The EBF and 14 trade associations1 representing a wide range of stakeholders in the European and global financial markets recently wrote to the European Commission and ESMA raising concerns about the implementation of the mandatory buy-in requirement under the EU’s CSDR2 Settlement Discipline Regime. The current mandatory...
ENISA Report - EU Cybersecurity Initiatives in the Finance Sector : the report published guides the reader towards European cybersecurity initiatives dedicated to the finance sector. Its purpose is to map today’s reality of a very complex cybersecurity landscape in the EU finance sector. The...
ESMA released a statement to highlight to retail investors the risks connected with trading decisions based exclusively on exchanges of views, informal recommendations and sharing of trading intentions through social networks and unregulated online platforms. The statement is issued as part of ESMA’s investor protection objective to...
ESMA Chair, Steven Maijoor, addressed senior policymakers and industry at the 5th Annual Conference on ‘FinTech and Regulation: New Challenges and New Solutions’. His speech touched upon: Digitalisation: risks and opportunities: DLT Technology Digital platforms for clients Accelerating trends: Cloud platforms increase BighTechs and Big Data Competition risks And safe...
The COVID-19 crisis has brought technology use to the fore in the financial sector and beyond, with businesses seeing two or three years’ expected progress compressed into two or three months last year. The pandemic's impact on fintech businesses and regulatory agendas is ongoing, coupled...
On 2 February 2021, ECSDA responded to the European consultation on the regulation on improving securities settlement in the European Union and on Central Securities Depositories (CSDR)....
The ECB Eurosystem has recently published a paper (Occasional Paper Series) that analyses the profitability, capital and liquidity constraints of custodian banks through the lens of the supervisory review and evaluation process methodology. It examines how custodians differ from traditional banks with regard to: balance sheet structure, ...
BIS published an occasional paper titled Fintech regulation: how to achieve a level playing field. The study explains how regulation should evolve to encourage fair competition between traditional banks and new fintech and big tech. Some advocate moving from an entity-based to an activity-based regulatory approach under...
On 22 December 2020, ECSDA published the updated version of the ECSDA CSDR Settlement Fails Penalties Framework. Cash penalties are required by the EU legislators to be imposed by CSDs and aim at increasing settlement efficiency rates. The requirements are outlined in the CSD Regulation (EU...
EFAMA and EFSA welcome the publication of Market Infrastructure Partners’ Study on the Creation of an EU Consolidated Tape which addresses the challenges, demand, benefits and proposed architecture for consolidating European financial market data. We believe that an appropriately constructed consolidated tape (“CT”) could help to...
