Events listed in Capital Markets
ESMA to launch and participate in Common Supervisory Action on ESG disclosures for ...
ID 26228
ESMA is set to initiate a CSA in collaboration with NCAs on ESG disclosures within the framework of the BMR. This marks ESMA’s first CSA as a direct supervisor of Benchmarks Administrators. The CSA will primarily focus on evaluating compliance with ESG disclosure requirements in the BMR for supervised Benchmarks Administrators, whether located in the EU or a third country. Key areas of scrutiny ...
SEC Adopts Rules to Improve Risk Management in Clearance and Settlement and ...
ID 26227
The U.S. Securities and Exchange Commission (SEC) has published its final rule aimed at enhancing risk management practices of central counterparties (CCPs) and promoting the clearing of U.S. government securities. The final rules comes after an extensive consultation which was launched in September 2022 (please see EventID 17315 in this context for more detailed, comprehensive information). #### Background To recall, in an effort enhance ...
UCITS marketing notifications – Guidelines on cross-border marketing ...
ID 26226
Following the previous communication by the CSSF on 15 November 2023 (see eventid=23993), in which the CSSF reminded of its CSSF Circular 22/810 on 12 May 2022 which informed Luxembourg UCITS of the upcoming changes to the marketing notification and de-notification procedures for shares in another Member State, the CSSF published a new communication, informing concerned supervised entities that **a new version of the ...
Benchmark Determination Methodology for EURIBOR
ID 26224
EMMI anounced it successfully completed the 3rd annual review of the Euribor Benchmark Determination Methodology, unequivocally attesting the robustness, reliability, and resilience of their approach. This validation underscores EMMI’s commitment to maintaining high standards in their processes. As a reminder, the EURIBOR Benchmark Determination Methodology includes contribution levels and eligibility criteria and offers guidelines for EURIBOR determination. It outlines ...
Consultation Paper on Proposals to Mandate Reference Checks
ID 26221
The Monetary Authority of Singapore (MAS) has published a consultation outcome paper on a consultation that was launched back in 2021 on proposed requirements to perform and respond to mandatory reference checks for certain employees of a company (please see EventID 10912 for a detailed description of the consultation). The requirements would apply to a large number of supervised firms, including brokers, fund management ...
FCA writes to firms about the treatment of retained interest on customers’ cash ...
ID 26220
The FCA has investigated 42 firms on their practices in dealing with earned interest on customers‘ cash balances, as these have risen in the last 18-24 months with the rise of the interest rates. Most of these investment platforms and SIPP operators retain part of the earned interest and additionally charge a fee for the cash, which is a practice called „double dipping“. Customers ...
Russia-related Designations and Designations Updates; Issuance of Russia-related ...
ID 26219
The Office of Foreign Assets Control (OFAC) has published a press release to announce extensive new sanction measures to impose further restrictions on individuals and entities (including ships) engaged in or used for the purchase of goods for the benefit of the Russian military. Specifically, OFAC is designating numerous additional individuals, entities, and vessels in accordance with amended Executive Order (E.O.) 14024 which permits ...
Council Implementing Regulation (EU) 2023/2798 concerning restrictive measures in ...
ID 26218
Council Implementing Regulation (EU) 2023/2798 regarding sanction measures „in view of the situation in Mali“ has been published in the Official Journal (OJ) of the EU. The regulation modifies Annex Ia of Council Regulation (EU) 2017/1770 which sets out a list of sanctioned individuals, entities, and bodies by updating and entirely replacing the records of two already sanctioned persons following a recent review of ...
EBA issues revised list of ITS validation rules
ID 26216
EBA has issued a revised list of validation rules in its ITS on supervisory reporting, thereby focusing on data fields that have been deactivated either for incorrectness or for triggering IT problems. Failure to comply with validation rules of type „error“ when submitting data to EBA will result in the file being rejected and thus the transmission not being processed. If reporting entities consider ...
The EU banking sector remains resilient despite pockets of risk stemming from the ...
ID 26215
EBA has released its annual risk assessment of the EU banking system, accompanied by the 2023 EU-wide transparency exercise. The report indicates the resilience of the EU banking sector post the March banking turmoil, with high capitalization, a strong CET1 ratio at 16%, and underlying profitability supporting bank payouts. Despite elevated interest rates contributing to widening interest margins, there are potential risks due to ...