EBA launched two public consultations on its draft Regulatory Technical Standards (RTS) on gross jump-to-default (JTD) amounts and its draft RTS on residual risk add-on (RRAO).
These draft RTS specify: i) how gross JTD amounts are to be determined for the purposes of calculating the default risk charge for non-securitisation instruments, and ii) how to identify instruments exposed to residual risks for the purposes of the residual risk add on (RRAO). These draft RTS are part of the phase 3 deliverables of the EBA roadmap for the new market and counterparty credit risk approaches. Both consultations run until 12 June 2021.
Consultation intends to assess how the EU rules on central securities depositories (CSDs) are working, especially:
- how CSDs are able to operate in different countries across the EU
- how requests to use their services are handled
- whether there are other substantive barriers to competition in this sector that need to be addressed.
The 2020 Retail Payments Strategy highlighted the need for an EU-wide instant payments scheme.
The impact assessment for the initiative will investigate whether:
- new legislation is needed in this field
- non-legislative measures would be appropriate, or
- other policy options are suitable.
The objective of the consultation is to collect data and evidence needed to evaluate the need for new rules on reporting and exchange of information for tax purposes on e-money and crypto assets as well as new rules on penalties and compliance measures for the various reporting obligations under the DAC framework and the potential scope of those provisions. To this aim the consultation should gather the views of the stakeholders concerned on the use of e-money and crypto-assets, what information is available and which reporting mechanisms could be used. Furthermore, it aims to gather views on appropriate penalties and compliance measures and the coordination of such measures among Member States.
The guidance is composed of three parts:
Part 1 – The high-level guidance on risk-based supervision, which explains how supervisors should assess the risks their supervised sectors face and prioritise their activities, in line with the FATF Standards’ risk-based approach.
Part 2 – Strategies to address common challenges in risk-based supervision & jurisdictional examples, including examples of strategies for supervising non-financial businesses and professions and virtual asset service providers.
Part 3 – Country examples from across the global network, of supervision of the financial sector, virtual asset service providers and other private sector entities.
Risk indicators supplement this report and will help public and private sector identify possible trade-based money laundering. The report includes risk indicators on:
- the structure of the business
- trade activity
- trade documents and commodities
- account and transaction activity
Consob has ordered the blackout of 4 new websites that abusively offer financial services:
– KBS Capital Markets Ltd (website https://royaltradefx.com and related page https://my.royaltradefx.com);
– Donnybrook Consulting Ltd (website www.eurofx.trade);
– Investigram Ltd (website www.investigram.com);
– FCS Technology Ltd (website https://stockmarketinvest.pro and related page https://client.stockmarketinvest.pro).
The number of websites blacked out since July 2019 has thus risen to 400.
