-traded derivatives (ETDs) from non-discriminatory access to central counterparties (CCPs) and trading venues, which will be introduced by the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
ESMA’s analysis found that open access to ETDs does not create undue risks to the overall stability and orderly functioning of European financial markets. As potential risks relating to open access are already addressed by the legislative frameworks of MiFID II, MiFIR and EMIR – the European Markets Infrastructure Regulation – ESMA proposed to the European Parliament and Council not to introduce an ETD specific phase-in regarding the access provisions of MiFID II.
05 April 2016
The Committee on Payments and Market Infrastructures (CPMI) and the World Bank Group issued the final report on Payment aspects of financial inclusion. This builds on an earlier version of the report that underwent public consultation in late 2015 and seeks to tackle barriers to the adoption and usage of transaction accounts, which sit at the heart of retail payment services.
ECB publishes the list of significant supervised entities and the list of less significant institutions
05 April 2016
The ECB published a list containing the name of each supervised entity and supervised group which is directly supervised by the ECB (“significant supervised entity” and “significant supervised group”, as defined in Article 2, points (16) and (22) of the SSM Framework Regulation4 ). The names of the group entities are listed in alphabetical order within each Member State. The specific grounds for such direct supervision are indicated and, in the case of a classification as significant on the basis of the size criterion, the total value of the supervised entity’s or the supervised group’s assets, at consolidated level.
The ECB has also published the list of entities supervised by a national competent authority (NCA).
- Last Update: Thursday 05 May 2016, 14:57.
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