Inside FinTech blog

On 27 March 2025, the European Commission issued a press release stating that it was taking action against several EU Member States that have failed to notify the Commission of measures they have adopted to transpose EU Directives into their national laws.

On 24 March 2025, the European Commission adopted a draft Delegated Regulation supplementing the Regulation on digital operational resilience for the financial sector (DORA) with regard to regulatory technical standards specifying the elements that a financial entity has to determine and assess when subcontracting ICT services supporting critical or important functions.

Le 20 février 2025, le Bureau du surintendant des institutions financières (BSIF) a publié le Régime au regard des normes de fonds propres et de liquidité visant les expositions sur crypto actifs (banques) – Ligne directrice (la ligne directrice applicable aux banques) ainsi que le Régime au regard des normes de capital visant les expositions sur crypto actifs (assurance) – Ligne directrice (la ligne directrice applicable aux assureurs, et avec la ligne directrice applicable aux banques, les lignes directrices).

Increased regulatory burdens on asset management businesses have resulted in additional cost pressures. However, regulation has also required more pricing transparency, which has led to an increasingly competitive market, with investors demanding either ultra-low cost or increasingly bespoke investment solutions.

Key Takeaways:
• SEC halts enforcement actions against exchanges
• Second Circuit renders Section 12(a) decision in Risley
• New NFT class action suit filed

Individuals have the right to receive meaningful information about solely automated decisions with significant effects under the General Data Protection Regulation (GDPR). This includes decisions that will impact an individual’s finances or employment.

The EU AI Act’s prohibitions came into effect on 2 February 2025 and carry fines of 7% worldwide annual turnover for non-compliance. The prohibitions at Article 5 and accompanying recitals (particularly recitals 28-44) set out a complex set of provisions.

The Securities and Futures Commission’s (SFC) has on 19 February 2025 rolled out a new regulatory roadmap setting out its core guiding principles to continue Hong Kong’s development as a virtual assets (VA) hub.

On 20 February 2025, the following was published in the Official Journal of the EU (OJ).

On 18 February 2025, the European Supervisory Authorities (ESAs) issued a roadmap to the designation of critical ICT third-party service providers (CTPPs) under the Digital Operational Resilience Act (DORA).