Blog

The GFMA urges global coordination to prevent market disruptions from MiFID II unbundling changes. They fear loss of research access for MiFID II investment managers. Extend SEC's no-action letter until new requirements are finalized. GFMA comprises AFME, ASIFMA, and SIFMA.

The EBA and EIOPA have published DPM Standard 2.0, improving supervisory reporting. This robust standard addresses data challenges and fosters collaboration, harmonization, and digital processing of regulatory data.

In ensuring BRRD compliance, financial services must develop a crisis recovery plan, maintain requisite funds for recapitalization, and establish clear crisis governance. By adhering to these measures and regulatory updates, they promote financial system resilience.

EBA issued guidelines for financial institutions' resolvability. They provide a framework, self-assessment, multi-annual testing, and a master playbook for complex institutions. Translations on EBA site, compliance reporting within 2 months. Effective 1 Jan 2024.

AFME responds to CBI's Consultation Paper 153 on enhancing financial services governance. They appreciate CBI's work on the IAF but suggest amendments for alignment, split responsibilities, and enforcement clarity.