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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.
What is the Open Finance Framework and how it will help Compliance?
The EU's Open Finance Framework facilitates financial data sharing, adhering to data protection rules. It empowers customers as data owners, promoting transparency and regulation compliance, fostering market competitiveness, and bolstering consumer rights.
IFR/IFD compliance: how financial services can achieve it?
The 2019-introduced IFR/IFD sets new requirements for financial firms. Firms must identify compliance gaps, adjust governance and reporting, and create a thorough plan with staff training, tech upgrades, and ongoing checks to meet the 2023 deadline.
How Financial Services will be Compliant to BRRD Regulation?
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.
Which are the financial regulations for compliance in EU?
The EU's crucial financial regulations for compliance are MiFID II and GDPR. MiFID II ensures transparency and protects investors in banking and securities. GDPR safeguards personal data. AMLD combats money laundering, while BRRD resolves failing banks.
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