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European Commission Financial Services Industry European Supervisory Authorities (ESAs)

Goodwin

EU Commission Regulations on Digital Operational Resilience: A Reminder That DORA is Less Than Three Months Away and Will Apply to...

Goodwin on

The European Commission’s adoption on 23 October 2024 of the two regulations (Regulations) supplementing the [the Regulation on digital operational resilience for the financial sector Publications Office (europa.eu)] (DORA)...more

K&L Gates LLP

Brussels Regulatory Brief: October 2024

K&L Gates LLP on

On 18 September 2024, the General Court of the European Union (General Court) largely upheld the fine imposed by the European Commission (Commission) finding that a global tech company had engaged in predatory pricing of its...more

Goodwin

EU AI Act: Key Points for Financial Services Businesses

Goodwin on

The European Union (EU) Artificial Intelligence Act (AI Act), Regulation (EU) 2024/1689 of the European Parliament and of the Council of 13 June 2024 laying down harmonised rules on artificial intelligence and amending...more

Hogan Lovells

Final report on DORA subcontracting RTS published

Hogan Lovells on

On 26 July 2024, the three European Supervisory Authorities (EBA, EIOPA and ESMA) published the final report on the draft Regulatory Technical Standards relating to subcontracting ICT services supporting critical or important...more

A&O Shearman

European Commission Consults on Artificial Intelligence in the Financial Sector

A&O Shearman on

The European Commission has published a consultation on the use of artificial intelligence in the financial sector. The consultation aims to aid the Commission in developing guidance for the financial sector across all market...more

Goodwin

The EU Sustainable Finance Package: key points for private fund managers

Goodwin on

On 13 June the European Commission (the Commission) published a new package of measures to bolster the EU sustainable finance framework.  Its aim is to: “ensure that the EU sustainable finance framework continues to...more

Walkers

ESAs Report on Greenwashing in the financial sector

Walkers on

On 1 June 2023, the three European Supervisory Authorities (the “ESAs”) published their respective progress reports (ESMA, EBA and EIOPA) in response to a request for their input from the European Commission (the...more

Hogan Lovells

ESAs publish consultation paper proposing amendments to the RTS supplementing EU SFDR

Hogan Lovells on

On 12 April 2023, the three European Supervisory Authorities (EBA, EIOPA and ESMA, together the ESAs) published a joint consultation paper in response to their joint mandate to review and revise the RTS supplementing SFDR....more

Proskauer Rose LLP

Regulation Round Up - October 2022

Proskauer Rose LLP on

Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more

A&O Shearman

European Supervisory Authorities Launch Call for Evidence on the EU's Packaged Retail and Insurance-based Investment Products...

A&O Shearman on

The European Supervisory Authorities have launched a call for evidence on the EU's Packaged Retail and Insurance-based Investment Products Regulation. The PRIIPs Regulation requires manufacturers of PRIIPs to produce a...more

Akin Gump Strauss Hauer & Feld LLP

EU Guidance Clarifies SFDR Extraterritorial Application and Scope of Article 8

The European Securities and Markets Authority (ESMA) published on 23 July 2021 the guidance provided by the European Commission (EC) in response to a number of questions posed by the European Supervisory Authorities (ESAs) in...more

Proskauer Rose LLP

Regulation Round Up - January 2021

Proskauer Rose LLP on

29 January - The Joint Committee of the European Supervisory Authorities (“ESAs”) (that is, the EBA, EIOPA and ESMA) published two consultation papers on the mapping of external credit assessment institutions' (“ECAIs”)...more

White & Case LLP

A Few Words on DORA – Proposal for Regulation on Digital Operational Resilience in Financial Sector

White & Case LLP on

The financial sector is greatly dependent on information and communication technologies (ICT). The importance of ensuring remote access to financial services increased to an even greater extent during the COVID-19 pandemic,...more

A&O Shearman

EU High-Level Forum Sets Out Vision for European Capital Markets

A&O Shearman on

The European Commission’s High-Level Forum on the Capital Markets Union has published an interim report setting out its vision for the future of European capital markets. The CMU is an EU initiative which aims to enhance...more

A&O Shearman

EU Recommendations to Combat Undue Short-Term Pressure From Financial Sector on Corporates

A&O Shearman on

The European Supervisory Authorities have each published advice to the European Commission on undue short-term pressure from the financial sector on corporations. The ESAs comprise the European Banking Authority, the European...more

A&O Shearman

European Commission Confirms Fitness of EU Supervisory Reporting Requirements for Financial Services

A&O Shearman on

The European Commission has published the results of its “fitness check” of EU supervisory reporting requirements.  The reporting requirements imposed by EU and national regulatory authorities require regulated institutions...more

A&O Shearman

EU Credit Rating Equivalence Decisions Repealed for Some; Reaffirmed for Others

A&O Shearman on

A series of Implementing Decisions on the equivalence with the EU Credit Rating Agencies Regulation of the credit rating regimes of certain non-EU countries have been published in the Official Journal of the European Union....more

Orrick - Finance 20/20

European Commission Publishes Communication on Equivalence Policy With Non-EU Countries

On July 29, the European Commission published a communication (and annex) on equivalence in the area of financial services. ...more

A&O Shearman

European Commission Requests Report on Potential Undue Short-Term Pressure by Financial Service Participants on Corporations

A&O Shearman on

The European Commission issued a call for advice to each of the European Supervisory Authorities requesting evidence and possible advice on potential undue short-term pressure by financial service participants on...more

Proskauer Rose LLP

Regulation Round Up - April 2018

Proskauer Rose LLP on

3 April - The Financial Conduct Authority ("FCA") published a press release, warning that it intends to take action against general insurance firms that fail to properly implement the rules aimed at increasing...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

CFTC Comparability Determination on EU Margin Requirements and a Common Approach on Trading Venues - On October 13, 2017, the U.S. Commodity Futures Trading Commission ("CFTC") announced determinations by the CFTC and the...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

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