Welcome to the latest edition of Horizons from KPMG's EMA Financial Services Risk & Regulatory Insight Centre (RRIC) – your ‘go to’ read for insights on financial services regulation from the perspective of the EMA region.

In this issue, we feature the following articles:

• 2020 vision: what lies ahead…: A rapidly changing world is causing regulators to update their strategies to address, amongst other issues, digital innovation, operational resilience and sustainable finance.

• The EU agenda for 2020: The three European Supervisory Authorities have issued a number of reports and papers – in addition to their work programmes for 2020 – indicating increased activity and areas of focus. The overarching message is that they intend to make full use of their new responsibilities and powers.

• Emerging crypto asset regulation: BigTech firms’ role in financial services, cross-border payment systems and the challenges of regulating crypto-assets are all hot topics – with regulators setting out approaches at a global, regional and national level.

• Operational Resilience “a shift in mindset”: Strengthening of financial institutions’ operational resilience remains a key priority for regulators. A raft of new guidelines and consultations were published in 2019, broadening the scope of regulatory scrutiny and pointing to increased supervisory activity.

• ESG Regulation: the race has begun: Political, social and investor pressure has led to the introduction of a swathe of new European rules, to be implemented in stages over the next three years, with more to come.
   

Previous editions:

November 2019 (PDF 584KB)
July 2019 (PDF 2.9 MB)
May 2019 (PDF 504 KB)
January 2019 (PDF 1.1 MB)
October 2018 (PDF 705 KB)