EBI - European Banking Institute’s Post

The introduction of the Conduct of Financial Institutions Act (COFI) will mark a pivotal moment in South Africa's #financial #regulatory landscape. Compli-Serve’s MD, Richard Rattue says: “I am not brave enough to predict an effective date, however, we can reasonably expect promulgation during the course of 2024." COFI aims to consolidate and streamline the current sectoral approach of financial sector #regulation, focusing on customer-centric market conduct. "Key considerations for #compliance under COFI include enhanced transparency, fair treatment of customers, and the obligation of financial institutions to act in their customers' best interests. Though it creates further compliance requirements, COFI is an important step in enhancing trust and stability in the financial sector,” he says. #TopComplianceTips24

📣👨⚖️Attention UAE based Banking and Finance lawyers👨⚖️📣 Exciting news!! LexisNexis Middle East is hosting the latest installment in the hugely popular breakfast seminar series😎. This seminar will focus on the current ambiguity around sufficient securities under UAE law😵. Moderated by the fantastic Bushra Ahmed; the panel will include Jody Waugh Managing partner of Al Tamimi & Company and Robert Lewsley of Standard Chartered and Catriona McDevitt of Hadef & Partners (one more superstar TBA). They will discuss the current state of the law and impart their extensive wisdom🔮 on the issues being faced by banks within the region. Don't miss this opportunity to gain insights from the experts and stay up-to-date on the latest developments in UAE law⚖. Register below to secure your spot at this informative seminar. #BankingLaw #FinanceLaw #UAE #LegalUpdates #LexisNexisMiddleEast #stayinformed

➡ Today Ugo Bassi – Director of Financial Markets at DG FISMA EU Economy and Finance– took part in the 21st Market Regulation Committee (MRC) to share considerations on the challenges ahead in view of the next legislative cycle, in particular, on how to reconcile an effective CMU with the green and digital transitions and improve the competitiveness of the EU financial market. Thank you very much Ugo Bassi for your consideration and pragmatic vision on the challenges that await financial intermediaries and savings banks in particular soon. Happy to continue such a frank and fruitful dialogue with you. European Commission #greentransition #digitaltransition #financialmarkets #CMU #FISMA #savingsbanks

📣Attention UAE based Banking and Finance lawyers📣 Exciting news!! LexisNexis Middle East is hosting the latest installment in the hugely popular breakfast seminar series. This seminar will focus on the current ambiguity around sufficient securities under UAE law. Moderated by the fantastic Bushra Ahmed; the panel will include Jody Waugh Managing partner of Al Tamimi & Company and Robert Lewsley of Standard Chartered amongst others. They will discuss the current state of the law and impart their extensive wisdom🔮 on the issues being faced by banks within the region. Don't miss this opportunity to gain insights from the experts and stay up-to-date on the latest developments in UAE law⚖. Register below to secure your spot at this informative seminar. #BankingLaw #FinanceLaw #UAE #LegalUpdates #LexisNexisMiddleEast #stayinformed

🌍 #FEDEMACWeeklyNews (11.04.2024) Important developments from Brussels as FIDI Global Alliance gears up to revolutionize financial transactions within the international moving industry. The upcoming financial netting service promises to streamline the payment process, significantly reducing costs and mitigating risks for its members. This innovative approach will allow companies to consolidate their transactions, simplifying the monthly payment ordeal into a more efficient and cost-effective operation. Hosted in Switzerland, this initiative underlines FIDI's commitment to enhancing operational efficiency across its network. Members are encouraged to participate in this transformative journey, with educational sessions planned to further elucidate the benefits of this system. Discover how FIDI is setting a new standard in financial management within the moving industry. For more insights, follow the link: https://lnkd.in/eq5n6-e6 FEDEMACWeeklyNews. #FIDI #NettingService #FinancialInnovation #MovingIndustry #FEDEMAC

“The EU Anti-Money Laundering Authority (AMLA) should serve as a central AML supervisory body, coordinate with Financial Intelligence Units, and facilitate information sharing among all AML stakeholders, especially through Public-Private Partnerships,” concluded Roger Kaiser, EBF’s Head of Tax & Compliance, at the 24th Policy Series seminar titled “The new European Anti-Money Laundering Authority (AMLA) – An Introduction,” hosted by the EBI - European Banking Institute. During the event, which also featured insightful contributions from Andrea Minto of the University of Venice and Olena Loboiko from the European Commission, Kaiser emphasized that the establishment of AMLA presents a unique opportunity to enhance the effectiveness of AML/CFT regulation and supervision. This improvement is essential for maintaining financial stability, ensuring security in Europe, and preserving the integrity of financial markets.

Join us at SCI's Emerging Europe SRT Seminar on June 18th! Explore the forefront of Significant Risk Transfer (SRT) in Central & Eastern Europe with our expert panellists. Is there such a thing as a CEE SRT market? The CEE region offers unique dynamics with diverse jurisdictions and evolving securitisation landscapes. Dive into discussions on: - Interplay between SRT and regional legal frameworks - Regulatory support for synthetic securitisation - Key challenges and opportunities in the CEE SRT market - Identifying portfolios for homogeneous reference pools - Exploring possibilities for multi-jurisdictional or multi-asset class trades Panelists: Pawel Turek, DLA Piper Harry Noutsos, PCS Wasif Kazi, UniCredit François-Xavier Roos, BNP Paribas Alexa Molnar-Mezei, Erste Group Don't miss out on this insightful event! Register now: https://lnkd.in/e6zcyyNK #SRT #EmergingEurope #Securitisation #Finance #CEE #Networking #Banking #RegulatoryFrameworks

The proposal of the European Commission on a framework for Financial Data Access (FIDA) it's a challenging and crucial dossier on which ABI is working hardly also in coordination with the European Banking Federation in order to find a more balanced approach and to avoid the risk of unfair competition for EU financial institutions. The Report yesterday approved by the ECON Committee is a first step in the right direction, but there is still a lot of further work needed, also in the perspective of the new European Parliament and the new European Commission.

📚 PUBLICATION: EBI Working Paper Series No. 151 “The principle of proportionality as an area of national discretion” by Bart Joosen (Leiden University) was published on 30 August 2023 in the EBI Working Paper Series No. 151. It has already been discussed in detail in CEBS’s technical advice to the European Commission on options and national discretions of 2008: the principle of proportionality has been an important theme for the application of national discretions by Member States addressing banking supervision rules. With the Europeanisation of the rules for banks and other financial undertakings, but especially with the creation of the Single Rule Book, the wide scope that existed in the past for Member States but also for national competent authorities has been reduced. What now remains is still a significant number of options and discretions that can lead to discretionary decisions, with a series of applications of the principle in supervisory practice aimed primarily at creating tailor-made solutions to address domestic-specific circumstances. These tailor-made solutions are mainly found in cases where the objectives intended to be achieved by applying rules can also be realised in another, often less onerous, way. However, with the increasing centralisation of the supervision of entities in the financial sector, this room for discretion appears to be further restricted. There is an inherent urge to apply such national discretions restrictively in order not to put pressure on the intended harmonisation of the applicable legal framework, but above all to monitor and promote the level playing field in Europe. 📎 Read the entire paper here: https://lnkd.in/d7zVdzUU #workingpaper #banking #bankresolution #finance #eu #law