On October 8, the European Parliament published a press release announcing that it had adopted a resolution regarding the creation of a robust EU framework for crypto-assets, cyber resilience, data sharing and customer safety (the Press Release).

The basis of the resolution originates from a previous report that the Economic and Monetary Affairs Committee (ECON) had voted to adopt in September 2020.
Continue Reading European Parliament Adopts Resolution on Digital Finance and Data Sharing

On September 21, the European Supervisory Authorities (ESAs) published a survey setting out the details on mandatory disclosure templates on sustainability‐related disclosures in financial services (the Survey).
Continue Reading ESG: EU Survey on Mandatory Disclosure Templates for Use by Financial Services Firms

Katten hosts a weekly, 15-minute fireside chat podcast series on notable UK and European developments from the prior week’s Corporate & Financial Weekly Digest. This week, Neil Robson covers some proposed changes to the UK Financial Promotions/ investment advertising rules, including a proposal to include cryptoassets, as well, separately, as a proposal for a

On July 21, the European Supervisory Authorities (ESAs) (consisting of the European Securities and Markets Authority (ESMA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Banking Authority (EBA)) informed the European Commission in a letter of the outcome of the review conducted by the ESAs of the key information document (KID) for packaged retail and insurance-based investment products (PRIIPs).
Continue Reading ESAs Notify the European Commission About the Outcome of the Review of the PRIIPS Key Information Document

On July 29, the European Commission (EC) published a communication on equivalence in the area of financial services (Communication). The EC states that, in light of recent policy developments, it is timely to take stock of the EU’s approach to equivalence.

The Communication discusses the purpose and importance of equivalence. The EC states that each new decision is looked at individually and in detail to ensure that the policies of third countries are compatible with those of the EU, and that any equivalence determination is beneficial to, and sustainable for, both parties.EU financial services law includes approximately 40 provisions that allow the EC to adopt equivalence decisions and as of July 29, the EC has adopted more than 280 equivalence decisions for more than 30 countries.
Continue Reading European Commission Publishes Communication on Its Equivalence Policy With Non-EU Countries

On February 8, the Joint Committee of European Supervisory Authorities (ESAs) published a final report on proposed amendments to Commission Delegated Regulation (EU) 2017/653 (Delegated Regulation) on key information documents (KIDs) for packaged retail and insurance-based investment produces (PRIIPs).
Continue Reading ESAs Publish Final Report on Amendments to the PRIIPs Key Information Document

On November 13, the European Commission (EC) published a statement by Vice-President Valdis Dombrovskis on the regulation of cryptoassets and initial coin offerings (ICOs), which he presented at the European Parliament Plenary debate in Strasbourg.

Key takeaways include:
Continue Reading European Commission Publishes Statement on Regulating Cryptoassets and ICOs

On November 8, the Joint Committee of the European Supervisory Authorities (ESAs) published a consultation paper on draft joint guidelines on cooperation and information exchange between national competent authorities (NCAs) supervision credit and financial institutions for the purposes of the Fourth Money Laundering Directive (MLD4)
Continue Reading ESAs Publish Consultation Paper Relating to MLD4