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Oct 17, 2024 | 
lexology.com | Patrick Brandt |Ciara Brady |Sarah Lee |Louise Hogan
A number of financial market representative bodies (including AFME, EACH and ECSADA) recently issued a joint statement in which they call on the European Supervisory Authorities (ESAs) to clarify that regulated financial services should not be treated as ‘ICT services’ for the purpose of the Digital Operational Resilience Act (DORA).
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Aug 23, 2024 | 
lexology.com | Patrick Brandt |Ciara Brady |Louise Hogan |Sarah Lee
On 26 July 2024, the European Supervisory Authorities (ESAs) published final draft regulatory technical standards (RTS) on the subcontracting of information, communication and technology services that support critical or important functions (or material parts thereof) within financial entities (Critical ICT Services). The draft RTS are the final draft policy product to be published by the ESAs, as mandated under the Digital Operational Resilience Act (DORA).
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Aug 14, 2024 | 
lexology.com | Patrick Brandt |Sarah Lee |Ciara Brady |Louise Hogan
The European Securities and Markets Authority (ESMA) published a consultation paper on draft guidelines on the reverse solicitation exemption for third-country firms under the Markets in Crypto-Assets Regulation (MiCAR) at the end of January 2024. BackgroundUnder Article 59 of MiCAR, entities will require an authorisation to provide crypto-asset services within the EU unless an exemption applies.
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Aug 8, 2024 | 
lexology.com | Patrick Brandt |Ciara Brady |Louise Hogan |Sarah Lee
On 5 July 2024, the European Banking Authority (EBA) published a statement on the application of the Markets in Crypto-Assets Regulation (MiCAR) to issuing, offering and admission to trading of asset-referenced tokens (ARTs) and e-money tokens (EMTs). The EBA’s statement addresses various stakeholders, including issuers and offerors of ARTs and EMTs, consumers, crypto-asset service providers and national competent authorities (i.e. EU national regulators).
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Aug 1, 2024 | 
lexology.com | Patrick Brandt |Ciara Brady |Louise Hogan |Sarah Lee
On 5 July 2024, the EBA published a document setting out its supervisory priorities for issuers of ARTs and EMTs that are subject to the regulatory framework for ARTs and EMTs under Titles III and IV of MiCAR.
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Jul 30, 2024 | 
lexology.com | Patrick Brandt |Louise Hogan |Sarah Lee |Ciara Brady
The EBA Single Rulebook for DORA has been updated with a new question and answer relating to the applicability of DORA to EU branches of credit institutions that are headquartered outside of the EU (referred to as ‘third-country branches’).
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Jul 26, 2024 | 
biorxiv.org | Patrick Brandt |Dawayne Whittington |Kimberley Wood |Christopher Holmquist
AbstractA doctoral-level internship program was developed at the University of North Carolina at Chapel Hill with the intent to create customizable experiential learning opportunities for biomedical trainees to support career exploration, preparation, and transition into their post-graduate professional roles. We report the outcomes of this program over a five-year period.
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Jun 11, 2024 | 
lexology.com | Chris Bergin |Patrick Brandt |Dario Dagostino |Mark Devane |James Grennan |Sarah Lee | +1 more
On 5 June 2024, the Central Bank of Ireland (Central Bank) published a new guidance document outlining practical guidance on the application process for individuals proposed to hold pre-approval controlled functions. The guidance applies to regulated financial service providers and in-scope holding companies. It sets out information on the technical aspects of submitting applications via the Central Bank’s IMAS portal, including information regarding access to, and tips for navigating, the portal.
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May 22, 2024 | 
lexology.com | Dario Dagostino |Patrick Brandt |Mark Devane |Sarah Lee
The ECB has indicated that its Banking Supervision team will continue to assess banks’ progress in enhancing their internal audit function through peer benchmarking, sharing good practices and ongoing industry dialogue. In its most recent Supervision Newsletter, the European Central Bank (ECB) published an article outlining examples of good practices in banks’ internal audit functions that it has observed during extensive reviews over the past few years.
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May 20, 2024 | 
lexology.com | Patrick Brandt |Ciara Brady |Louise Hogan |Sarah Lee
The final elements of the European Commission’s proposed legislative package of enhanced anti-money laundering and counter-terrorist financing (AML/CFT) rules have been adopted by the European Parliament.
