The following three regulatory technical standards supplementing the Digital Operational Resilience Act have been published in the Official Journal of the European Union: - RTS on the criteria for the classification of...more
The UK and Europe have released a number of updated requirements for securitisations that, while not effecting material changes, are notable in their scope and number. Below, we give a brief guide to these changes and their...more
Last summer, we published an advisory discussing the European Banking Authority's ("EBA") final draft regulatory technical standards on risk retention pursuant to Article 6(7) of the Securitisation Regulation (EU) 2017/2017)...more
EU Securitisation Regulation – EBA final advice on the revised draft recast risk retention RTS adopted by the European Commission. In May 2022 we shared with you some of our thoughts on the European Banking Authority...more
In February 2023, the European Banking Authority published its final report on the draft amending regulatory technical standards (the draft RTS) relating to the homogeneity requirements for simple, transparent and...more
Welcome to July’s edition of the ESG Regulation Monthly Round-Up. Once again, it was a busy month on the SFDR and Taxonomy front following the (i) European Supervisory Authorities' report on voluntary disclosure of principal...more
1. Speed read - As the start date looms for the Level 2 requirements under SFDR and the product disclosure regime in the Taxonomy Regulation, firms are progressing their implementation projects. This bulletin provides an...more
ESG securitisation has the potential to play a key role in achieving sustainable finance objectives in the European Union. There have been a number of regulatory developments and other advances in this area, including the...more
On 12 April 2022, the European Banking Authority (the “EBA”) announced the publication of its final draft Regulatory Technical Standards (“RTS”) specifying the requirements for originators, sponsors and original lenders in...more
Background - On 12 April 2022, the European Banking Authority (the “EBA”) announced the publication of its final draft Regulatory Technical Standards (“RTS”) specifying the requirements for originators, sponsors and...more
On 6 April 2022, the European Commission (“Commission”) adopted the consolidated final regulatory technical standards (“RTS”) to the Sustainable Finance Disclosure Regulation (2019/2088/EU) (“SFDR”) and the EU Taxonomy...more
On April 12, 2022, the European Banking Authority (the “EBA”) issued a press release announcing the publication of its final draft Regulatory Technical Standards (“RTS”), setting out the requirements for originators, sponsors...more
On 6 April 2022, the European Commission has published the final Regulatory Technical Standards (RTS) supplementing the Sustainable Finance Disclosure Regulation (SFDR), which shall apply from 1 January 2023. The RTS will...more
On March 25, 2022, the three European supervisory authorities − the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority (collectively the...more
The most innovative and challenging aspect of the EU’s Sustainable Finance Disclosure Regulation (SFDR) is probably the new principal adverse impacts or PAI regime. This is being introduced in stages, starting from 10 March...more
Draft Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021 A draft version of the Financial Markets and Insolvency (Transitional Provision) (EU Exit) (Amendment) Regulations 2021...more
BoE stress testing: 2021 Climate Biennial Exploratory Scenario update - Reports on key recent regulatory developments focussing on banking and finance. See also our Financial institutions general regulatory news and other...more
Regulation of non-transferable debt securities: HM Treasury consultation HM Treasury has published a consultation paper on the regulation of non-transferable debt securities (NTDS) (often referred to as mini-bonds)....more
COVID-19: BoE statement on regulatory treatment of Recovery Loan Scheme - The Bank of England (BoE) has published a statement on the regulatory treatment of the UK Recovery Loan Scheme (RLS), which has been launched as part...more
This week’s update includes, among other key items, the FSB’s report on its evaluation of the effects of too-big-to-fail reforms for systemically important banks. This report, alongside the FSB’s report on Covid-19 support...more
The European Supervisory Authorities (ESAs) have published the draft Regulatory Technical Standards (“Taxonomy RTS”) on product-level disclosures that apply to funds or portfolios that promote or make environmentally...more
CRR: Commission Implementing Regulation containing ITS on reporting requirements for market risk Commission Implementing Regulation (EU) 2021/453 containing implementing technical standards (ITS) on specific reporting...more
Under SFDR, the European Supervisory Authorities (ESAs) have been mandated to develop various Level 2 measures, to take the form of Regulatory Technical Standards (RTS). On 4 February 2021, the ESAs published their final...more
On 25 February 2021, the Joint Committee of the European Supervisory Authorities (“ESAs”) published a joint supervisory statement (“Joint Statement”) on the application of the Sustainable Finance Disclosure Regulation ((EU)...more
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