An overview in which our Banking and Finance Practice Group highlights:

  • Loyens & Loeff publications which may be of interest to you;
  • Legislative dates for your diary.

Loyens & Loeff publications

The four facets of the European Commission's proposal for a(n) AML/CFT package
On 20 July 2021 the European Commission published the long-awaited package of legislative proposals, in implementation of the Commission Action Plan of 7 May 2020.
To read this update, click here

FINMA Guideline - Changes of corporate bodies at banks (Switzerland)

On 22 September 2021, the Swiss Financial Market Supervisory Authority (FINMA) published guidelines concerning changes in the persons entrusted with the administration and management of Swiss banks (FINMA Guidelines). The FINMA explain the procedure regarding changes of corporate bodies at banks, covering a general overview of the duration and the requirements in this procedure as well as the documents to be submitted.
To read this update, click here

First approval granted for a stock exchange and central securities depository for trading of tokens (Switzerland)
The Swiss Financial Market Authority FINMA announced on 10 September 2021 that it has granted for the first time approval to a stock exchange and a central depository (Zentralverwahrer) for the trading of tokens. Both institutions operate financial market infrastructures based on the distributed ledger technology (DLT).
To read this update, click here

Data Protection & Privacy Updates

For updates on the GDPR, please visit the webpage of the Loyens & Loeff Data Protection and Privacy Team.

Legislative dates for your diary

Consultations EU

04.09.2021 EBA consultation deadline: on technical standards on crowdfunding service providers click here

22.08.2021 EIOPA consultation deadline: Discussion paper on the Methodological Framework for Stress-Testing IORPs click here

02.09.2021 ESMA consultation deadline: on the clearing and derivative trading obligations in view of the benchmark transition click here

03.09.2021 European Commission consultation deadline: Bank supervision - changes to list of equivalent third countries under Capital Requirements Regulation click here

09.09.2021 European Commission consultation deadline: Undertakings for Collective Investment in Transferrable Securities Directive (update) click here

09.09.2021 European Commission consultation deadline: Regulation on packaged retail and insurance-based investment products (PRIIPs) - update click here

20.09.2021 ESMA consultation deadline:

  • on Draft Guidelines further specifying the circumstances for temporary restrictions in the case of a significant non-default event click here
  • on Draft Guidelines on the consistent application of the triggers for the use of Early Intervention Measures click here
  • on Draft RTS on the methodology for calculation and maintenance of the additional amount of pre-funded dedicated own resources click here
  • on the Draft Guidelines on CCP recovery plan indicators click here
  • on Draft RTS on order of compensation art. 20 click here
  • on the Draft Guidelines on CCP recovery plan scenarios (Article 9(12) CCPRRR) click here
  • on Draft RTS further specifying the factors that shall be considered by the competent authority and the supervisory college when assessing the CCP recovery plan click here

23.09.2021 EBA consultation deadline: on draft ITS amending ITS on Supervisory Reporting with regards to COREP and asset encumbrance reporting (EBA/CP/2021/24) click here

24.09.2021 Platform on Sustainable Finance call for feedback: on preliminary recommendations for technical screening criteria for the EU taxonomy click here

24.09.2021 EBA consultation deadline: on amendments to RTS on credit risk adjustments in the context of the calculation of the Risk Weight (EBA/CP/2021/25) click here

24.09.2021 ESMA consultation deadline: Draft regulatory technical standards on the management body of DRSPs click here

27.09.2021 European Commission consultation deadline: Ecofriendly investment - EU standard for 'green bonds' click here

28.09.2021 EBA consultation deadline: on its revised Guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP) and supervisory stress testing click here

30.09.2021 ESMA consultation deadline: on Draft Guidelines for Reporting under EMIR click here

01.10.2021 ESMA consultation deadline: on the review of RTS 1 (equity transparency) and RTS 2 (non-equity transparency) click here

15.10.2021 EBA consultation deadline: on draft Guidelines on the limited network exclusion under PSD2 (EBA/CP/2021/28) click here

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.