1. Bank regulation -
1.1 PRUDENTIAL REGULATION -
a) General -
(i) EU -
EC: Report on the future of European competitiveness Status: Final -
The EC has published a report on the future of European competitiveness,...more
10/2/2024
/ Banking Sector ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Legislative Agendas ,
Payment Services Directive ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
UK
1. Bank regulation -
1.1 PRUDENTIAL REGULATION
a) General -
(i) EU -
EBA: Opinion on measures in accordance with Article 458 CRR following a notification by the De Nederlandsche Bank -
Status: Final -
The EBA has published an...more
9/4/2024
/ Banks ,
Capital Markets ,
Commission Delegated Regulation ,
EMIR ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Investment ,
Regulatory Agenda
1. Bank regulation -
1.1 Prudential Regulation -
(a) General -
(i) International -
BCBS: Consultation on report regarding various technical amendments and FAQs -
Status: Consultation -
Deadline for the submission of...more
8/6/2024
/ Anti-Money Laundering ,
Artificial Intelligence ,
Banking Sector ,
Capital Markets ,
Commission Delegated Regulation ,
Digital Assets ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Investment Funds ,
MiFID ,
MiFIR ,
Payment Systems ,
Prudential Standards ,
Sustainable Finance
On 4 July 2024, the European Banking Authority (EBA) published new guidelines on information requirements in relation to transfers of funds and certain cryptoasset transfers under Regulation (EU) 2023/1113 (the recast,...more
On 4 July 2024, the European Securities and Markets Authority (ESMA) published its second package of final draft technical standards under the Markets in Cryptoassets Regulation (MiCAR), including six draft regulatory...more
On 21 May 2024, a bill of law n° 8387 was introduced before the Luxembourg Parliament. Its objective is to amend several pieces of Luxembourg legislation to operationalise various European regulations, in particular...more
New EU legislative requirements will reshape how non-EU (including European Economic Area) banks service EU clients on a cross-border basis. In this note we summarise the new regime, its implications for firms providing...more
The EU is harmonising the rules on the prudential supervision of EU branches of non-EU banks under CRD VI. The new EU-wide third country branch regime will introduce minimum requirements including capital and liquidity...more
1/26/2024
/ Banking Sector ,
Capital Markets ,
Capital Requirements ,
Capital Requirements Regulation (CRR) ,
Cross-Border ,
EU ,
European Banking Authority (EBA) ,
Governance Standards ,
Grandfathering Rules ,
Intergovernmental Agreements ,
Liquidity ,
NCAs ,
Outsourcing ,
Recordkeeping Requirements ,
Reporting Requirements ,
Third Country Entities (TCEs)
Final provisions on cross-border banking services in the EU published -
CRD VI will bring in uniform minimum prudential requirements for third country branches providing banking services in the EU and, more importantly,...more
1/26/2024
/ Banking Sector ,
Basel III ,
Capital Requirements Regulation (CRR) ,
Credit Institutions ,
Cross-Border ,
EU ,
European Commission ,
Final Rules ,
Grandfathering Rules ,
Investment ,
Jurisdiction ,
Liquidity ,
Luxembourg ,
MiFID ,
New Rules ,
Prudential Standards ,
Reverse Solicitation
As the final compromise text of the so-called Instant Payments regulation has just been published, our regulatory payment experts have summarised the key obligations that will apply to payment service providers in this...more
On 16 June 2023, the European Banking Authority (EBA) published a report on the money laundering and terrorist financing (ML/TF) risks associated with payment institutions (PIs) in the EU, based on a risk assessment exercise...more
By a decision rendered on 22 November 2022, the European Court of Justice (the Court) invalidates the provision of the anti-money laundering directive (AMLD) whereby the information on the beneficial owners of corporate and...more
Legislative and regulatory initiatives in the field of sustainable finance, and more particularly in the financial sector, have recently multiplied....more
The future of finance is digital. The increased reliance on technology in finance heightens the vulnerability of ICT systems and worsens the impact of a potential cyberattack. To this end, the European Commission (the...more
On 23 December 2019, a resolution of 11 September 2018 of the European Parliament (the Parliament) on relationships between the EU and third countries concerning financial services regulation and supervision was published in...more
Following its June opinion on the possibility for national competent authorities to work with payment service providers and relevant stakeholders and agree on limited additional time for compliance with the strong customer...more
One of the consequences of the implementation of MiFID II into Luxembourg law is the creation of a new regime for third country firms providing investment services. This new regime is distinct from the regime that is in place...more
By its circular 19/718 (https://bit.ly/2LDTG2k), the CSSF has endorsed the Guidelines on complaints-handling for the securities (ESMA) and banking (EBA) sectors of 4 October 2018 (JC 2018 35) (the Guidelines)....more
As already mentioned in our previous e-Alert of 16 January 2019, payment service providers must provide, at least on an annual basis, statistical data on fraud relating to different means of payment, to the Luxembourg...more
The long awaited Luxembourg act of 13 January 2019 pertaining to the register of beneficial owners (the Act) has just been published in the Official Journal on 15 January 2019. It will enter into force on 1st March 2019....more
By a circular 18/704 of 17 December 2018 (the Circular 18/704), the Luxembourg regulator of the financial sector, the Commission de surveillance du secteur financer (the CSSF) formally endorsed the Guidelines of the European...more
Professionals subject to the law of 12 November 2004 relating to the fight against money laundering and terrorist financing, as amended (the AML Law) (the Professionals) should be aware of a few changes introduced by the law...more