EU Supervisory Digital Finance Academy

We have just published our final #report on the new Regulatory Technical Standards (RTS) for subcontracting ICT services under DORA! 🛡️ 💻 These RTS will help financial entities manage #ICT risks better by setting clear rules for #subcontracting critical and important ICT functions. It completes our policy toolkit for #DORA, making the EU financial sector from banks to #insurers and pension funds more secure and resilient in a digital world. Go to the Final Report 🔽 https://europa.eu/!xKFxmh ... or visit our landing page on DORA for even more info 💡 https://europa.eu/!jXyWy4 #Resilience #RiskManagement #DigitalResilience #EUfinance #insurance #pensions #cybersecurity #outsourcing #EIOPA #regulation #DigitalFinance - with the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA). 🤝

📽 #EUSDFARewatch Check this #HDIW video featuring Iota - Kaousar Nassr, Policy Analyst at OECD - OCDE, where she demystifies the world of #Decentralized #Finance (DeFi). Dive into the complexities of #DeFi, a revolutionary system that seeks to replicate traditional financial markets in a decentralized, permission-less, and intermediary-free environment. 📽 Watch here https://lnkd.in/duy5Fh5F 👉 Subscribe to our Youtube channel https://lnkd.in/dg5sWeAE European Commission DG REFORM, Florence School of Banking & Finance, European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), European Securities and Markets Authority (ESMA), European University Institute, Robert Schuman Centre for Advanced Studies

👏 As we conclude the second year of the EU Supervisory Digital Finance Academy (EUSDFA), let's celebrate our milestones! These key figures reflect our commitment to building a strong community of #EU #supervisors, ready to tackle the challenges and opportunities in #digital #finance. 💠Trained 1,200 supervisors, enhancing their regulatory skills. 💠 Conducted 270 training sessions on key digital finance topics. 🎉 We are excited for the third year starting in Autumn '24 and look forward to continuing our mission to advance digital finance expertise across the EU. 🌐 Explore our activities on our website https://eusdfa.eui.eu/ European Commission DG REFORM, European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), European Securities and Markets Authority (ESMA), Florence School of Banking & Finance, Robert Schuman Centre for Advanced Studies, European University Institute

💡 Take a look at the second batch of policy products under the Digital Operational Resilience Act (#DORA) recently published by European Banking Authority (EBA), European Securities and Markets Authority (ESMA), European Insurance and Occupational Pensions Authority (EIOPA). Find more details here 👇

📚 Looking for a summer read? In case you missed it take the chance to dive into the world of #digital #finance with "Digital Finance in the EU: Drivers, Risks, Opportunities." e-book. You will find twelve contributions on the EU initiatives and global perspectives, digital finance technologies and drivers, and risks and opportunities. The e-book is a valuable resource for EU-SDFA participants looking to enhance their learning and for anyone interested in the intersection of #digital #finance and #supervision 👉 Download your copy now: https://loom.ly/sbfZXmM European Commission DG REFORM European Banking Authority (EBA) European Securities and Markets Authority (ESMA) European Insurance and Occupational Pensions Authority (EIOPA) Florence School of Banking & Finance

💡 As we conclude the second cycle of training of EU Supervisory Digital Finance Academy, we are eager to share insights from our journey in empowering digital finance supervisors. Our activities have focused on promoting the exchange of best practices and fostering community building. Our network of experts from #institutions, #academia, and the #private sector has been instrumental in keeping supervisors informed about the latest challenges in financial technology. 🤝 Since 2022, the European Commission's DG Reform has supported European member states' supervisory authorities in strengthening their capacity in #digital #finance #supervision. 📢 Building on this success, #DG Reform will launch the second edition of the #EUSDFA, spanning three academic cycles starting in 2025. Visit the link below to find the application form for the next edition, where we will continue enhancing #NCA's capabilities in digital finance. 📽 Watch https://lnkd.in/dMEvEkYK 📝 Application link https://bit.ly/3VWtT6u European Banking Authority (EBA) European Securities and Markets Authority (ESMA) European Insurance and Occupational Pensions Authority (EIOPA) Florence School of Banking & Finance European University Institute Robert Schuman Centre for Advanced Studies

📽 In this new #HDIW video, Valentina Kostyleva Mejdahl, Risk Analysis Officer at European Securities and Markets Authority (ESMA), provides an insightful overview of #regulatory #sandboxes and #innovation #hubs, their development since 2018, and their key challenges and benefits. These initiatives are crucial in fostering innovation in the financial sector while ensuring regulatory compliance and consumer protection. 💠 Regulatory Sandboxes These are controlled environments where firms can test new products and services under regulatory #supervision, promoting innovation with flexibility within #EU laws. 💠 Innovation Hubs These hubs serve as contact points for firms navigating #fintech regulations, offering guidance on compliance and aligning innovations with regulatory frameworks. Interest in these tools has surged, with Europe having 41 innovation hubs and 17 sandboxes as of October 2023, up from 21 and 5 in 2018. These tools help regulators stay informed on new technologies and provide firms with regulatory access and feedback. Challenges include #consumerprotection, managing expectations, regulatory capacity, and #crossborder #cooperation. Watch video here 👉 https://lnkd.in/dUwBjH79 European Commission DG REFORM European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), Florence School of Banking & Finance, Robert Schuman Centre for Advanced Studies, European University Institute

✈ The EU Supervisory Digital Finance Academy organised an insightful workshop on #Cloud #Computing, hosted by the Malta Financial Services Authority (MFSA). We were privileged to have presentations on the cloud journey from Dawit Meskel & Atilla Ökten from the European Banking Authority (EBA), with presentations delving into the critical stages of cloud migration, including: 💠 #Assessment: Evaluating infrastructure, applications, and data to determine feasibility. 💠 #Preparation: Admin and technical readiness for the transition. 💠 #Migration: The process of moving operations to the cloud. 💠 #Operation: Managing and optimizing the cloud environment. The workshop also addressed the challenges faced during this transition and provided solutions, with insights from Marcel Hofma & Gert Eijkelboom (De Nederlandsche Bank), Konrad Abela (Financial Intelligence Analysis Unit (FIAU) Malta), and Ivan Zammit (Malta Financial Services Authority (MFSA)). Participants also actively shared their stages in the cloud journey and the challenges they faced during migration. Among these challenges, security concerns, regulatory requirements, and skill gaps ranked highest. #EUSDFA is committed to addressing the skills gap challenge by providing targeted workshops to equip professionals with the necessary expertise for a seamless transition to cloud computing. Read more 👉 https://lnkd.in/d9Kcwmke European Commission DG REFORM, European Insurance and Occupational Pensions Authority (EIOPA), European Securities and Markets Authority (ESMA), Florence School of Banking & Finance, Robert Schuman Centre for Advanced Studies, European University Institute

💡 European supervisors have just published new joint Q&As related to: 🔸 the EU's Digital Operational Resilience Act, and 🔹 packaged #retail investment and #insurance products to support the consistent and effective application of the EU regulation in #financialservices. 💪 Check out the new answers on our website! 🔽 https://europa.eu/!JqqJ7Q - with the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA). #EUfinance #insurance #investing #finance #supervision #regulation #DORA #PRIIPs #digitalisation