EBA Amends Recommendation on Equivalence of Confidentiality Regimes
EBA published its amended recommendations (EBA/REC/2015/01) on the equivalence of confidentiality regimes. The equivalence assessment of EBA is based on the relevant provisions of the Capital Requirements Directive (CRD IV) and has considered certain third-country authorities as equivalent.
The following are the third-country authorities that have been considered to be equivalent:
- The ADGM Financial Services Regulation Authority—the Abu Dhabi Global Market
- The Financial Supervisory Service—the Republic of South Korea
- The National Bank of Moldova—the Republic of Moldova
- The Securities and Futures Commission—Hong Kong
The results were published, in 2015, in a first set of recommendations, which were amended in December 2017 and June 2018, to include other third-country authorities that were assessed as equivalent. The assessment is an ongoing process and EBA has, since then, completed the assessment of a further set of authorities. Thus, the outcomes of these new assessments are reflected in the present amending recommendations. As a next step, the recommendations will be translated into the official languages of the EU and published on the EBA website. The deadline for competent authorities to report whether they comply with the recommendations will be two months after the publication of the translations.
Related Links
Keywords: Europe, EU, Banking, Securities, Recommendations, Confidentiality Regime, CRD IV, Equivalence, EBA
Previous Article
EIOPA Publishes Result of the Work of EU-US Insurance Dialog ProjectRelated Articles
News
APRA Publishes Proposal to Increase Transparency of Banking DataAPRA proposed to substantially increase the volume and breadth of data it makes publicly available on authorized deposit-taking institutions, including banks, credit unions, and building societies.
December 05, 2019
WebPage
Regulatory News
|
News
ESMA Consults on Guide to Internal Controls for Credit Rating AgenciesESMA launched a consultation on the guidelines on internal controls for credit rating agencies (CRAs).
December 05, 2019
WebPage
Regulatory News
|
News
EU Finalizes Directive and Prudential Rules for Investment FirmsEU published, in the Official Journal of the European Union, the Directive (2019/2034) and Regulation (2019/2033) on the prudential requirements and supervision of investment firms.
December 05, 2019
WebPage
Regulatory News
|
News
OSFI Revises Guideline on Principles for Management of Liquidity RiskOSFI finalized Guideline B-6 on the principles for the management of liquidity risk.
December 05, 2019
WebPage
Regulatory News
|
News
PRA Consults on Framework to Manage Outsourcing and Third-Party RiskPRA published a consultation paper CP30/19 that sets out proposals to modernize the regulatory framework on outsourcing and third-party risk management.
December 05, 2019
WebPage
Regulatory News
|
News
BoE, PRA, and FCA Consult to Strengthen Operational ResilienceBoE, PRA, and FCA published a shared policy summary and coordinated consultation papers on new requirements to strengthen operational resilience in the financial services sector.
December 05, 2019
WebPage
Regulatory News
|
News
EC Amends Rule on Mapping of External Credit Assessment InstitutionsEC published the implementing regulation (EU) 2019/2028, which amends Regulation 2016/1799, regarding the mapping tables specifying correspondence between the credit risk assessments of external credit assessment institutions (ECAIs) and the credit quality steps set out in the Capital Requirements Regulation.
December 04, 2019
WebPage
Regulatory News
|
News
EBA Issues Second Part of Advice on Implementation of Basel III in EUEBA published the second part of its advice on the implementation of Basel III in EU, which complements the report published on August 05, 2019.
December 04, 2019
WebPage
Regulatory News
|
News
EU Approves European Council Proposal on CCP Recovery and ResolutionEU ambassadors approved the position of European Council on a proposed framework for clearing houses and their authorities to prepare for and deal with financial difficulties.
December 04, 2019
WebPage
Regulatory News
|
News
OSFI Releases Guideline on Foreign Bank Branch Deposit RequirementsOSFI released the final version of Guideline A-10 on foreign bank branch deposit requirements, along with guideline impact analysis statement.
December 04, 2019
WebPage
Regulatory News
|