International Accounting Standards Board meeting from 14 - 16 December 2021 deals with the topics
In its statement the AAE is deeply concerned about the effects of the climate crisis endangering mankind and imposing unprecedented risks for all economic sectors and in particular for insurance, reinsurance and finance.
Please find the position…
The heft of non-bank financial intermediaries (NBFIs) in the financial system has grown significantly since the Great Financial Crisis. BIS looks at the main drivers and consequences of their ascent, focusing on NBFIs' effect on the demand for and supply of liquidity. Hence, BIS develops a framework of systemic-risk propagation through NBFIs…
In early 2021, the AFM surveyed 245 firms that provide investment services under an AFM license about how they implement the professional qualification requirements. These investment firms were required to indicate how many of their employees are involved in providing investment advice and whether they have the required diplomas. The AFM also…
The German fund association BVI has published its quarterly report on the fund market in the third quarter of 2021. In it, a positive development of the sustainable fund market is also seen for the third quarter. In addition, the impact of the EU Disclosure Regulation is reported.
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The EDPB (European Data Protection Board) has published a letter to ENISA (European Union Agency for Cybersecurity) regarding the compatibility of the European Certification Scheme for Cybersecurity for Cloud Services (EUCS) with Schrems II.
In the letter, the EDPS reiterates his position from the May 19 letter to ENISA that the final…
The ECB has published the November edition of the Financial Stability Report 2021. In it, it concludes that the economic recovery in the euro area has reduced short-term pandemic-related risks to financial stability. However, vulnerabilities are increasing due to exaggerated valuations in some asset markets, high public and private debt, and…
The European Banking Authority has published a report on the potential impact of the net stable funding ratio on the functioning of precious metals markets. The report discusses the impact of the introduction of the NSFR on the precious metals market and analyzes the impact of potential changes to the regulatory treatment of physically traded…
EFAMA has published its latest Market Insights report entitled "The European ESG market - Introducing the SFDR". The full report breaks down the size of the European ESG market and provides an overview of investment companies' assets under management
These are the key findings of the report:
The German Federal Financial Supervisory Authority (BaFin) has set itself ten medium-term targets for the years 2022 to 2025. The targets have been published on the BaFin website and cover the following topics: