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Operational Risk Management (ORM) is the process of identifying and mitigating risks to an organization's operations. It focuses on internal and external factors that can disrupt business operations and aims to protect the organization by eliminating or minimizing risk.

Navigating future compliance in financial services requires adaptability to emerging trends and technologies. With rising cyber threats, AI use, data privacy concerns, and the advent of crypto-assets and blockchain, fostering a compliance culture is paramount for financial institutions.

The Payment Services Directive 3 (PSD3) aims to enhance the EU payment services market, balancing consumer protection, competition, and technological advancements. Key changes include improved transparency, better protection for blocked funds, and responsible access to financial data.

The EU Banking Package, a pivotal part of recent European bank prudential law, modifies the Capital Requirements Directive and Regulation (CRD6/CRR3). Aimed at enforcing Basel 3.1 reforms in EU jurisdiction, it seeks to bolster regulation, supervision, and risk management in the banking sector.

European Commission's FIDA framework gets positive response from Insurance Europe. Consumers gain control over financial data sharing. Industry appreciates regulated access to pension and insurance data. Emphasis on quality interfaces and fair compensation.