In the summary report published today, the EBA has identified 25 recommendations collectively leading to a potential reduction of the banks’ reporting costs by up to 15-24%, focusing primarily on small and non-complex institutions. However, the recommendations will improve reporting requirements and processes for all institutions whilst retaining the end-user benefits of the single supervisory framework. The recommendations address four broad areas:
- changes to the development process for the EBA reporting framework;
- changes to the design of EBA supervisory reporting requirements and reporting content;
- coordination and integration of data requests and reporting requirements;
- changes to the reporting process, including the wider use of technology.
The study also identified the need to remove barrier to the wider adoption by institutions of FinTech and RegTech solutions as well as to promote better digitalisation of the institutions’ internal documents and contracts.
This update includes additional indicators on the topics of COVID-19, funding plans, resolution, and remuneration, as well as updates to other indicators, which are used to better understand institutions’ profitability, exposures to sovereign counterparties and own funds requirements for operational risk, among other things.
This guidance, which describes how risk indicators are computed in EBA publications, allows competent authorities and users of EBA data to interpret key bank figures in a consistent fashion when conducting their risk assessments and analyses.
The identification of large investment firms, which will be subject to the application of the Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD), depends on the size of the investment firms and of the groups they belong to. Based on the feedback received in the first consultation, which the EBA launched on 4 June 2020, concerns were raised on the level playing field between undertakings, which are part of groups domiciled in the EU and undertakings operating in the EU, which are part of groups domiciled outside of the EU. The amended proposals included in this consultation aim at ensuring that the framework is neutral with regards to geographical limitations.
These draft RTS set out a proportionate and technically consistent methodology for the calculation of the level of total assets to be compared to the EUR 30 bn threshold and further clarify the notion of relevant entity. Finally, they clarify elements related to the application of accounting standards, the treatment of branches, and the treatment of intragroup exposures.
The Annual Report describes the anti-money laundering challenges brought by the COVID-19 pandemic, and
presents the major MONEYVAL activities and results achieved in 2020 in the area of mutual evaluations
and their follow-up. MONEYVAL member states and jurisdictions continue on average to demonstrate a moderate level of effectiveness in their AML/CFT efforts. Thus, the median level of compliance is below the satisfactory threshold. MONEYVAL members demonstrate the best results in the areas of risk assessment, international cooperation and use of financial intelligence. Effectiveness remains particularly weak in financial sector supervision, private sector compliance, transparency of legal persons, money laundering convictions and confiscations, financial sanctions for terrorism and proliferation of weapons of mass destruction.
(only in Italian)
Le modifiche sono volte a semplificare il procedimento dinanzi all’ACF e a migliorarne il funzionamento ed in particolare:
- allineano la definizione di “intermediari”, rilevante ai fini del Regolamento, con le nuove definizioni di “gestori di portali” e di “soggetti abilitati alla distribuzione assicurativa” introdotte a seguito delle più recenti modifiche del TUF;
- estendono l’ambito di operatività dell’ACF alle controversie relative alla violazione dell’obbligo di consegnare all’investitore il documento contenente le informazioni chiave (Key Information Document) di cui agli articoli 13 e 14 del Regolamento (UE) n. 1286/2014;
- definiscono meglio l’ambito di operatività dell’ACF, riferendolo alle controversie relative a operazioni o a comportamenti posti in essere entro il decimo anno precedente alla data di proposizione del ricorso;
- introducono, quali ipotesi di irricevibilità del ricorso, la pendenza di procedimenti arbitrali o giurisdizionali, l’esistenza di una precedente decisione di merito assunta dall’ACF ovvero all’esito di un procedimento giurisdizionale o arbitrale;
- ribadiscono che la presentazione del ricorso, il contraddittorio e lo scambio di documentazione devono avvenire esclusivamente attraverso il sistema telematico, richiedendo altresì alle parti di avvalersi della modulistica che sarà resa disponibile sul sito web dell’ACF;
- introducono previsioni volte ad agevolare la composizione bonaria della controversia e l’adempimento delle decisioni;
- disciplinano in modo più puntuale il regime dei termini per la conclusione del procedimento allo scopo di velocizzare la fase decisoria.
Le modifiche entreranno in vigore dal 1° ottobre 2021.
(only in Italian)
Si ricorda che l’art. 64 prevede semplificazioni per il rilascio delle garanzie sui finanziamenti a favore di progetti del Green New Deal europeo ed in particolare:
- progetti tesi ad agevolare la transizione verso un’economia pulita e circolare e ad integrare i con tecnologie a basse emissioni per la produzione di beni e servizi sostenibili;
- progetti tesi ad accelerare la transizione verso una mobilità sostenibile e intelligente, con particolare riferimento a progetti volti a favorire l’avvento della mobilità multimodale automatizzata e connessa, idonei a ridurre l’inquinamento e l’entità delle emissioni inquinanti, anche attraverso lo sviluppo di sistemi intelligenti di gestione del traffico, resi possibili dalla digitalizzazione.