If you issue or service a dollar-referenced stablecoin that moves across the Atlantic, the open question has always been which regulator can ask your supervisor for what, and how fast. On 2 June 2026 the European Banking Authority and the New York State Department of Financial Services answered part of it by signing the EBA-NYDFS…
If your institution adhered to the SEPA Request-to-Pay scheme on an older rulebook and then left the change log unread, the SEPA Request-to-Pay Rulebook v4.0 is the version that quietly resets several of your operational assumptions. The functional flow looks the same. The participation mechanics do not. From the entry-into-force date, the way you register…
The most expensive scoping mistake a Luxembourg compliance team can make right now is assuming someone else will flag it for AMLA direct supervision. The Authority for Anti-Money Laundering and Countering the Financing of Terrorism picks its first set of directly supervised firms in 2027, and the data that feeds that decision is being collected…
A euro stablecoin looks like a payments product and behaves like one. The reporting file behind it does not. The moment an issuer puts a fiat-referenced token into circulation in the EU, it sits inside banking or e-money authorisation, and for many tokens it also picks up a quarterly supervisory return and a hard cap…
Miss a COREP remittance by one day and the CSSF will notice. Miss a CRS filing deadline and the ACD will notice even faster. Q2 is the quarter where annual filings, quarterly prudential reports, and ongoing transaction reporting obligations all converge on the same teams, often the same individuals, at the same time. The density…
If you are a Luxembourg Platform Operator required to register with the ACD and have not done so, the applicable registration deadline has been missed. Luxembourg exceptionally extended the filing deadline for the 2023 report to 19 February 2024. The 2024 report was due on 31 January 2025 and the 2025 report was due on…
Your COREP templates are filed on time. Your LCR and NSFR ratios are above the minimum. Your Pillar 3 disclosures are published. Then the CSSF sends a letter asking for your ICAAP/ILAAP documentation as part of the SREP cycle, and the room goes quiet. Because unlike the quantitative reports, ICAAP and ILAAP are not templates…
Your treasury team wants to call an AT1 instrument. The economics are clear, the replacement is lined up, and the board has signed off. But you cannot pick up the phone and announce the call tomorrow. You need MREL prior permission first. And if you miss the application deadline or submit incomplete documentation, you are…
A single lapsed LEI can cascade into hundreds of rejected EMIR reports overnight, and those trades then have to be reconstructed and resubmitted. That is the reality of EMIR reporting: the regulation itself is logical enough, but the operational details will find every gap in your process. EMIR reporting applies to every entity that enters…
Introduction MiCAR (Markets in Crypto-Assets Regulation) creates the first comprehensive regulatory framework requiring crypto-asset service providers to implement authorization, prudential reporting, transaction monitoring, and incident notification systems. The Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114) represents the first unified rulebook for crypto-asset activities across the entire European Union. For reporting teams and compliance practitioners, MiCAR…