Regulatory News
ESMA: Regulatory standards on the requirements for post-trade risk reduction services for the purpose of the clearing obligation exemption under EMIR
ESMA’s report sets out the conditions that providers and users of post-trade risk reduction services need to meet for certain OTC derivative transactions to be exempt from the clearing obligation under EMIR 3.
ESMA: Final report on the guarantees as CCP collateral and CCP investment policy
ESMA has published its final report containing draft regulatory technical standards amending Commission Delegated Regulation 153/2013 in relation to public guarantees, public bank guarantees and commercial bank guarantees as collateral and in relation to certain aspects of investment policy and highly secure arrangements for the deposit of financial instruments. ESMA will submit the report and draft regulatory technical standards to the EC.
ESMA: New Q&As
ESMA has published new Q&As relating to cryptoasset service providers, crowdfunding service providers and EMIR. These may be accessed via the following link.
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BIS: AML/CFT supervisory newsletter
BIS has published this summary of key themes and challenges discussed in recent supervisory exchanges and workshops related to AML/CFT. Specific areas covered include risk assessment and the role of AI in transaction monitoring.
ESMA: Revised CSDR Guidelines on standardised procedures and messaging protocols used between investment firms and their professional clients
The revised guidelines clarify how market participants should meet the new requirements on allocations and confirmations introduced by the amended regulatory technical standards on settlement discipline. In an accompanying press release, ESMA emphasises the deadline for investment firms and their clients to comply with the new requirements on allocations and confirmations from 7 December 2026.
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BIS: G=SIBs
BIS is consulting on whether to incorporate its previously agreed treatment of cross-border exposures within the European Banking Union into the G-SIB framework . Responses are required by 14 January 2027. BIS has also finalised amendments to address “window dressing” behaviour - banks will be required to report and disclose indicators used to calculate G-SIB scores based on average values over the reporting year, rather than year-end values. BIS is raising the G-SIB reporting and disclosure threshold from €200bn to €350bn in leverage ratio exposure measure – this will be implemented from 1 January 2027.
ESMA: MAR guidelines on delay in the disclosure of inside information
ESMA has updated and streamlined its MAR guidelines on the delay in the disclosure of inside information, This follows changes to the disclosure regime as implemented by the Listing Act.
FSB: Sound practices for responsible adoption of AI
Further to the June 2026 consultation, FSB has now published a summary of feedback and its final report. The report sets out 12 sound practices financial institutions are encouraged to consider to facilitate their responsible adoption of AI. The practices emphasise the importance of organisation-wide AI governance and provide a framework for managing risks throughout the AI lifecycle.
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EIOPA: Manual on pre-trade and post-trade transparency under MiFID II/ MiFIR
EIOPA has published updated its manual on transparency to provide further guidance on the identification of OTC derivatives subject to transparency requirements. New material on the application of the tick-size regime has also been added.
EIOPA: Sanctions and measures imposed in Member States in 2025
EIOPA has published its consolidated report on sanctions and measures imposed across the EEA in 2025, noting that national authorities imposed more than 950 administrative sanctions and measures during the period, with fines amounting to almost €82m. The report also highlights an increased use of settlements.
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