EU Banking and Finance Regulatory Newsletter February 2022 | Dentons

Please find enclosed the current issue of our newsletter. As always, it provides information on a wide range of current regulatory topics in Europe, including the following:

• The Financial Stability Board (FSB) has published a report that examines developments and associated vulnerabilities relating to three segments of the crypto-asset markets: Unbacked crypto-assets (such as Bitcoin); stablecoins; and decentralized finance (DeFi) and other platforms on which crypto-assets trade.
• ESMA has published a supervisory briefing to ensure convergence across the European Union (EU) in the supervision of firms using tied agents, especially those based outside the EU. The briefing contains ESMA and National Competent Authorities’ (NCAs) common understanding on the supervision of firms using tied agents to provide investment services and/or activities.
• EBA has published its final draft implementing technical standards (ITS) on Pillar 3 disclosures on environmental, social and governance (ESG) risks under the Capital Requirements Regulation (CRR).
• Italy’s Consob launched a new consultation with the market on proposed amendments to the Issuers’ Regulation, which would adapt the domestic system to the new EU rules on the cross-border distribution of investment funds (CBDF Directive and Regulation) and the EU regulation on the disclosure of sustainability in the financial services sector (SFDR Regulation) as well as the EU regulation on the setting up of a framework beneficial to sustainable investments (Taxonomy Regulation).
• In Luxembourg, the CSSF has published a non-binding document in the form of a white paper to assist interested professionals in the conduct of their due diligence process related to DLT. It also provides guidance for using DLT when providing services in the Luxembourg financial sector.

We hope that you will enjoy and benefit from the enhanced insights of the Financial Regulatory Hub Europe. We would very much appreciate your feedback on the new format or thoughts on how we can better meet your needs—we look forward to hearing from you.

Enjoy the read!