Events listed in European Union
Council Regulation (EU) 2023/2878 concerning restrictive measures in view of ...
ID 26331
New Council Regulation (EU) 2023/2878 concerning restrictive measures with respect to Russia’s action to destabilize the situation in Ukraine was published in the Official Journal (OJ) of the EU. The regulation modifies Council Regulation (EU) No 833/2014 primarily to implement further trade restrictions or restrictions relating to the provision of ancillary services. The key provisions of the new regulation are briefly described below: ##### ...
The EBA provides guidance on the benchmarking of diversity practices under the ...
ID 26330
EBA has issued final Guidelines on benchmarking of diversity practices, including diversity policies and gender pay gap under CRD and IFD and a Decision on supervisory reporting on diversity benchmarking. The guidelines aim to increase transparency, data quality, and awareness regarding diversity and gender equality within financial institutions. The scope includes institutions and investment firms that are obligated to furnish data on the diversity ...
ESMA consults on potential changes to the CSDR penalty mechanism
ID 26326
ESMA has initiated a consultation on potential modifications to the penalty mechanism outlined in the CSDR. The CSDR, established in 2014, aims to enhance securities settlement in the EU and regulate central securities depositories. Settlement fails, where transactions are not completed as intended, are addressed through reporting requirements, cash penalties, and mandatory buy-ins under the CSDR. ESMA’s consultation, open until 29 February 2024, seeks ...
Insurance
consultation
EIOPA consults on its methodology for setting value-for-money benchmarks
ID 26323
EIOPA has initiated a public consultation on its proposed methodology for establishing value-for-money benchmarks for unit-linked and hybrid insurance products. This effort is part of EIOPA’s ongoing work to provide supervisors with risk-based tools to identify products that may not offer fair value for money in the market. The consultation outlines a three-step approach: 1. Product Clustering: EIOPA suggests categorizing unit-linked and hybrid insurance ...
[ESMA35-43-349 ] Q&As on MiFID II and MiFIR investor protection topics
ID 26319
ESMA has published an updated version of its Questions and Answers (Q&A) on MiFID II and MiFIR investor protection and intermediaries topics. The latest version includes following changes – as quoted (with tracked changes): ___ #### Information on costs and charges: **Question 13 (amended): When providing information of costs and charges to clients, on which basis should costs be aggregated? What is the level ...
The EBA proposes a voluntary EU green loan label to help spur markets
ID 26313
EBA has issued an opinion and a report in response to the EC’s call for advice on green loans and mortgages. In this response, the EBA proposes the introduction of a voluntary EU label for green loans, aiming to stimulate the market and contribute to the EU’s sustainability objectives. The proposed label would be based on a common EU definition and integrated into the ...
[ESMA35-42-1088 ] Q&A on the European crowdfunding service providers for ...
ID 26312
ESMA has published an updated version of its Q&A on the ECSPR (Regulation (EU) 2020/1503). In this latest version, three new Q&As were added relating to General provisions as set out in Section 3, provisions of crowdfunding services and organisational and operational requirements as set out in Section 4 and Investor protection and marketing communications as set out in Section 5 of the document. ...
ESMA consults on draft guidelines for supervision of corporate sustainability ...
ID 26311
ESMA launched a consultation on Draft Guidelines on Enforcement of Sustainability Information (GLESI), aiming to ensure consistent supervision by NCAs over listed companies‘ sustainability information in line with the CSRD, ESRS, and the TR. The primary goals of these guidelines are twofold. Firstly, ESMA seeks to ensure that NCAs supervise sustainability information of listed companies in a converged manner. This involves adhering to the ...
AFME responds to ESMA consultation on shortening settlement cycles in the EU
ID 26305
AFME has provided a response to ESMA’s CfE on the potential shortening of settlement cycles in the EU (please see EventID#23184). AFME expresses its support for moving to a T+1 settlement cycle but underscores the complexity and demands associated with such a transition. AFME emphasizes the need for careful consideration of feedback before deciding on the next steps. AFME outlines key points in its ...
The EBA publishes guidance to assess the knowledge and experience of the management ...
ID 26301
EBA has released its final Guidelines on the assessment of adequate knowledge and experience of the management or administrative organ of a credit servicer as a whole, under NPLD. These guidelines were open for consultation in April 2023 (eventid=20693) and aim to ensure that the organs of a credit servicer are suitable to carry out their duties in a competent and responsible manner. The ...