EBF comments on the Draft RBA Guidance for the Securities Sector
EBF advisor: Roger Kaiser
Publication date: 17 August 2018
The EBF welcomes the opportunity to provide comments on the FATF Public Consultation on the Draft Risk-Based Approach (RBA) Guidance for the Securities Sector. The EBF suggests that the Guidance distinguishes its standards per (i) type of service/ service provider, (ii) type of security and (iii) type of customer/ relationship. Regarding relationships similar to Correspondent Banking Relationship (CBR) in case of intermediaries, the EBF recommends FATF to highlight that not all CBRs pose the same level of risk. Therefore, securities providers should adjust the type and extent of Enhanced Due Diligence measures to account for the risk posed by the respondent.
We carried out a regulatory mapping exercise of crypto-assets that led to the conclusion that EU legislation would be needed in this area. We welcome the initial work done by central banks on assessing the merits of central bank digital currencies. #WEF20
The @EU_Commission intends to propose 🇪🇺 legislation later this year on a common approach to crypto-assets, including stablecoins. We need to act quickly. Already launched a public consultation on how these rules should look, everybody can contribute. It is open until 19 March‼️
It was a pleasure to share the stage with @blackrock CEO Larry Fink today! We had a great discussion about the role of the financial sector in tackling #inequality and #climate related risks. Watch it here: https://t.co/mHW5yMkLvx
The EBF is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
56 Avenue des Arts
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.