European Union: Key Regulatory Developments In The EU - June 20, 2018

Last Updated: 26 June 2018
Article by Michael Huertas

Source/Date

Brief description

EBA2
13/06/2018

EBA provides clarity to market participants for the implementation of the technical standards on strong customer authentication and common and secure communication under the PSD2

The EBA published two regulatory products, an Opinion and a Consultation Paper on draft Guidelines, to clarify a number of issues identified by market participants in relation to the RTS on strong customer authentication and common and secure communication (SCA and CSC), which will apply from 14 September 2019. For further information, click here.

ESMA2
13/06/2018

Report on penalties and supervisory measures under EMIR

The ESMA has issued its first annual report regarding supervisory measures carried out and penalties imposed by national competent authorities (NCAs) under EMIR. For further information, click here.

European Parliament 2
12/06/2018

Revised rules for OTC-derivatives: proportional treatment of small and non-financial firms

Plenary adopted a negotiating mandate to simplify clearing rules for small and non-financial counterparties and to temporary exempt pension funds from clearing. For further information, click here and here.

EBA2
11/06/2018

EBA issued revised list of ITS validation rules

The EBA issued a revised list of validation rules in its ITS on supervisory reporting, highlighting those which have been deactivated either for incorrectness or for triggering IT problems. For further information, click here.

EBA2
11/06/2018

EBA issued revised list of ITS validation rules

The EBA issued a revised list of validation rules in its ITS on supervisory reporting, highlighting those which have been deactivated either for incorrectness or for triggering IT problems. For further information, click here.

European Commission2
07/06/2018

EU budget: New Single Market programme to empower and protect Europeans

For the next long-term EU budget 2021-2027, the Commission is proposing a new, dedicated €4 billion programme to empower and protect consumers and enable Europe's many small and medium-sized enterprises (SMEs) to take full advantage of a well-functioning Single Market. For further information, click here and here

FSB7
06/06/2018

FSB seeks feedback on technical implementation of the TLAC standard

  The FSB published a call for public feedback on the technical implementation of the FSB's Total Loss-Absorbing Capacity (TLAC) Standard. For further information, click here.

OJ of the EU
02/06/2018

Implementing Regulation supplementing the CRR and the EMIR published in OJ

  Commission Implementing Regulation (EU) 2018/815 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties set out in Regulations (EU) No 575/2013 and (EU) No 648/2012. Entry into force: 05/06/2018. For further information, click here.

OJ of the EU
01/06/2018

European Securities and Markets Authority Decision (EU) 2018/796 to temporarily restrict contracts for differences in the Union in accordance with Article 40 of Regulation (EU) No 600/2014 published in OJ.

For further information, click here.

OJ of the EU
01/06/2018

European Securities and Markets Authority Decision (EU) 2018/795 to temporarily prohibit the marketing, distribution or sale of binary options to retail clients in the Union in accordance with Article 40 of Regulation (EU) No 600/2014 – published in OJ.

For further information, click here.

ESMA3
01/06/2018

ESMA published Q&As in relation the temporary product intervention measures

The ESMA has published its Questions and Answers on ESMA's temporary product intervention measures on the marketing, distribution or sale of CFDs and binary options to retail clients based on Article 40 of MiFIR. For further information, click here.

ESMA3
01/06/2018

ESMA adopted final product intervention measures on CFDs and binary options

The ESMA has formally adopted new measures on the provision of contracts for differences (CFDs) and binary options to retail investors. For further information, click here.

EBA2
01/06/2018 

EBA publishes final amended technical standards on supervisory disclosure

The EBA published its final draft amended Implementing Technical Standards on supervisory disclosure, which specify the format, structure, contents list and annual publication date of the supervisory information to be disclosed by competent authorities. For further information, click here

European Commission
31/05/2018

Multiannual Financial Framework - European Investment Stabilisation Function

The Commission published a Proposal for a Regulation on the establishment of a European Investment Stabilisation Function. For further information, click here.

ESMA3
30/05/2018

ESMA updated the CSDR Q&As

The ESMA has updated its Q&As regarding the implementation of the CSDR. For further information, click here.

EBA/ESMA3
30/05/2018

ESMA and EBA: institutions and authorities must consider retail holders of debt financial instruments in resolutions

The EBA and the ESMA have published a joint statement encouraging institutions, market and resolution authorities to properly consider retail holders of debt financial instruments subject to the BRRD when carrying out their respective tasks. For further information, click here.

