Blog
Regulatory Reporting: Market Risk Requirements
AFME and ISDA critiqued a proposal for market risk reporting, calling it operationally burdensome and not cost-effective. They suggested aligning these rules with CRR3 FRTB requirements and criticized the overcomplexity of proposed reporting templates, urging EBA reevaluation.
EU Financial Regulatory Landscape & Priorities
The EU's 2023 legislative agenda is poised to address vital financial sectors. Areas of focus will encompass banking regulations, investment frameworks, ESG initiatives, and countermeasures against money laundering and terrorism financing, among others.
What are the Capital Requirements Regulation Amendments?
EU's CRR amendments strengthen banking sector resilience and financial stability. Updates to CRD and CRR introduce stricter capital and liquidity requirements, enhanced risk management, and measures to reduce bank failures. Expected full implementation by 2023 for more robust EU financial system.
SME Financial Statements: IFRS Accounting Standard Update
The June 2023 IFRS for SMEs update introduces Pillar Two tax reform amendments, climate-related guidance for financial statements, and appoints 12 new SME Implementation Group members.
ESA: DORA & ICT Third Party Providers
On May 26th, 2023, the ESA released a discussion paper on delegated acts under DORA. It addresses criteria for critical ICT third-party providers and supervisory fees. The paper presents unified standards for assessing "criticality," but lacks clarity on their application in determining providers.
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