First Advantage’s Post

@MIFID fans, ESMA consults on a future version of execution policies to upgrade its current RTS (likey by end of year). To quote ESMA's text: "This Consultation Paper presents a draft version of the Technical Standards on investment firms’ order execution policies that ESMA is due to submit to the European Commission according to the MiFID II review. Section 2 sets out the key steps of the co-legislators which resulted in the MiFID II review text. Section 3 sets out the legal and policy backgrounds of the proposed draft RTS as well as the key elements included in the draft RTS. Annex I summarises the questions to stakeholders, Annex II contains the full text of the draft RTS." Accordingly, financial institutions might happily consider a review of their current policies for next year, probably as a step-up to the upcoming RIS strategy." More details in the link below.

[Regulatory news 📰] The Commission Implementing Regulation (EU) 2024/1618 of June 6, 2024, amending Implementing Regulation (EU) 2021/763 laying down implementing technical standards (ITS) for the application of the Capital Requirements Regulation (#CRR) and the Bank Recovery and Resolution Directive (#BRRD) with regard to the supervisory reporting and public disclosure of the minimum requirement for own funds and eligible liabilities (#MREL) was published in the Official Journal of the EU. The regulation enters into force on June 27, 2024 and should be applied from December 27, 2024. Changes introduced to the draft ITS meant that they were not applicable according to the EBA's originally planned timeline, but rather first with DPM 3.5 for reporting date 31.12.2024. Read more: https://hubs.la/Q02C0_Km0

[Regulatory news 📰] The European Banking Authority (EBA) launched a public consultation—to run until August 19, 2024—on its draft guidelines under Article 126a(3) of the Capital Requirements Regulation (#CRR3) specifying the conditions necessary for the assignment of a risk weight of 100% instead of 150% for acquisition, development and construction (ADC) exposures to residential property. ➡️ Read more: https://hubs.la/Q02zckmp0

The Financial Stability Board (FSB) will explore the adequacy of public sector backstop funding mechanisms and ways for resolution authorities to respond to the speed of bank runs. https://lnkd.in/gaQP_Bur

[#FinanceForGood] Globally, there are increasing regulatory expectations for financial institutions to disclose and demonstrate how sustainability-related responsibilities are allocated to board members, across organisational structures and to relevant internal functions. What types of governance structure and management information are being adopted by banks and insurers in response? Find out in our new report: https://lnkd.in/eNdFZMZ3 #SustainableFinance

Last week, the Prudential Regulation Authority (PRA) hosted a pilot roundtable on innovation with PRA-regulated banks, insurers, and wider stakeholders to discuss how PRA regulation can facilitate innovation safely in the UK financial sector. Participants provided valuable insights during the discussions, including on the possible trade-off between adopting a principles-based approach to regulation and providing greater clarity in the PRA’s rules, and the mechanisms for enabling effective engagement between the PRA and industry on innovation. Read the summary and key takeaways from the roundtable here: https://b-o-e.uk/3WxeDOY

Globally, there are increasing regulatory expectations for financial institutions to disclose and demonstrate how sustainability-related responsibilities are allocated to board members, across organisational structures and to relevant internal functions ♻ What types of governance structure and management information are being adopted by banks and insurers in response? Find out in our new report ➡ https://lnkd.in/eJ-4Jebm #SustainableFinance #FinanceForGood

[#FinanceForGood] Globally, there are increasing regulatory expectations for financial institutions to disclose and demonstrate how sustainability-related responsibilities are allocated to board members, across organisational structures and to relevant internal functions. What types of governance structure and management information are being adopted by banks and insurers in response? Find out in our new report: http://maza.rs/6041iVPBd #SustainableFinance

Identifying and tackling frictions in the UK-US regulatory regimes for global banks: Regulatory Reporting & Disclosure · Tax · Sustainability · Policy & Guidance · Data & Research. Events & Training. UK Finance delivers an extensive ... #regulatoryreporting #regulation #finperform

European Securities and Markets Authority (ESMA) publish #MiFIR review consultation package ESMA have today launched a public consultation on non-equity trade transparency, reasonable commercial basis (RCB) and reference data under the Markets in Financial Instruments Regulation (MiFIR) review. ESMA’s proposals aim at enhancing the information available to stakeholders by improving, simplifying and further harmonising transparency in capital markets. View document here https://lnkd.in/eN5F-VDY