Regulatory overview

Discover the latest regulatory news with SGSS' experts.

Find out all about the Pilot Regime, designed to test the use of distributed ledger technologies (DLT) in market infrastructure, through our interview with Alain Rocher, Head of Knowledge Management at Societe Generale Securities Services.


Click here to read the Insight related to this video.

 

The ISO 20022 format has just been adopted for electronic data interchange between financial institutions for Corporate Actions. What is it about and why is this change necessary? Interview with Pierre Colladon, Senior Advisor Public Affairs and Regulation at Societe Generale Securities Services.

Click here to read the Insight related to this video.
Analysis of key regulatory initiatives

Discover a general overview of the key regulatory initiatives.

Community and International news

AlleInternational and European news
CSDR Refit Commission formalises proposals for amendments
On 16 March 2022, the European Commission (EC) published its draft revision of the CSDs Regulation (CSDR 909/2014).
International and European news
On 16 March 2022, the European Commission (EC) published its draft revision of the CSDs Regulation (CSDR 909/2014).
CSDR Refit Commission formalises proposals for amendments
Digital finance: MICA vote in the European Parliament
The European Parliament's Committee on Economic and Monetary Affairs (ECON) voted on 14 March 2022 on the Parliament's...
International and European news
The European Parliament's Committee on Economic and Monetary Affairs (ECON) voted on 14 March 2022 on the Parliament's final version of the MICA regulation on new digital assets.
Digital finance: MICA vote in the European Parliament
Packaged Retail Investment and Insurance-based Products (PRIIPS)
PRIIPS Regulatory Technical Standards (RTS) have been amended by the regulation (EU) 2021/2268 and shall apply,...
International and European news
PRIIPS Regulatory Technical Standards (RTS) have been amended by the regulation (EU) 2021/2268 and shall apply, according to the current text, from 1 July 2022.
Packaged Retail Investment and Insurance-based Products (PRIIPS)
EMIR 2.2 – compensation: Extension of equivalence of UK CCPs
On 8 February 2022, the European Commission (EC) officially announced the extension of its temporary recognition.
International and European news
On 8 February 2022, the European Commission (EC) officially announced the extension of its temporary recognition.
EMIR 2.2 – compensation: Extension of equivalence of UK CCPs
Esma prioritises the fight against greenwashing in its sustainable finance roadmap
On 11 February 2022, the European Securities and Markets Authority (ESMA) published its Sustainable Finance Roadmap...
International and European news
On 11 February 2022, the European Securities and Markets Authority (ESMA) published its Sustainable Finance Roadmap 2022-2024 and on 21 February 2022, the Sustainable Finance- implementation timeline.
Esma prioritises the fight against greenwashing in its sustainable finance roadmap
ESAs publish updated joint supervisor statement on the application of SFDR
On 24 March 2022, the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published an updated joint...
International and European news
On 24 March 2022, the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published an updated joint supervisory statement on the application of the Sustainable Finance Disclosure Regulation (SFDR).
ESAs publish updated joint supervisor statement on the application of SFDR
SFDR: EU Commission validated RTS
On 6 April 2022, the European Commission adopted a delegated act containing technical standards (RTS) that financial...
International and European news
On 6 April 2022, the European Commission adopted a delegated act containing technical standards (RTS) that financial market participants should apply when publishing sustainability information in the context of the Regulation on the Publication of Sustainability Information in the Financial Services Sector (SFDR – Sustainable Finance Disclosures Regulation),...
SFDR: EU Commission validated RTS
Proposal for a European Withholding Tax framework
The European Parliament adopted a resolution on 10/03/2022 on a European framework for withholding tax.
International and European news
The European Parliament adopted a resolution on 10/03/2022 on a European framework for withholding tax.
Proposal for a European Withholding Tax framework
Esma proposes reforms to improve resilience of money markets funds
On 16 February 2022, the European Securities and Markets Authority (ESMA) is issuing an Opinion containing proposed...
International and European news
On 16 February 2022, the European Securities and Markets Authority (ESMA) is issuing an Opinion containing proposed reforms to the regulatory framework for EU Money Market Funds (MMFs) under the Money Market Funds Regulation (MMFR).
Esma proposes reforms to improve resilience of money markets funds
Common supervisory action on MIFID II costs and charges
On 8 February 2022, the European Securities and Markets Authority (ESMA) is launching a common supervisory action (CSA)...
International and European news
On 8 February 2022, the European Securities and Markets Authority (ESMA) is launching a common supervisory action (CSA) with National Competent Authorities (NCAs) on the application of MiFID II costs and charges disclosure rules across the European Union (EU).
Common supervisory action on MIFID II costs and charges
Esma sees EMIR and SFTR data quality improve
On 1st April 2022, the European Securities and Markets Authority (ESMA) published the second edition of its Data Quality...
International and European news
On 1st April 2022, the European Securities and Markets Authority (ESMA) published the second edition of its Data Quality Report based on data gathered under the European Markets Infrastructure Regulation (EMIR) and, for the first time in 2021, the Securitised Financing Transactions Regulation (SFTR) reporting regimes.
Esma sees EMIR and SFTR data quality improve

