Time is slipping away for proprietary trading firms (PTFs) and other financial institutions preparing to comply with the Digital Operational Resilience Act (DORA). With the January 17, 2025, implementation date looming, the Dutch Authority for the Financial Markets (AFM) has issued a candid report that paints a mixed picture of readiness.
The European Insurance and Occupational Pensions Authority (EIOPA) has just released its much-anticipated 2024 Stress Test, and it’s good news—sort of. European insurers are shown to be resilient enough to handle significant geopolitical disruptions, but the cost could be steep. It’s a mixed bag of reassuring strength and a reality check for the industry.
The European Securities and Markets Authority (ESMA) is making moves to fine-tune equity market transparency rules under MiFID II. On December 16, ESMA released its Final Report, laying out targeted changes that aim to simplify pre- and post-trade reporting, reduce redundant obligations, and make equity data more useful and accessible.
The Office of the Comptroller of the Currency (OCC) has issued its Semiannual Risk Perspective for Fall 2024, painting a mixed picture of the federal banking system. While banks remain fundamentally sound, the OCC is waving red flags on growing risks—from stubborn commercial real estate stress to cyber threats and increasingly sophisticated fraud schemes. In short, this isn’t the time for banks to get comfortable.
The Basel Committee on Banking Supervision has officially closed the book on a 25-year-old rulebook, unveiling final guidelines for counterparty credit risk (CCR) management that aim to address vulnerabilities exposed in recent financial turmoil. Announced on December 11, 2024, these guidelines target the persistent weaknesses in CCR, particularly in dealings with non-bank financial intermediaries (NBFIs), which have recently made headlines for all the wrong reasons.
As the global financial landscape grapples with a series of profound challenges, the Austrian Financial Market Authority (FMA) is preparing for a busy and transformative year ahead. In a recent briefing, FMA Executive Directors Helmut Ettl and Eduard Müller highlighted their strategic priorities for 2025, emphasizing that Austria’s financial environment is unlikely to improve in the short term.
As 2025 looms on the horizon, the regulatory landscape is bracing for seismic changes. Dubbed the "Year of Regulatory Shift," the upcoming year is expected to reshape the rules governing technology, data risks, consumer protections, and corporate governance. This prediction, highlighted in KPMG US's latest Ten Key Regulatory Challenges of 2025 report, signals a turning point for organizations aiming to navigate a web of emerging risks.