Blog
MiFID II Regulation: ESMA's Consultation on Draft RTS
ESMA's July 16, 2024, consultation paper proposes new MiFID II standards to improve order execution policies of investment firms. It highlights current deficiencies like poor documentation and generic disclosures, emphasizing transparency and compliance.
Basel Committee’s Adjustments to the IRRBB Standard
On July 16, 2024, the Basel Committee on Banking Supervision (BCBS) updated the Interest Rate Risk in the Banking Book (IRRBB) standard. Key changes include expanded calibration periods, local shock factors, a 99.9th percentile value, and precise interest rate shocks.
MiCA Regulation: EBA's Guidelines on Data Reporting
The Regulation on Markets in Crypto-Assets (MiCA), Regulation (EU) 2023/1114, is crucial for the EU's regulatory approach. On July 15, 2024, the EBA released draft guidelines for data reporting by NCAs, issuers of asset-referenced tokens, e-money tokens, and Crypto-Asset Service Providers.
EU AI Act: Framework and Application
The EU AI Act, effective July 12, 2024, standardises AI regulations across EU states, promoting trustworthy AI aligned with EU values. It classifies AI by risk, mandates risk management, transparency, and documentation.
ESMA's Third Consultation on Revised MiFIR and MiFID II
ESMA’s third consultation on revised MiFIR and MiFID II, effective March 2024, aims to boost EU market transparency and investor protection. Key updates: a single volume cap, refined SI framework, expanded reporting.
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