Tune in for EU Banking and Finance Regulatory Newsletter, Sept 2023!

TLDR:

The Dentons EU Banking and Finance Regulatory Newsletter for September 2023 to January 2024 covers a wide range of regulatory topics in Europe, highlighting key developments in various countries. The focus areas include sustainable finance, ESG, and the implementation of regulations on markets in crypto assets. The European Securities and Markets Authority (ESMA) published articles on climate risk stress testing and greenwashing, while the European Insurance and Occupational Pensions Authority (EIOPA) launched a consultation on the prudential treatment of sustainability risks. The European Banking Authority (EBA) and ESMA published joint guidelines on the assessment of suitability for asset reference tokens and crypto-asset service providers. Other countries covered in the newsletter include the Czech Republic, Germany, Italy, the Netherlands, Romania, and Spain.

Article:

Please find enclosed the current issue of our newsletter. As always, it provides information on a wide range of current regulatory topics in Europe, including the following:

• Sustainable finance, ESG, and the implementation of Regulation (EU) 2023/1114 on markets in crypto assets (MiCAR) continued to be important topics in the second half of 2023.
• ESMA published various articles on climate risk stress testing and greenwashing and consulted on draft guidelines for the supervision of sustainability information for listed companies.
• EIOPA launched a consultation on the prudential treatment of sustainability risks in line with their mandate under the Solvency II Directive.
• EBA consulted on draft technical standards on capital requirements and stress tests for issuers under MiCAR, and published joint guidelines with ESMA on the assessment of suitability for asset reference tokens and crypto-asset service providers.
• Germany’s BaFin published a new section on its website dedicated to ESG issues and an interactive information sheet on sustainable financial products.
• Italy focused on the implementation of the UBO Register, with the government publishing a decree and the Bank of Italy providing clarity on reporting requirements.
• The Netherlands published a report and opened consultations on the implementation of MiCAR and Regulation (EU) 2023/1113 on information on crypto-asset transfers and fund transfers.
• Romania introduced new rules and standards for “ecological” financial instruments, requiring independent experts to verify compliance with sustainability principles.
• Spain published a Royal Decree establishing a controlled environment for testing compliance with proposed harmonized standards on artificial intelligence.

The Dentons EU Banking and Finance Regulatory Newsletter provides insights into the key regulatory developments in the EU and various countries. It highlights the importance of sustainable finance, ESG, and the implementation of regulations on markets in crypto assets. The newsletter covers updates from ESMA, EIOPA, and EBA on climate risk stress testing, greenwashing, prudential treatment of sustainability risks, and capital requirements for issuers. It also focuses on the actions taken by regulatory authorities in Germany, Italy, the Netherlands, Romania, and Spain to promote sustainable finance and implement new regulations. The newsletter serves as a valuable resource for keeping up with the latest developments in the banking and finance regulatory landscape in Europe.