News & Analysis as of October 19, 2024

Financial Institutions

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Zooming In on AI - #6: AI under financial regulations in the U.S., EU and U.K.

A&O Shearman on 10/8/2024

Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...more

Regulatory monitoring: EU version Newsletter - September 2024

A&O Shearman on 10/2/2024

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

DORA: Just Over Three Months Until Take Off

Latham & Watkins LLP on 9/30/2024

The deadline is fast approaching for in-scope financial entities and their ICT service providers to conform to the EU’s new digital operational resilience regulation. With effect from 17 January 2025, a broad range of EU...more

The EU’s Digital Operational Resilience Act 2022/2554 (DORA)

BCLP on 9/23/2024

Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more

Regulatory monitoring: EU version Newsletter - August 2024

A&O Shearman on 9/4/2024

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

Regulatory monitoring: EU version Newsletter - July 2024

A&O Shearman on 8/6/2024

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

Regulatory monitoring - July 2024

A&O Shearman on 8/6/2024

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

Brussels Regulatory Brief: June 2024

K&L Gates LLP on 7/29/2024

Antitrust and Competition - The European Commission to Take Action to Address Territorial Supply Constraints - On 24 May 2024, the EU Commissioner for Competition, Margrethe Vestager, announced that the European Commission...more

EU Statement on Transition of OTC-Transactions to New Post-Trade Transparency Regime

A&O Shearman on 7/22/2024

The European Securities and Markets Authority has published a public statement on the transition to the new regime for post-trade transparency of OTC-transactions in light of the revised Markets in Financial Instruments...more

Offensive Security Under the EU Digital Operational Resilience Act (DORA)

Venable LLP on 7/19/2024

The Digital Operational Resilience Act (DORA) regulation is part of the European Union’s (EU) strategy to enhance the overall stability of the EU financial system by ensuring that financial entities are resilient to digital...more

On the existence of a pan-European reverse solicitation regime under MIFID II, and importance on a 'Hard' BREXIT

A&O Shearman on 7/12/2024

This client memorandum concerns a highly technical point of considerable practical importance. It challenges aspects of the received wisdom that, for post-Brexit cross-border investment business conducted from the U.K....more

Delegated Regulation Published on Sustainability Impact Disclosures for Simple, Transparent and Standardized Securitizations under...

A&O Shearman on 7/3/2024

Commission Delegated Regulation (EU) 2024/1700 has been published in the Official Journal of the European Union, supplementing the EU Securitization Regulation with regard to RTS specifying, for simple, transparent, and...more

Regulatory monitoring: EU version Newsletter - March 2024

A&O Shearman on 4/2/2024

1. Bank regulation- 1.1 Prudential regulation- (a) General- (i) International- BCBA: Basel III monitoring report- Status: Final- BCBS has published its latest monitoring report setting out the impact of the Basel III...more

Key Regulatory Topics: Weekly Update 8 - 14 Mar 2024

A&O Shearman on 3/20/2024

There were some key publications this week in relation to financial crime, including a Commission request for the EBA to advise on standards and guidelines under the future AML/CFT framework in Europe and, in the UK, an HMT...more

Regulatory monitoring: EU version - December 2023

A&O Shearman on 1/10/2024

1. Bank regulation - 1.1 Prudential regulation - (a) General - (i) EU - EBA: Roadmap on strengthening the Prudential framework - Status: Final - The EBA has published its roadmap on the Banking Package, which...more

Regulatory monitoring: EU version - October 2023

A&O Shearman on 11/2/2023

The EBA has published the European Supervisory Examination Programme (ESEP) for 2024, which identifies key topics for heightened supervisory attention across the EU. The EBA selected three key topics for supervisory attention...more

EU Authority Seeks Feedback on Potential Shorter EU Settlement Cycle

A&O Shearman on 10/18/2023

The European Securities and Markets Authority has opened a call for evidence on shortening the settlement cycle in the EU. The existing EU settlement cycle for trades in transferable securities executed on trading venues is...more

The UK and Europe Introduce New Securitisation Rules

Cadwalader, Wickersham & Taft LLP on 7/24/2023

The UK and Europe have released a number of updated requirements for securitisations that, while not effecting material changes, are notable in their scope and number. Below, we give a brief guide to these changes and their...more

European Financial Regulators Define Greenwashing, Outline Risks and Propose Mitigation Approaches

Cadwalader, Wickersham & Taft LLP on 7/18/2023

In progress reports to the European Commission (EC) published on June 1, 2023, the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA) and European Securities and Markets Authority...more

EU Supervisory authorities launch consultation on the first batch of ICT security documentation under DORA

A&O Shearman on 6/29/2023

The European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA) (together the European Supervisory authorities or ESAs)...more

Adoption of the European Commission's retail investment strategy

Walkers on 6/28/2023

On 24 May 2023, the European Commission (the "Commission") adopted and published its retail investment strategy ("RIS") a key tenet of its Capital Markets Union Action Plan (the "CMU Action Plan"). One of the core objectives...more

ESG Ratings: Who rates the ‘raters’?

A&O Shearman on 6/13/2023

Environmental, social and governance (ESG) ratings are increasingly used by investors, lenders and regulators to assess the sustainability performance of companies. They can, for example, assess an entity’s exposure to, and...more

Regulatory monitoring: EU version - April 2023

A&O Shearman on 5/4/2023

Our monthly regulatory newsletter monitors all relevant developments regarding European regulatory law in English language. ...more

Key Regulatory Topics: Weekly Update 24 - 30 Mar 2023

A&O Shearman on 4/10/2023

Amongst the updates this week, the Council of the EU published a table comparing the initial position of the Commission, and the negotiating positions of the Council and the EP on the proposal for a Directive amending the...more

Regulatory monitoring: EU version - February 2023

A&O Shearman on 3/2/2023

Our monthly regulatory newsletter monitors all relevant developments regarding European regulatory law in English language. ...more

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