Insights

IFR and IFD: The proposed new SREP framework and its impact on the preparation of the ICARA

8th February at 16:30 hrs

In November 2021, ESMA and the EBA issued a consultation on the framework for the supervisory review and evaluation process (“SREP”) of investment firms which sets out the process and criteria for the assessment of the main SREP elements such as business model, governance arrangements and controls, risks to capital and capital adequacy as well as liquidity risk and liquidity adequacy.

This webinar will seek to go through some of the salient aspects of the proposed SREP framework as well as a number of aspects that should form part of the new Internal Capital Adequacy and Risk Assessment (“ICARA”) which investment firms are required to prepare, and which will replace the current RMICAAP.

Moderated by: Stephanie Farrugia (Senior Associate)

Participants: James Farrugia (Partner) and Paul Falzon (Senior Regulatory Advisor)

MiFID II ‘quick-fix’ update

17th February at 16:30 hrs

EU Directive 2021/338 has introduced several amendments to MiFID II which will come into effect on the 28 February 2022. The administrative burdens on investment firms arising from the implementation of the MiFID II framework and ongoing compliance have been the subject of discussion, raising doubts as to whether the relevant provisions added any value to the protection of individual investors. The amendments are not an overhaul of the framework, but rather a ‘quick-fix’ targeting certain information requirements and product governance rules, intended to alleviate some of the administrative burdens on investment firms particularly in light of the COVID-19 pandemic.

Join us as we discuss the key changes, their implementation in local regulation and how they will affect investment firms regulated by MiFID II.

Moderated by: Stephanie Farrugia (Senior Associate)

Participants: Nicholas Micallef (Senior Associate) and David Borg-Carbott (Senior Associate)