Events listed in draft
SR-FINRA-2023-017
ID 26003
On November 29, 2023, the Financial Industry Regulatory Authority, FINRA, announced on its website that **it has filed with the Securities and Exchange Commission (SEC) proposed rule changes for immediate effectiveness to make conforming adjustments to its rules in relation to the SEC’s final regulation (EventID 19797) to shorten the standard settlement cycle for most broker-dealer securities transactions from two business days (T+2) to ...
2023/0443/NLE: Proposal for a COUNCIL REGULATION amending Regulation (EU) 2022/2578 ...
ID 25971
A Proposal for a COUNCIL REGULATION amending Regulation (EU) 2022/2578 concerning the extension of latter’s application was published in the Official Journal (OJ) of the EU. Regulation (EU) 2022/2578 establishes a temporary market correction mechanism (MCM) for trading derivatives linked to the Union’s virtual trading points (VTPs) in the context of gas trading. Specifically, the 2022 regulation addresses the challenges posed by severe difficulties ...
The EBA publishes final standards for Supervisors assessing new market risk ...
ID 25877
EBA released its final draft RTS outlining the assessment methodology for competent authorities to verify institutions‘ compliance with internal model requirements under the FRTB rules. This publication is part of the EBA’s roadmap on market risk and counterparty credit risk approaches. The draft RTS delineate a framework for competent authorities to assess compliance in three central themes: governance, internal risk-measurement model (covering expected shortfall ...
ESAs publish amended technical standards on the mapping of External Credit ...
ID 25771
The JC of the ESAs has published two amended draft ITS related to the mapping of credit assessments from ECAIs in accordance with CRR and the Solvency II Directive. The Solvency II Delegated Regulation allows insurance and reinsurance companies to use external credit assessments for calculating the Solvency Capital Requirement. The CRR establishes that risk weights under the SA should be based on credit ...
SR-FINRA-2023-015
ID 25656
The Financial Industry Regulatory Authority (FINRA) has published a draft on proposed rule changes to FINRA Rule 6710, 6750 and 7730 in connection with the dissemination of „On-the-Run Nominal Coupon“ securities transactions and the adoption of a corresponding pricing policy. The draft has been forwarded to the Securities and Exchange Commission for approval. Specifically, FINRA seeks to make available on the day of an ...
FSC Proposes Rules Change on the Maximum Level of Credit Extension Allowed for ...
ID 25572
The FSC has proposed a revision to the supervisory regulation on financial holding companies. This proposal is in line with the previously announced plan to ease rules on overseas subsidiary ownership of financial companies. Currently, financial companies within a holding group are allowed to extend credit to their own subsidiaries up to a maximum of 10 percent of equity capital per individual subsidiary. The ...
SR-FINRA-2023-014
ID 25557
In view of the upcoming changes to 17 CFR Part 240, § 240.15b9-1 under the Securities Exchange Act of 1934 on registration requirements of broker-dealers with the Financial Industry Regulatory Authority (FINRA) and exemption therefrom as initiated by the Securities and Exchange Commission in August this year (EventID 22724), FINRA has now published a **draft on proposed rule changes to „establish a Short-Form Membership ...
Gesetz über die Digitalisierung des Finanzmarktes ...
ID 25441
Das BMF hat den Referentenentwurf eines Gesetzes über die Digitalisierung des Finanzmarktes (Finanzmarktdigitalisierungsgesetz – FinmadiG) veröffentlicht. Dieses Gesetz wird die Grundlage für die Umsetzung wichtiger EU-Rechtsakte im deutschen Finanzmarkt, insbesondere des DORA und der MiCA-VerordnunG bilden. Der DORA, der ab dem 17. Januar 2025 für den gesamten Finanzsektor, einschließlich Kapitalverwaltungsgesellschaften und Wertpapierinstitute gilt, führt erstmalig EU ...
2023/0379/COD: Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE ...
ID 25370
The European Commission (EC) has published a new draft on proposed revisions to the Benchmark Regulation (BMR). The suggested modifications seek to simplify the regulation and reduce burdens for all stakeholders involved, including benchmark administrators, users, and supervisors. Additionally, the proposed changes are aimed at increasing competition among benchmark administrators by reducing entry barriers for smaller, non-significant benchmarks in the EU. Specifically, the ...
2023/0368/COD: Proposal for a DECISION OF THE EUROPEAN PARLIAMENT AND OF THE ...
ID 25354
The Proposal for a DECISION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directive 2013/34/EU as regards the time limits for the adoption of sustainability reporting standards for certain sectors and for certain third-country undertakings was published in the Official Journal (OJ) of the EU. The decision would postpone the time limits under Article 29b and Article 40b of the [Accounting Directive (Directive ...