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New Guidance European Union Financial Institutions

A&O Shearman

European Banking Authority Updates on Own Funds and Eligible Liabilities Instruments

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The European Banking Authority has published an updated report on the monitoring of Additional Tier 1, Tier 2 and total loss absorbing capacity as well as the minimum requirement for own funds and eligible liabilities...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU Expands Restrictive Measures in 13th Russian Sanctions Package and Publishes Guidance

On 23 February 2024, the European Union (EU) adopted a 13th package of sanctions against Russia, imposing asset freezes on additional individuals and entities, expanding existing sectoral sanctions and further limiting...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Capital Ratio: Roundup of Upcoming UK Regulatory Reforms for Financial Institutions

UK regulators have recently announced a number of reforms for banks and other financial institutions. - On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU Commission Issues Guidance for EU Companies on Enhanced Due Diligence To Prevent Sanctions Circumvention

On 7 September 2023, the European Commission (Commission) published a guidance note (the Guidance) for EU businesses on the circumvention of sanctions. The Guidance outlines the essential components for a company’s compliance...more

Latham & Watkins LLP

Privacy and Payments: New Draft EU Advice for Financial Institutions

Latham & Watkins LLP on

As contactless transactions boom, EU regulators publish draft guidelines on the interplay between the GDPR and PSD2. Last year, more than half of all payments in the UK were made by card and contactless methods, while cash...more

A&O Shearman

European Banking Authority Publishes Revised Guidelines on Outsourcing Arrangements

A&O Shearman on

The European Banking Authority has published revised Guidelines on outsourcing arrangements. The guidelines are intended to update and replace outsourcing guidelines issued in 2006 (by the EBA's predecessor, the Committee of...more

Dechert LLP

Investment Funds Update – Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Dechert LLP on

Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019 - The Government of Ireland approved the general scheme of drafting of the Criminal Justice (Money Laundering and Terrorist Financing)...more

A&O Shearman

European Securities and Markets Authority Issues Final Guidelines for Position Calculation by Trade Repositories

A&O Shearman on

The European Securities and Markets Authority has published finalized Guidelines on position calculation by trade repositories under the European Market Infrastructure Regulation. ESMA consulted on a draft version of the...more

A&O Shearman

Financial Action Task Force Publishes Guidance on Correspondent Banking Services

A&O Shearman on

The Financial Action Task Force published Guidance on correspondent banking services, which it has developed in collaboration with the Financial Stability Board. The Guidance is in response to increased concerns about...more

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