BIS/IOSCO: Implementation monitoring of the PFMI – Level 3 assessment on financial market infrastructures’ cyber resilience
The report reviews the state of cyber resilience (as of February 2021) at a sample of 37 FMIs from 29 jurisdictions. The report finds a reasonably high adoption of the 2016 guidance on cyber resilience for financial market infrastructures by FMIs. but is concerned that a small number of FMIs are not fully meeting expectations regarding the development of cyber response and recovery plans to meet the two-hour recovery time objective. Other concerns relate to shortcomings in established response and recovery plans; a lack of cyber resilience testing after a significant system change; a lack of comprehensive scenario-based testing; and inadequate involvement of relevant stakeholders in testing of their responses.
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Last updated · 13 Mar 2026
Regulatory News - ESG – Environmental, social and governance
See allECB: Speech by Frank Elderson: Nature in decline, economy on the line – the importance of international cooperation for managing nature-related risks
Text of Frank Elderson’s speech of 9 March 2026 follows.
ESMA: Speech by Verena Ross
Text of Verena Ross’s speech of 5 March 2026 has now been published. Topics include: AI; cryptoassets; sustainable finance; T+1.
EC: Taxonomy Regulation – technical advice
DG FISMA has invited the ESAs to develop technical advice in order to inform the review of the Disclosures Delegated Act under the Taxonomy Regulation.
EC: CSRD/CS3D
The following has been published in the Official Journal: Directive (EU) 2026/470 of the European Parliament and of the Council of 24 February 2026 amending Directives 2006/43/EC, 2013/34/EU, (EU) 2022/2464 and (EU) 2024/1760 as regards certain corporate sustainability reporting requirements and certain corporate sustainability due diligence requirements.
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ECB: Sound credit, sustainable growth
Text of Sharon Donnery’s blog of 24 February 2025 on sustainable credit follows.