Background A corrigendum to Commission Delegated Regulation (EU) 2017/653 of 8 March 2017 supplementing Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) by laying down regulatory technical standards (RTS) with regard to the presentation, content, review and revision of key information documents and the conditions for fulfilling […]
Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, talks about developments in the preparatory work of banks and supervision in light of the UK leaving the European Union, Supervision Newsletter (Summer 2017) In summary, Lautenschläger said that: all affected banks should prepare themselves with […]
The European Commission has published a regulation laying down a standardised presentation format for the insurance product information document (IPID) to comply with IDD. The IDD must be transposed into national law by 28 February 2018 and the IPID must be provided to customers with the necessary information about non-life insurance products in order to […]
We have written an article on the Government’s statement of intent for the Data Protection Bill.
Nicky Morgan, new Chair of the Treasury Committee, and Sam Woods of PRA have exchanged letters on Brexit planning. The PRA response explained PRA’s work in assessing the scenarios that might have the biggest impact on its objectives – such as a hard Brexit with no ongoing cross-border market access. PRA has received over 400 […]
The European Commission has published for comment an inception impact assessment on broadening the access of centralised bank account registries under the MLD5 proposals. It asks for comments by 6 September.
The European Banking Authority has published a Discussion Paper on its approach to financial technology (FinTech). The EBA sets out in the Discussion Paper the results of the first EU-wide FinTech mapping exercise and its proposals for future work on FinTech. To gain a better understanding of current FinTech activity in the EU, in spring 2017, […]
The EBA’s Consultation Paper on the Guidelines on Fraud Reporting under PSD2 (EBA/CP/2017/13) has been developed in close cooperation with the European Central Bank (ECB) to ensure that the high-level fraud reporting requirements under Article 96(6) of the PSD2 are implemented consistently among Member States and that the aggregated data provided by competent authorities to the […]
The EC has today announced that the following cities have proposed to host the EBA: Brussels (Belgium) Dublin (Ireland) Frankfurt (Germany) Paris (France) Prague (Czech Republic) Luxembourg-City (Luxembourg) Vienna (Austria) Warsaw (Poland) The applications will be assessed on the basis of six criteria agreed by the 27 member states: guarantees that the agency will be operational when […]
We wrote an article for Financial Adviser on the impact of MiFID 2 on article 3 firms.