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Items tagged with "EU"

EBA responds to market dynamics with revised reporting requirements for market risk

The European Banking Authority (EBA) has announced substantial amendments to the reporting requirements for market risk, largely in recognition of the EU’s Fundamental Review of the Trading Book (FRTB). The updates are designed to align reporting standards with evolving market dynamics and regulatory frameworks.

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ESAs seek input on ESAP technical standards

Seamless EU-wide business data access is a step closer with this week’s publication of the European Single Access Point (ESAP) draft implementing technical standards (ITS). ESAP aims to provide easy access to publicly available data relevant to financial services, capital markets, and sustainability.

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Corporates face fines under EU ESG due diligence directive

In hand with the Corporate Sustainability Reporting Directive (CSRD), the EU published a second environmental and social sustainability-focused directive this December – the Corporate Sustainability Due Diligence Directive (CSDDD).

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EFRAG seeks input on ESRS implementation guidance

The European Financial Reporting Advisory Group (EFRAG) has released its first three draft ESRS (European Sustainability Reporting Standards) Implementation Guidance documents for public feedback.

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EU issues ESAP legislation

This week Europe published agreed-upon regulation to establish the European Single Access Point (ESAP). Designed to provide centralised access to publicly relevant data from across EU member states, ESAP has the potential to be a game-changer for digital data in Europe.

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DORA enters next chapter with second batch of policy products

The European Supervisory Authorities (ESAs) kick off a public consultation on the second batch of policy mandates under the Digital Operational Resilience Act (DORA). Enacted on January 16, 2023, DORA is set to be in full swing from January 17, 2025, harmonising operational resilience rules for 21 types of financial entities.

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ESMA guidance drops

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published an update to the European Single Electronic Format (ESEF) XBRL taxonomy 2022 files and the ESEF Conformance Suite 2023 to facilitate the implementation of the ESEF Regulation.

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European supervisory authorities unveil joint independence criteria

The European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Markets Authority (ESMA) have jointly released criteria on the independence of supervisory authorities.

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ESMA’s conducts first annual assessment of data reporting service providers

The European Securities and Markets Authority (ESMA) has undertaken its inaugural annual assessment of Data Reporting Service Providers (DRSPs). Drawing on data from 2022, the assessment found that two DRSPs have exceeded derogation thresholds, putting them in sights of ESMA for supervision next year, if they exceed the criteria again.

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European parliament votes to retain reporting standards for EU listed companies

With a narrower majority than expected, the European Parliament has chosen to uphold the European Sustainability Reporting Standards (ESRS), safeguarding them from potentially being scrapped this week.

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