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A&O Shearman

European Commission Consults on Potential Digital Euro

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The European Commission has launched a targeted consultation on a possible digital euro. The EU is considering introducing a digital euro for retail payments, which would be available alongside cash. A decision has not yet...more

White & Case LLP

EU General Court demands a vigorous effects-based analysis for rebates cases and annuls the European Commission’s Intel decision...

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On 26 January 2022, the EU's General Court (GC) annulled the European Commission's (EC) €1.06 billion fine on Intel for abusing a dominant position with its rebate schemes. The judgment demonstrates that the European Courts...more

White & Case LLP

European legal acts on sustainable financing: Review, Outlook, Perspective

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"It can‘t go on like this!" This statement is not only made by the young people who pass by the windows of our office every Friday morning. In fact, this statement was already made binding by the Paris Climate Change...more

Hogan Lovells

Banking and finance regulatory news, June 2021 #3

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CRR: ECB extends leverage ratio relief for banks until March 2022 due to COVID-19 The European Central Bank (ECB) has adopted a Decision on the temporary exclusion of certain exposures to central banks from the leverage ratio...more

Hogan Lovells

Banking and finance regulatory news, March 2021 # 2

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LIBOR transition: Working Group's best practice guide for GBP loans and Q&A - The Working Group Sterling Risk-Free Reference Rates published a best practice guide for GBP loans. Alongside the guide, the Working Group also...more

Proskauer Rose LLP

Regulation Round Up - February 2021

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26 February - HM Treasury published a report setting out the findings of the Kalifa Review of UK FinTech. The Financial Conduct Authority (“FCA”) published Handbook Notice 85, which sets out changes to the FCA Handbook...more

A&O Shearman

European Central Bank Publishes Guide to Assessment Methodology for Counterparty Credit Risk and Credit Valuation Adjustment Risk...

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The European Central Bank has published its final Guide on the assessment methodology it will use to examine: (i) the internal model methods banks use to calculate exposures to counterparty credit risk; and (ii) the advanced...more

Proskauer Rose LLP

Regulation Round Up - July 2020

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30 July - The Financial Conduct Authority (“FCA”) updated its webpage on the High Court business interruption insurance test case. The Prudential Regulation Authority (“PRA”) published a consultation paper (CP11/20)...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on New Standardized Approaches to Cybersecurity Preparedness, FINRA's...

SEC/CORPORATE - SEC Approves Extension of Temporary NYSE Waiver of Stockholder Approval Rules - Recently, the Securities and Exchange Commission issued a release (the Release) approving, with immediate effectiveness,...more

Hogan Lovells

Banking and finance regulatory news, June 2020 #3

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COVID-19: EBA extends application date of guidelines on moratoria on loan repayments - On 18 June 2020, the European Banking Authority (EBA) announced that it is extending the application date of its guidelines on...more

Proskauer Rose LLP

Regulation Round Up - February 2020

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3 February - The European Banking Authority (“EBA”) published a report on the benchmarking of diversity practices in credit institutions and investment firms under the CRD IV Directive (2013/36/EC)....more

Latham & Watkins LLP

The Systemic Importance of Cloud-Based Service Providers to Banks

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US lawmakers urge FSOC to designate cloud-based storage systems used by major banks as systemically important financial market utilities. In an August 22, 2019, letter addressed to Treasury Secretary Steven Mnuchin, in his...more

A&O Shearman

Key Regulatory Topics: Weekly Update 23 August 2019 - 29 August 2019

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BREXIT - ECB on no-deal Brexit - On 28 August, the ECB published the transcript of an interview (dated 15 August) with by Andrea Enria, Supervisory Board Chair of the ECB. In the interview, among other things, Mr Enria...more

K&L Gates LLP

Brussels Regulatory Brief: July 2019

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INSTITUTIONAL DEVELOPMENTS - EU Institutions Move Forward With The Selection Of Their Leaders For The New Legislative Cycle - On 2 July 2019, the European Council, which gathers Heads of State or Government of the 28 EU...more

Orrick - Finance 20/20

International Role of the Euro

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On December 5, 2018, the Commission adopted a Communication and a Recommendation on a stronger international role of the euro, following President’s Juncker State of the Union address in September 2018, in which he...more

Latham & Watkins LLP

Are Private Equity Bank Buyouts Set to Soar?

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Ten years ago, a PE investment in a European bank would have been a rare occurrence. However, more recently, PE firms have deployed capital in the banking sector, encouraged by changing regulatory perceptions of PE bidders....more

BCLP

New Rules on Cross-Border Payments and Currency Conversion Transparency

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After trilogue negotiations with the European Parliament and the European Commission, the European Council has now approved the amendments made to the Regulation (EC) No 924/2009 on Cross-Border Payments (the “CBP...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - December 2018

In this month's edition of our Privacy & Cybersecurity Update, we examine the European Commission's second annual review of the Privacy Shield and the Department of Commerce's guidance on how to comply with the Privacy Shield...more

Orrick - Finance 20/20

Third European Commission Progress Report on Reducing NPLs in EU

Orrick - Finance 20/20 on

On November 28, the European Commission published a communication setting out its third progress report (COM(2018) 766 final) in reducing non-performing loans (“NPLs“) and further risk reduction in the banking union....more

Orrick - Finance 20/20

ECB Issues Opinion on Proposed Regulation Amending Regulation on Cross-Border Payments

Orrick - Finance 20/20 on

On August 31, the European Central Bank (“ECB“) has published an opinion on the European Commission’s legislative proposal for a Regulation amending the Regulation on cross-border payments....more

A&O Shearman

European Central Bank Consults on Assessing Potential Successors to the EONIA Benchmark

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The European Central Bank has published a consultation on behalf of the Working Group on Euro Risk-Free Rates. The ECB provides the secretariat for this Working Group. The Working Group is tasked, among other things, with...more

A&O Shearman

EU and UK to Establish Technical Working Group for Risk Management Around Brexit

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The European Commission and HM Treasury have announced that the European Central Bank and the Bank of England will establish a technical working group on risk management in the period around March 30, 2019 for financial...more

Proskauer Rose LLP

Regulation Round Up - April 2018

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3 April - The Financial Conduct Authority ("FCA") published a press release, warning that it intends to take action against general insurance firms that fail to properly implement the rules aimed at increasing...more

A&O Shearman

European Central Bank Confirms Its Approach to Supervising Non-Performing Loans Levels

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Following its consultation in late 2017, the European Central Bank has published the final Addendum to its Guidance for Eurozone banks on non-performing loans. The ECB published its final Guidance for banks on NPLs on March...more

A&O Shearman

EU Authorities Appoint Industry Working Group on Euro Risk-Free Rates

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Following the November 2017 call for expressions of interest, the European Commission, the European Central Bank, the European Securities and Markets Authority and the Belgian Financial Services and Markets Authority...more

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