National news

AlleNational news
ES - CNMV technical guide on management and control of liquidity of CIUs
On 28 January 2022, the Spanish Securities Market Commission (Comisión Nacional del Mercado de Valores) “CNMV” has...
National news
On 28 January 2022, the Spanish Securities Market Commission (Comisión Nacional del Mercado de Valores) “CNMV” has published Technical Guide 1/2022 on the management and control of liquidity of Collective Investment Undertakings (CIUs).
ES - CNMV technical guide on management and control of liquidity of CIUs
IR - Central Bank announces new crowdfunding regulatory regime
On 13 January 2022, the Central Bank of Ireland has announced a new regulatory regime for Crowdfunding Service Providers...
National news
On 13 January 2022, the Central Bank of Ireland has announced a new regulatory regime for Crowdfunding Service Providers under EU Regulation.
IR - Central Bank announces new crowdfunding regulatory regime
IT – New MoU regarding public offers on debt securities
On 29 March 2022, the Bank of Italy and Consob have signed a new memorandum of understanding (MoU) on the exchange of...
National news
On 29 March 2022, the Bank of Italy and Consob have signed a new memorandum of understanding (MoU) on the exchange of information on banks that make public offers relating to debt securities (so-called 'infobond').
IT – New MoU regarding public offers on debt securities
LU - CSSF publishes User Guide allowing CSDs to submit the settlement fails reporting
On 10 March 2022, the Commission de Surveillance du secteur financier (CSSF) published User Guide allowing CSDs to...
National news
On 10 March 2022, the Commission de Surveillance du secteur financier (CSSF) published User Guide allowing CSDs to submit the settlement fails reporting as per Article 7 of the Central Securities Depository Regulation.
LU - CSSF publishes User Guide allowing CSDs to submit the settlement fails reporting
UK – BREXIT FCA updates on Onshoring and the Temporary Transitional Power
On 31 March 2022, the Financial Conduct Authority (FCA) updated on Onshoring and the Temporary Transitional Power.
National news
On 31 March 2022, the Financial Conduct Authority (FCA) updated on Onshoring and the Temporary Transitional Power.
UK – BREXIT FCA updates on Onshoring and the Temporary Transitional Power
US – SEC Issues Proposal to shorten the standard settlement cycle (T+1)
On 9 February 2022, the Securities and Exchange Commission voted to propose rule changes to reduce risks in the...
National news
On 9 February 2022, the Securities and Exchange Commission voted to propose rule changes to reduce risks in the clearance and settlement of securities, including by shortening the standard settlement cycle for most broker-dealer transactions in securities from two business days after the trade date (T+2) to one business day after the trade date (T+1).
US – SEC Issues Proposal to shorten the standard settlement cycle (T+1)
FR – Joint testing to combat money laundering
The Autorité de contrôle prudentiel et de résolution (ACPR) is proposing an experiment on collaborative methods and data...
National news
The Autorité de contrôle prudentiel et de résolution (ACPR) is proposing an experiment on collaborative methods and data sharing in the field of anti-money laundering and terrorist financing (AML/CTF), and in particular the detection of suspicious transactions.
FR – Joint testing to combat money laundering
FR – Liquidity management - measures to promote a wider adoption of liquidity management tools
On 8 February 2022, the AMF is today launching a public consultation on several measures that specifically target these...
National news
On 8 February 2022, the AMF is today launching a public consultation on several measures that specifically target these existing optional tools (gates, swing pricing, anti-dilution levies).
FR – Liquidity management - measures to promote a wider adoption of liquidity management tools