ESMA3 30/05/2018

ESMA updated its EMIR Q&As

The ESMA has updated its Q&As regarding the implementation of the EMIR. For further information, click here

European Commission

25/05/2018

Commission published two draft delegated regulations regarding safekeeping duties of depositaries for Alternative Investment Funds and for UCITS funds

Commission Delegated Regulation amending Delegated Regulation (EU) No 231/2013 as regards safe-keeping duties of depositaries. For further information, click here.

Commission Delegated Regulation amending Delegated Regulation (EU) No 2016/438 as regards safe-keeping duties of depositaries. For further information, click here.

ESMA3
29/05/2018 

ESMA updated its MiFID II / MiFIR Q&As on transparency and market structures topics

The ESMA has updated its Questions and Answers regarding transparency and market structures issues under MiFID II and MiFIR. For further information, click here.

ESMA3
28/05/2018

ESMA published final Guidelines on MiFID II suitability requirements

The ESMA has published its Final Report on Guidelines on certain aspects of the MiFID II suitability requirements. For further information, click here.

ESMA3
28/05/2018

ESMA updated Q&A on Short-Selling Regulation

The ESMA has updated its Q&As on the Short-Selling Regulation (SSR). For further information, click here.

ESMA3
28/05/2018

Final Guidelines on anti-procyclicality margin measures for CCPs under EMIR

The ESMA has issued final guidelines on anti-procyclicality margin measures for central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR). For further information, click here.

European Commission
25/05/2018

Commission published Draft Delegated Regulation supplementing the CSDR with regard to regulatory technical standards on settlement discipline

Delegated Regulation supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on settlement discipline. For further information, click here and here.

ESMA3
25/05/2018

ESMA published a practical Guide on the national rules on notifications of major holdings under the Transparency Directive

For further information, click here.

ESMA3
25/05/2018

ESMA published update to MiFID II Q&As on investor protection and intermediaries topics

The ESMA has added 9 new or updated Q&As to its Q&A on MiFID II/MiFIR investor protection topics. For further information, click here.

ESMA3
25/05/2018

ESMA updated UCITS Q&A

The ESMA has updated its Questions and Answers on the application of the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS). For further information, click here.

ESMA3
25/05/2018

ESMA updated Q&A on MiFIR data reporting

  The ESMA has updated its Q&As on data reporting under MiFIR. For further information, click here.

ESMA3
25/05/2018

ESMA published latest data on credit rating agencies performance

  The ESMA has published its latest set of semi-annual statistical data on the performance of credit ratings, including transition matrices and default rates. For further information, click here.

European Commission

24/05/2018

Commission legislative proposals on sustainable finance

The Commission presented a package of measures as a follow-up to its action plan on financing sustainable growth. The package includes 3 proposals and amendments to delegated acts under MiFID II and the Insurance Distribution Directive. For further information, click here.

European Commission

24/05/2018

Proposed new rules to give SMEs better access to financing through public markets

The Commission proposed to adopt more proportionate rules to support SME listing while safeguarding investor protection and market integrity. For further information, click here and here.

European Commission

24/05/2018

Proposal for a Regulation of the European Parliament and the Council on sovereign bond-backed securities

The Commission published a Proposal for a Regulation of the European Parliament and the Council on sovereign bond-backed securities. For further information, click here.

ESMA3
24/05/2018

ESMA updated Benchmarks Regulation Q&As

The ESMA has updated its Questions and Answers on the Benchmarks Regulation (BMR). For further information, click here.

ECB1
23/05/2018

ECB published its 2018 Convergence Report

The ECB is published its 2018 Convergence Report, in line with the requirements of the Treaty on the Functioning of the European Union. For further information, click here.

ECB1
23/05/2018

EU structural financial indicators: End of 2017 (preliminary results)

The ECB has updated its comprehensive dataset of structural financial indicators for the banking sector in the EU with preliminary results for the end of 2017. For further information, click here.

EBA2
23/05/2018

EBA released updated data on Deposit Guarantee Schemes across the EU

The EBA published 2017 data relating to two key concepts in the Deposit Guarantee Schemes Directive (DGSD): available financial means, and covered deposits. For further information, click here.

EBA2
23/05/2018

EBA updated list of O-SIIs in the EU

The EBA updated the 2017 list of Other Systemically Important Institutions (O-SIIs) in the EU. For further information, click here.

ECB1
22/05/2018

EBA consults on standards on estimation and identification of an economic downturn in IRB modelling

The EBA launched two consultations on draft RTS specifying an economic downturn and on a set of Guidelines related to the estimation of loss given default appropriate for conditions of an economic downturn. For further information, click here.

