Grand Compliance

Whether you're a bank, insurance company, investment company or a crypto company, Grand will help you get and stay compliant with Expert-curated content.

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On November 27-28, 2024, the European Commission published critical updates to the Markets in Crypto-Assets Regulation (MiCAR) in the Official Journal of the EU. These updates establish technical standards essential for MiCAR's implementation

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Governance, Risk, and Compliance (GRC) introduces a full framework that integrates governance, risk management, and compliance processes, enabling financial institutions to align with regulations like GDPR and Basel III.

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Is Compliance Automation the Possible Solution to Europe Over-Regulation?
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European Financial Regulation Express: Highlights from November 24, 2024
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EMIR 3 updates by ESMA enforce the Active Account Requirement (AAR) and stress testing to strengthen EU CCP reliance, mitigate risks, and enhance financial stability.
https://t.co/eH1llEV2AR

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Internal audit in the banking industry ensures financial integrity and compliance, addressing risks, fraud, and regulatory demands. Proactive measures like AI tools and strong governance enhance resilience and align banks with evolving regulations.
https://t.co/HAGdsZSg6j

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ESAs update the DORA Regulation, emphasizing CTPP designation, EUCLID reporting, and validation rules to boost financial resilience against ICT risks.
https://t.co/IHrYgFw4jr

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European Financial Regulation Express: Highlights from November 20, 2024
https://t.co/ymV7wJmWZZ

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European Financial Regulation Express: Highlights from November 20, 2024

Impact of EU Climate Action on Financial Stability

European regulators have concluded that the EU's 2030 target to reduce carbon emissions by 55% is expected to have a limited impact on the financial system, even though investors may shift towards low-emission companies.
The first stress test assessing climate change implications indicates that the transition to a greener economy will not jeopardize financial stability.
Initial losses are estimated at 3.9% of starting-point exposures, potentially rising to 6% with sudden asset price corrections and 8.7% when spillover effects are included.
Under compounded macroeconomic shocks, losses could reach 20.7%.
The test covered banks, insurers, pension funds, and investment funds, aiming to inform policymakers and regulators without imposing specific requirements on financial institutions.

EU Proposes Transition to T+1 Settlement Cycle

The European Securities and Markets Authority (ESMA) has recommended transitioning to a one-day trade settlement cycle (T+1) in the EU by October 2027.
This change is expected to alleviate the cost burden on the ETF industry caused by the mismatch between Europe’s T+2 settlement model and the US's T+1 model.
Currently, fund managers must settle assets on the next day while receiving payments a day later, increasing costs and operational challenges.
Aligning the EU's settlement cycle with the US and the UK's proposed accelerated timeline could harmonize global practices and improve market efficiency.

Bank of England's Post-Brexit Market Infrastructure Rules

The Bank of England (BoE) has launched a consultation on new rules for clearing houses, payment system operators, and other financial market infrastructures post-Brexit.
This marks the first use of BoE’s new regulatory powers over central counterparties and securities depositories since the UK left the EU.
The proposed rules will also apply to BoE-regulated UK payment systems and certain service providers.
Deputy Governor Sarah Breeden stated that the rules build on strong existing foundations and aim to provide clear expectations for supervised firms.
The consultation period will run until February 19, 2025.

Citadel Securities Expands into Eurozone Bond Trading

Citadel Securities plans to become a major player in Eurozone government bond trading by next year, having established a trading team in Paris and gained access to German debt auctions.
Already a significant player in the US Treasury market, Citadel views Europe as the next growth frontier.
Germany has added Citadel Securities to its list of entities authorized to buy its debt directly, indicating trust in its role.
Despite Europe’s fragmented and resistant market structure, Citadel aims to gradually increase its presence.
Executives emphasize the potential to deepen and integrate EU capital markets.
European policymakers are working on improving bond market transparency through initiatives like a consolidated tape, which is expected to benefit tech-driven firms like Citadel.

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AI enhances governance, risk, and compliance by automating processes, improving fraud detection, and supporting regulatory frameworks focused on transparency and accountability.
https://t.co/SKkAxKulW4

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ESMA launches a data collection initiative on AIFs and UCITS to improve cost transparency, ensure fair pricing, and strengthen investor protection in EU markets.
https://t.co/mRGWkvyW7P

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ESMA and EIOPA highlight benchmark misalignment and supervisory inefficiencies in the Retail Investment Strategy (RIS), urging standardized solutions to protect investors and unify EU markets.
https://t.co/cjIUJtsguM

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EU financial compliance reforms will apply in 2025, including Basel III, MiFIR, AMLA, MiCA, and CRR/CRD, will reshape regulations. Institutions must adapt to meet new standards and enhance resilience.
https://t.co/thnI0avl1R

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EBA updates the Capital Requirements Regulation (CRR) to enforce stricter diversification and risk management measures, enhancing financial resilience across the EU.
https://t.co/F7OXd1Z8fN

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EU’s 2025 Basel III bank regulations introduce key updates, including the output floor, ESG risk integration, and third-country branch supervision, focusing on enhancing banks' resilience, compliance, and alignment with global standards.
https://t.co/Adrs2g1K7V

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European regulations ensure stability, integrity, and protection, while GRC software automates compliance, adapts to changes, and manages risks.
https://t.co/1QDFxHlFcL

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The Digital Operational Resilience Act (DORA) Regulation November 2024 guidelines strengthen ICT risk management and compliance to enhance financial sector resilience and mitigate systemic vulnerabilities.
https://t.co/KJTbo3A3sX