Risk Management European Union

News & Analysis as of

Financial Stability Board Reports on Risks Posed by Central Counterparties and the CCP Workplan

The Financial Stability Board published a progress report on its CCP workplan. The progress report provides an update on implementation of a workplan agreed on by the FSB, the Basel Committee on Banking Supervision, the...more

EU General Data Protection Regulation: Are You Prepared?

On April 27, 2016 the European Council and Parliament adopted a new data protection law: the General Data Protection Regulation (GDPR). The following briefing is a summary of key issues and a checklist of initial tasks to...more

EMIR - The new margin landscape

Among other regulatory changes introduced by the European Market Infrastructure Regulation (EU) No 648/2012 (EMIR), there is now an obligation on OTC derivatives participants to collateralise their non-cleared OTC...more

Applying for a German Banking or Financial Services Licence

Due to Brexit developments, for many non-European investors the option to acquire a German banking or financial licence, including the attached benefit of being able to use the European passport regime, is a part of their...more

Brexit: Guidance for Fund Directors - What to Know and What to Ask

On June 23, 2016, the UK held a referendum in which 52 percent of voters elected to leave the European Union (EU). While there is a great deal of uncertainty about the EU withdrawal process that will remain unresolved for a...more

Financial Services Quarterly Report - Second Quarter 2016: New Legal Framework Regarding Loan Funds in Germany

BaFin, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) last year eased its administrative practice with respect to loan origination and loan restructuring activities of...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Updated CSSF AIFM FAQ - The Commission de Surveillance du Secteur Financier (CSSF) issued an updated version (number 10) of the Frequently Asked Questions in relation to the law of 12 July 2013 on Alternative Investment...more

EU Cybersecurity Directive Brings Notification and Security Requirements for Industry

The first European Union-wide rules on cybersecurity have been adopted by the European Parliament. Approved on July 6, 2016, the Directive on Security of Network and Information Systems (NIS Directive) creates new risk...more

EBA Clarifies Use of 2016 EU-Wide Stress Test Results in SREP Process

On July 1, 2016, the EBA published additional information on how the results of the EU-wide stress test will inform the Supervisory Review and Evaluation Process (“SREP”). The focus of the update is to explain how...more

Brexit's Impact on the Insurance Industry

Following the UK’s historic vote to leave the EU, numerous questions have arisen, including whether the UK will really leave the EU and whether Scotland and Northern Ireland (both of which voted to remain in the EU) will have...more

Responding to uncertainty

If there is one thing that can be agreed on after the Brexit vote, it is that there is a lot of uncertainty. And this uncertainty not only affects Britain, it affects each and every company doing business in Britain, and in...more

UK Financial Regulatory Developments - June 2016 #17

ECB publishes governance and risk management review - ECB has published the results of a thematic review that resulted from an in-depth assessment of all significant institutions across the euro area. The review looked...more

The UK has voted to leave the EU: What now?

The British public have voted that the UK should leave the EU. The EU Referendum vote (the Leave Vote) does not by itself result in an automatic UK exit from the EU. The EU Treaty provides for a framework for a...more

Blog: European Commission publishes consultation on Financial Conglomerates Directive – change is on its way

The European Commission has published a brief consultation on the Financial Conglomerates Directive, and the Delegated Regulation made under it. The Commission is using the consultation to gather the evidence it needs to...more

UK Financial Regulatory Developments - May 2016 #9

Chancellor responds on tax deductibility of regulatory fines - The Chancellor has responded to a letter from Andrew Tyrie MP, Chairman of the Treasury Committee, to confirm that payments made by banks to regulators are...more

FCA Assesses Whether Fund Managers are Meeting Investor Expectations

On April 7, 2016, the United Kingdom (UK) Financial Conduct Authority (FCA) published a report (Thematic Review TR16/3: Meeting investors' expectations) (Report) containing its conclusions regarding a thematic review...more

UK Financial Regulatory Developments - April 2016 #21

EIOPA consults on infrastructure corporates - EIOPA is consulting on the Commission’s request for technical advice on the identification and calibration of “other infrastructure investment risk” categories. The...more

Consultation on Guidelines for Prudential Treatment of Problem Assets

The Basel Committee on Banking Supervision published a consultation document on guidelines for the prudential treatment of problem assets focusing on credit categorization definitions. In the context of the financial crisis,...more

The European Banking Authority Shadow Banking Guidelines: Unintended Consequences

This article considers the recent European Banking Authority Shadow Banking Guidelines (the “Guidelines”), seeks a definition of shadow banking and discusses some of the potential consequences of the Guidelines for...more

European Data Protection Supervisor Issues Information Security Risk Management Guidance for E.U. Institutions

The European Data Protection Supervisor (“EDPS”) Giovanni Buttarelli issued a guidance document on data security and risk management for the E.U. institutions (such as the European Parliament, the European Council, and the...more

Our Global Privacy Officer Answers Data Privacy FAQs

Every company in the world stores data—and much of it is personal information about customers, employees, vendors and other stakeholders. Regardless of size, industry or location, these organizations are obligated to follow a...more

Basel Committee on Banking Supervision Proposes New Approach to Operational Risk

The Basel Committee on Banking Supervision published proposals to revise the standards for operational risk for internationally active banks. The Basel Committee consulted in 2014 on a revised Standardized Approach to...more

Energy & commodities: portfolio acquisitions

There have been a number of trading portfolios acquired and disposed of in the commodities trading sector in the last 18 to 24 months (commodities acquisition(s)). This activity has been due to a number of factors, such as...more

PRA Publishes Policy Statement on Internal Governance of Third Country Branches

The U.K. Prudential Regulation Authority (PRA) has issued a policy statement on the internal governance arrangements of U.K. branches of non-EEA banks and PRA designated investment firms, known as “third country branches.”...more

BREXIT? Are You Prepared?

Late on Friday night in Brussels, European leaders agreed on a package they hope will keep the United Kingdom as part of the EU. The British people will now be asked whether they want to stay in the EU or leave, in a...more

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