OJ of the EU
18/05/2018

Implementing Regulation amending Implementing Regulation supplementing CRD IV published in OJ

Implementing Regulation (EU) 2018/688 amending Implementing Regulation (EU) 2016/2070 as regards benchmarking portfolios, reporting templates and reporting instructions. For further information, click here.

OJ of the EU

18/05/2018

Delegated Regulation supplementing the CRR published in OJ

Delegated Regulation (EU) 2018/728 supplementing Regulation (EU) No 575/2013 with regard to regulatory technical standards for procedures for excluding transactions with non-financial counterparties established in a third country from the own funds requirement for credit valuation adjustment risk. Entry into force: 07/06/2018. For further information, click here.

ECB
18/05/2018

Summary of responses to the ECB's second public consultation on developing a euro unsecured overnight interest rate The ECB has published a summary of responses to its second public consultation on developing a euro unsecured overnight interest rate. For further information, click here.

OJ of the EU
17/05/2018

Two Corrigenda supplementing the CSDR published in OJ

Corrigendum to Commission Delegated Regulation (EU) 2017/390 supplementing Regulation (EU) No 909/2014 with regard to regulatory technical standards on certain prudential requirements for central securities depositories and designated credit institutions offering banking-type ancillary services. For further information, click here.

Corrigendum to Commission Delegated Regulation (EU) 2017/391 supplementing Regulation (EU) No 909/2014 with regard to regulatory technical standards further specifying the content of the reporting on internalised settlements. For further information, click here.

European Commission
17/05/2018

Speech by Vice-President Dombrovskis on Banking Union and Capital Markets Union

The Commission has published a speech given by Vice President Valdis Dombrovskis on Banking Union and CMU. For further information, click here.

ECON
16/05/2018

Report on sustainable finance

The European Parliament's Committee on Economic and Monetary Affairs published its report (dated 04/05/2018) on sustainable finance. For further information, click here.

OJ of the EU
15/05/2018

Implementing Regulation on ITS under the MMF-Regulation published in OJ

Commission Implementing Regulation (EU) 2018/708 laying down implementing technical standards with regard to the template to be used by managers of money market funds when reporting to competent authorities as stipulated by Article 37 of Regulation (EU) 2017/1131. Entry into force: 04/06/2018. For further information, click here.

 ESMA3
15/05/2018

ESMA updated FAQs on MiFID II transitional transparency calculations

The ESMA has updated its FAQs on transitional transparency calculations under MiFID II / MiFIR. For further information, click here.

Council of the EU
14/05/2018

Council adopted MLD5

The Council adopted the proposed Fifth Money Laundering Directive. The directive sets out to close down criminal finance without hindering the normal functioning of payment systems. For further information, click here.

BCBS/ IOSCO6

BCBS and IOSCO issued criteria for identifying simple, transparent and comparable short-term securitisations

The BCBS and the IOSCO issued the Criteria for identifying simple, transparent and comparable short-term securitisations (the short-term STC criteria). For further information, click here.

European Commission
07/05/2018

Commission adopted draft Delegated Regulation supplementing 4MLD

Delegated Regulation supplementing Directive (EU) 2015/849 with regulatory technical standards on the criteria for the appointment of central contact points for electronic money issuers and payment service providers and with rules on their functions. For further information, click here.

ESMA3

07/05/2018

ESMA starts one-stop company portal

Investors seeking information on whether a financial service provider is authorised within in the EU will now be able to do so on the ESMA's new companies' portal. For further information, click here.

European Commission
04/05/2018

Responses to the Commission's consultation on implementation of final Basel III standards

The Commission published the responses received to its consultation on implementation of final Basel III standards. For further information, click here.

ESAs2
04/05/2018

ESAs consult on amendments to joint EMIR standards

The ESAs launched two joint consultation to amend Regulatory Technical Standards on the clearing obligation and risk mitigation techniques for OTC derivatives not cleared. For further information, click here.

EBA2
04/05/2018

EBA published results of its 2016 CVA risk monitoring exercise

The EBA published a Report on its 2016 CVA risk monitoring exercise, which assesses the impact on own funds requirements of the reintegration of the transactions currently exempted from the scope of the CVA risk charge. For further information, click here.

ECB1
03/05/2018

ECB published a letter regarding money laundering risks

The ECB published a letter from Daniele Nouy, ECB Supervisory Board Chair, on money laundering risks. For further information, click here.

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