Welcome to the first edition of Horizons from KPMG's EMA Financial Services Risk & Regulatory Insight Centre (RRIC).
In this edition, we focus on:
- The financial services regulatory horizon – just seven months away from the next European parliamentary elections and a new set of Commissioners, there remains a lot to be done. We look at what we believe are the priorities and drivers influencing the future shape of financial services regulation – Brexit, CMU, Operational Resilience, Banking Union to name a few.
- Risks and vulnerabilities in the EU financial system as three reports from EU institutions highlight the continuing monitoring of systemic risks.
- The risk-based global Insurance Capital Standard (ICS) – as the IAIS consults for the third time on the development of the ICS.
- Supervisory expectations on booking models, in particular, the ECB’s booking model expectation post-Brexit.
- The European Commission’s suggested roadmap to increase the effectiveness of supervisory interventions relating to anti-money laundering (AML) and countering the financing of terrorism (CFT).
If you would like to discuss any of the topics covered in more detail, please do not hesitate to get in touch with a member of the team below.