Regulatory News
ESMA has published Q&As on the onboarding of data contributors to the EU’s consolidated tapes, and on the operational rules for the consolidated tape providers.
EIOPA has published its annual report on the costs and past performance of retail investment products in the EU, covering the period from 1 January 2020 to 31 December 2024.
EIOPA has published its third report on the application of the IDD, which considers changes in insurance intermediaries' market structure, developments in cross-border activity, the quality of advice and selling methods, the impact of the IDD on insurance intermediaries that are SMEs, and whether competent authorities are sufficiently empowered and have adequate resources to carry out their tasks.
ECB reports that it is streamlining how it assesses changes to banks’ internal models for credit risk. By shifting from an ex ante to an ex post assessment, ECB states that it is making the approval process faster and more predictable for banks.
This update from the ESAs focuses on the challenges arising from ongoing geopolitical tensions and developments in private finance.
FSB has published its report on work undertaken in 2025.
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ESMA has issued advice to the Central Bank of Ireland and the Commission de Surveillance du Secteur Financier on investment restrictions for GBP LDI funds following notification that both intended to impose an investment restriction on AIFMs established in Ireland and Luxembourg and managing GBP-denominated AIFs pursuing a LDI funding strategy. ESMA agrees with the measure, which applies from 29 April 2024. GBP LDI funds established on or after this date must comply with the measure immediately while existing GBP LDI funds have a three-month transitional period to comply. The measure is not limited in duration. ESMA also invites other competent authorities of AIFMs managing such funds to adopt similar measures.
ESMA has issued eight opinions concerning product intervention measures in relation to CFDs and binary options taken by national competent authorities in Ireland, Italy, Luxembourg and Portugal.
The EC has announced that it is referring Luxembourg to ECJ for its failure to fully implement AMLD IV.
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ESMA's report assesses the level of compliance of six national competent authorities (Estonia, France, Germany, Ireland, Luxembourg, the UK) with regard to its guidelines on efficient portfolio management techniques (EPM). It calls for the authorities to ensure a more systematic and formalised review of the required disclosures; to provide more comprehensive internal supervisory guidance on costs, fees and revenues; to ensure that all net revenues from EPM are returned to investors and to revise existing national exemptions to the guidelines on collateral requirements granted in the UK and Germany so that fund assets can only be used for EPM purposes where UCITS receive high-quality and liquid collateral in accordance with the standards set out in the ESMA guidelines.
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