Events listed in European Union
Commission Delegated Directive (EU) 2023/2775 as regards the adjustments of the ...
ID 26479
New Commission Delegated Directive (EU) 2023/2775 as regards the thresholds of various indicators to define different sizes of undertakings and groups with respect to the Accounting Directive was published in the Official Journal (OJ) of the EU. Specifically, the new Delegated Directive modifies the Accounting Directive to define new thresholds in balance sheet total and net turnover for purposes of the definition of micro, ...
[JC 2023 82 ] List of Financial Conglomerates 2023
ID 26470
The three European Supervisory Authorities (ESAs) have published a revised list of firms considered to be financial conglomerates with the head of the group situated in the EU or the EEA which are subsequently subject to the Financial Conglomerates Directive (FICOD). The list is based on the most recent annual financial statements provided by the groups and considers data up to October 30, 2023. ...
New consolidated version: Council Directive 2011/16/EU on administrative ...
ID 26461
A new consolidated version of Council Directive 2011/16/EU, the so-called Directive on administrative cooperation (DAC), was published in the Official Journal (OJ) of the EU. The Directive sets out standards for collaboration in the field of taxes within the EU member states. The consolidated version includes remaining amendments made by Council Directive (EU) 2021/514 which – among other things – stipulated provisions for the ...
Sustainable finance: Commission provides additional guidance to help financial ...
ID 26451
The European Commission (EC) has published a draft Commission notice „on the interpretation and implementation of certain legal provisions of the Disclosures Delegated Act under Article 8 of the EU Taxonomy Regulation on the reporting of Taxonomy-eligible and Taxonomy-aligned economic activities and assets“. This is the third such Communication from the Commission providing further guidance on interpretation and implementation to financial companies in the ...
FinDatEx publishes EET V1.1.2
ID 26450
The Financial Data Exchange (FinDatEx) platform has published a revised version of the European ESG Template (EET V1.1.2) of the dedicated working group to implement the following minor amendments – as quoted: – typo corrections, – transition from M/C to O of transitional scope 1, 2 data fields, and – two new data fields 103 (Frequency of providing information on PAI) and 616 (Snapshot ...
ESMA consults on possible changes to the securitisation disclosure templates
ID 26449
ESMA has initiated a consultation on potential changes to the securitisation disclosure templates. The revision involves the Disclosure RTS and ITS related to specific information and details of securitisation transactions. ESMA is seeking stakeholders‘ views on four proposed options for the securitisation disclosure framework: Option A: Putting the template review on hold until the revision of the Level 1 text. Option B: Expanding the ...
The EBA consults on Guidelines on internal policies, procedures and controls to ...
ID 26442
EBA has launched a public consultation on two sets of guidelines aimed at enhancing internal policies, procedures, and controls to ensure the implementation of Union and national restrictive measures. These measures, which encompass financial sanctions and embargoes, are binding on individuals and entities within Member States. The guidelines seek to establish a common understanding among PSPs, CASPs, and their supervisors, with the overarching goal ...
Key messages on the Implementation of SFDR
ID 26440
EFAMA published its response to EC’s targeted consultation on the implementation of SFDR (eventid=22926). The SFDR aimed to enhance transparency in sustainable finance, but its adoption as a de facto ESG labeling regime by market participants has led to unintended complexities. The EC’s review needs to enhance SFDR’s clarity for retail investors, promote transition finance, and align with other relevant legislation. Proposed solutions include ...
The EBA publishes amendments to disclosures and reporting on MREL and TLAC
ID 26436
EBA has released draft ITS amending the ITS on disclosures and reporting on MREL and TLAC. These modifications, set to take effect from 30 June 2024, are in response to changes in the prudential framework, particularly the introduction of the ’daisy chain‘ framework. The ‚daisy chain‘ framework mandates entities not designated as resolution entities to deduct investments in eligible liabilities instruments issued by their ...
ESAs propose extending the EMIR equity option exemption
ID 26434
The ESAs have proposed a two-year extension to the equity option exemption from bilateral margining under EMIR. The current temporary exemption, set to expire on 4 January 2024, could be extended until 4 January 2026, according to joint draft RTS published by the ESAs. These RTS provide guidance to market participants on handling equity options from the expiration of the current temporary exemption. This ...