News & Analysis as of

Compliance European Banking Authority (EBA)

Compliance programs typically refer to formalized institutional procedures within corporations and organizations to detect, prevent and respond to indvidual and widespread instances of regulatory violations. ... more +
Compliance programs typically refer to formalized institutional procedures within corporations and organizations to detect, prevent and respond to indvidual and widespread instances of regulatory violations.  In response to many corporate scandals evidencing rampant unethical business practices, many nations, including the United States, began passing strict regulatory frameworks aimed at curbing these abuses. Notable pieces of legislation in this area include the U.S. Foreign Corrupt Practices Act (FCPA), Sarbanes-Oxley (SOX), and the U.K. Bribery Act, to name a few. The foregoing statutes and the severe penalties often associated with them form the basis of many modern institutional compliance programs. less -
Venable LLP

Offensive Security Under the EU Digital Operational Resilience Act (DORA)

Venable LLP on

The Digital Operational Resilience Act (DORA) regulation is part of the European Union’s (EU) strategy to enhance the overall stability of the EU financial system by ensuring that financial entities are resilient to digital...more

BakerHostetler

USDC Integrations Announced; Crypto Guidance Published by IRS, EU Banking Authority; Crypto Firm Consents to $8M Penalty; Illicit...

BakerHostetler on

USDC Report Published, Crypto Firms Announce USDC Integrations - Circle, the U.S. fintech company that manages the stablecoin USDC, recently released the “State of the USDC Economy” report, highlighting the “efforts to...more

Latham & Watkins LLP

Trends in Outsourcing Regulation and Supervision in Financial Services

Latham & Watkins LLP on

Insights from Latham’s flagship event: Managing the risk and promise of digitisation in financial services - The financial services industry is leading the way in outsourcing, with contract values in excess of US$10.7...more

Orrick - Finance 20/20

EBA Consults on its Benchmark Rate Under the MCD

Orrick - Finance 20/20 on

The Mortgage Credit Directive (2014/17/EU) (MCD) requires that creditors create two illustrative examples for variable rate mortgages on the basis of a benchmark rate specified by the EBA. Consequently, the EBA has developed...more

Cadwalader, Wickersham & Taft LLP

Securitisation: Keeping it Simple?

On 30 September 2015, the European Commission (the “Commission”) published a proposal for a regulation (the “Proposed Regulation”)1 intended to harmonise existing EU laws applying to securitisations (including proposed...more

Orrick - Finance 20/20

EBA Revises Implementing Technical Standards on Supervisory Reporting

Orrick - Finance 20/20 on

On September 10, 2015, the European Banking Authority (EBA) issued a revised list of validation rules in its implementing technical standards on supervisory reporting under the Capital Requirements Regulation (Regulation...more

Orrick - Finance 20/20

EBA Final Guidelines on Passport Notifications for Mortgage Credit Intermediaries

Orrick - Finance 20/20 on

On August 11, 2015, the European Banking Authority (EBA) published its final guidelines (EBA/GL/2015/19) on passport notifications for mortgage credit intermediaries under the Mortgage Credit Directive (2014/17/EU) (MCD). The...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

EBA Updates Single Rulebook Q&As - On October 17, the European Banking Authority (EBA) updated its Q&As on the single rulebook, publishing two new answers to questions relating to supervisory reporting and credit risk....more

Orrick - Finance 20/20

ESA Issues ESMA and EBA Consultation for Securities and Banking Complaints Handling

Orrick - Finance 20/20 on

On November 6, the Joint Committee of the European Supervisory Authorities (ESAs) issued a consultation paper by the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) concerning draft...more

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