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Topics

1. Regulatory Change & Compliance
2. Sustainability
3. Risk Culture & Governance
4. Financial Crime
5. Data

Regulatory Change & Compliance

Focus areas : Brexit - Consumer protection – PRIIPs – Regulatory Outlook

• The ESMA has updated its Q&A on benchmarks, investor protection and crowdfunding service providers
• The FSMA has published its newsletter on the accreditation of training providers and FAQs on continuing professional education FR or NL
• The FSMA has published its newsletter on 2023 reporting on continuing professional education for intermediaries and credit providers FR or NL

Sustainability

Focus areas: Taxonomy – SFDR – CSRD – CSDDD – Sustainability preferences – Climate Risks – Greenwashing – Stress testing – ORSA – Protection Gap - …

Risk Culture & Governance

Focus areas: Business Continuity / Operational Resilience – COVID – Culture - Governance & Risk Management - Outsourcing – Recovery & Resolution - Solvency II

• The ESAs have published the Final Report on draft Regulatory Technical Standards putting forward amendments to sustainability disclosures for the financial sector
• The Working Group on Euro Risk-Free Rates has published its Final Statement
• The FSA has published its Final Report enhancing third-party risk management and oversight (a toolkit for financial institutions and authorities)
• The NBB has published its Circular on Financial Stability Reporting and with its relevant appendices FR or NL
• The IAIS has published its Global Insurance Market Reporting (GRIMAR)
• The EIOPA has published it assessment of the progress of supervision in IORP’s Prudent Person Rule compliance
• The EIOPA’s financial stability report weighs up insurers’ and pension funds’ challenges amid shifting macro landscape
• The EIOPA consults on its methodology for setting value-for-money benchmarks
• The EIOPA has published its Costs and Performance Report of EU retail investment products
• The NBB has published its Communication for the insurance and reinsurance sector on periodic reports and financial reports to be submitted to the Bank in 2024 FR or NL

Financial Crime

Focus areas: AML/CFT - Financial Crime – Fraud

• Deal reached by the EU Parliament and the Council of EU on the EU’s Anti-Money Laundering Authority (AMLA)
• The NBB has updated the section on its website dedicated to anti-money laundering and counter-terrorist financing (AML/CFT) FR or NL

Data

Focus areas: Cyber – Data Privacy – Technology / Data / Innovation – Information and Communication Technology – Open insurance

• The ESAs launch joint consultation on second batch of policy mandates under the Digital Operational Resilience Act
• The Regulation on European Single Point of Access has been adopted by the EU

The Ensur Insurance Regulatory Watch is not intended to serve as legal advice and is provided for informational purposes only. It is not intended to form the basis of any decisions and you should not rely on its content for any purposes whatsoever.