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The European Supervisory Authorities have presented their work plans for 2023, which provide essential insight into their upcoming regulatory activities and focus areas in the financial sector.

An overview of the main contents of the supervisors' work programmes can be found in the January issue of Horizons.

  • Managing "critical" third parties

Financial services firms are increasingly dependent on third-party providers to support their operations. Therefore, there are specific requirements for ICT risk management, contingency management and dealing with IT service providers to minimise external, operational risks. The Digital Operational Resilience Act (DORA) fundamentally develops these requirements in many places. You can find out exactly how in the publication.

  • Alternative Asset Management

In order to offer both capital management companies and investors more flexibility and to increase the competitiveness of investment products, there are plans, among other things, to promote investments in long-term and illiquid assets. More on this in the current issue.

  • Adjustments to capital requirements according to Basel 4

Credit institutions must have adequate own funds. But capital requirements are becoming increasingly complex due to more risk-sensitive approaches as well as various buffer requirements. As banks prepare to draft their capital plans for the next three to five years, it is more important than ever that they have a comprehensive understanding of the implications of the new requirements.

  • MARisk: 7th amendment to the minimum requirements for risk management at banks

BaFin published the draft circular for a 7th MaRisk amendment on 26 September 2022. With requirements for the granting and monitoring of loans as well as the handling of sustainability risks, this includes two core concerns of European and German supervision. Read the exact details now.

Download the entire issue here.

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