EMEA Regulatory Pulse: Expected Impact and Complexity of Upcoming FSI Regulations
Description
Many regulators and FSIs around the world keep a close eye on the EU's regulatory agenda as it increasingly influences global standards, provides valuable lessons, and sets regulatory super trends in ESG, operational resilience, consumer/investor protection, and AI and data. This report gives a comprehensive overview of the most impactful regulations across those four areas about to hit banks, insurers, and capital markets across the EMEA region. "Europe's financial sector is reaching a critical inflection point where the excessive regulation is stifling innovation and organizations are falling behind their international peers in profitability and productivity. Slowly, this realization is sinking in with politicians and policymakers, and whether they have the will and perseverance to move beyond mere lip service when it comes to reducing bureaucracy remains to be seen." Tom Zink, Senior Research Director, IDC Financial Insights.
Table of Contents
50 Pages
Executive Snapshot
Situation Overview
AI and Data Regulations
The AI Act (EAA) - (EU) 2024/1689
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
The European Data Act (EDA) - (EU) 2023/2854
Regulation highlights
Regulation requirements in summary
Expected Impact on FSIs
Financial Data Access Regulation (FIDA) – (EU) 2023/0205
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Consolidated Review of Markets in Financial Instruments Directive II (MiFID II) and Markets in Financial Instruments Regulation (MiFIR) – (EU 2024/790, 2024/791)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Payments Services Directive 3 (PSD3) - (EU) 2023/0209 (COD)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Payment Services Regulation (PSR) – (EU) 2024/886
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Open Finance Framework (OFF) - (UAE)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Personal Data Protection Law (PDPL) - (KSA)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Open Banking Framework (KSA)
Regulation highlights
Implications for Financial Institutions
Expected impact on FSIs
Credit, Consumer/Investor Protection, and Other Regulations
Consumer Duty (UK PS22/9)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Digital Markets, Competition, and Consumers Act 2024 (DMCC) (U.K.)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Revised Consumer Credit Directive (CCD2.0) - (EU) 2023/2225
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Markets in Crypto-Assets Regulation (MiCAR) – (EU) 2023/1114
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Instant Payments Regulation (IPR) - (EU) 2024/886
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Alternative Investment Fund Managers Directive II (AIFMD II) - (EU) 2024/927
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Liquidity, Solvency, and ESG Regulations
Sustainable Finance Disclosure Regulation (SFDR) - (EU) 2019/2088
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Capital Requirements Regulation III (CRR3) - (EU) 2024/1623
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Capital Requirements Directive VI (CRD6) - 2021/0341(COD)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
EBA Guidelines on the Management of ESG Risks
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Fundamental Review of Trading Book (FRTB) – (EU/UK)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Solvency II Review - (EU) COM(2021) 581
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Insurance Recovery and Resolution Directive (IRRD) (EU 2025/1)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Sustainability Disclosure Requirement (SDR) (UK PS23/16)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
European Accessibility Act (EEA) – (EU 2019/882)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Principles for Sustainability-Related Disclosures (UAE)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Operational Resilience Regulations
Digital Operational Resilience Act (DORA) - (EU 2022/2554)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
European Digital Identity Regulation II (eIDAS 2.0) - (EU 2024/1183)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Network and Information Security Directive II (NIS 2) - (EU 2022/2555)
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Payment Services Regulation (PSR) – (EU) 2024/886
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
Directive on Operational Resilience (ZA) - D10-2021
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
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