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Financial Regulation: Weekly Update. 19 May 2017

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  • SSM publishes guidance on leveraged transaction for banks

It seeks to facilitate the identification of leveraged transactions to senior management, in order to establish sound risk management practices and promote funding of real economy.

  • ECB issues final guide to fit and proper assessment

Clarifies criteria and process for determining suitability of banks’ board members, explains potential conflicts of interest. Acknowledges national differences, aims to harmonise them.

  • Council of the EU adopts new rules on prospectuses

Within the Capital Markets Union project, these new rules aim at providing a new framework with simplified administrative obligations in relation to the publication of prospectuses.

  • Council of the EU adopts Money Market Funds rules

Common standards to i) ensure their structural stability; ii) ensure well-diversified and quality investments, and iii) increase their liquidity so they can face sudden large-scale withdrawals.

  • EBA consults on its guidance for the use of cloud computing

Seeks to clarify supervisory expectations for institutions adopting cloud computing, allows them to benefit from services and managing related risks adequately. Deadline: 18 Aug.

  • ESMA publishes a follow-up report on deficiencies of National Competent Authorities (NCAs)

The report shows how NCAs have tackled deficiencies identified in 2014 Peer Review on MiFID. Six have addressed all deficiencies, four are urged to complete by Jan 2018.

  • EIOPA publishes updated risk dashboard

It shows stable risk exposure of the EU insurance sector, identifying positive market developments. It also presents concerns regarding the low-yield environment.


  • BdE publishes report on banking supervision in Spain 2016

The main priorities 2016: The adaptation of regulatory amendments, review of credit quality, banks’ internal models and the monitoring of liquidity and financing risk, among others.




  • FCA signs Fintech cooperation agreement with Securities and Futures Commission

The agreement with Hong Kong’s SFC will foster collaboration in supporting Fintechs by sharing information and referrals of firms entering their markets.

  • PRA issues Policy Statement on accountability in banking and insurance

It provides feedback to previous consultation, seeking to strengthen individual accountability, among other things by improving the Senior Managers and Certification Regime.



Recent publications of interest (in English and Spanish):




Previous editions of our Weekly Regulatory Update in Spanish and English


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