In the most recent round of the Survey on the Access to Finance of Enterprises (SAFE), euro area firms reported a decrease in interest rates on bank loans (a net -4%, compared with a net 4% reporting an increase in the previous quarter), although a net 22% (30% in the previous quarter) observed increases in other financing costs (i.e. charges, fees and commissions) (Chart 1).In this survey round, firms reported a small decline in the availability of bank loans in the fourth quarter of 2024 (a net -2%, down from a net 1% reporting an increase in the previous quarter) (Chart 2). At the same time, firms indicated no change in the need for bank loans, compared with 2% reporting a decrease in the third quarter of 2024. Continue reading…

The Institute of Internal Auditors (The IIA) celebrated a significant milestone, the effective date of the new Global Internal Audit Standards™, first released in January of 2024 as part of the broader International Professional Practices Framework® (IPPF®) Evolution project. After having a year to begin implementing the new Standards, they became effective on January 9 of this year. The Standards provide a basis for assuring effective internal auditing. Since their initial release a year ago, the Standards have been translated into 25 languages and downloaded nearly 600,000 times. Designed to help elevate internal audit performance, quality and consistency across sectors, the Standards have been updated with a focus on internal audit strategy, stakeholder relationships, and internal audit performance measurement and accountability. Continue reading…

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, will be supporting the European Commission’s objective to simplify and reduce the reporting burden in the financial sector. The ESMA Board of Supervisors discussed in December 2024 how to best contribute to efficient simplification and burden reduction actions, while preserving the main objectives of financial stability, orderly markets and investor protection. Continue reading…

The Commission has adopted its 2025 work programme, outlining its ambition to boost competitiveness, enhance security, and bolster economic resilience in the EU. It builds on the commitments set out in the Political Guidelines and the mission letters sent by President von der Leyen. The work programme focuses on the flagship initiatives the Commission will take in the first year of its mandate, responding to the issues that matter most to Europeans. It reflects the need for more opportunities, innovation, and growth for our citizens and businesses, ultimately fostering a more secure and prosperous EU. The newly proposed initiatives are laid out in a dedicated annex together with the evaluations and fitness checks announced on 12 February. Continue reading…

Nearly 20,000 financial promotions were withdrawn or amended in 2024 following intervention from the FCA – nearly double the amount in 2023. The regulator has highlighted concerns with cryptoasset, debt solutions, and claims management company (CMC) promotions. 9,197 CMC promotions were withdrawn in 2024. Many of these promotions were related to housing disrepair and motor finance claims targeted at vulnerable consumers. Continue reading…

QUBE Events is excited to bring back the NextGen Payments & RegTech Forum series to Malta on 20 February 2025 at the Hilton Hotel in St. Julian’s – the vibrant hub for innovation and financial services! This prestigious forum offers valuable opportunities and powerful partnerships across all aspects of finance, from banking and insurance to asset management, fintech, compliance, and regulatory technology. Continue reading…

Cooperation with countries outside the European Union to fight impunity for war crimes, genocide and crimes against humanity will be bolstered by a dedicated new project launched today at Eurojust. This should lead to fewer ‘safe havens’ for perpetrators of such core international crimes. The collaboration with civil society organisations (CSOs) and coordination of their efforts can also be strengthened via this four-year National Authorities against Impunity Project (IMPNA). Continue reading…

The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 4 February to endorse the Committee’s work programme and strategic priorities for 2025-26. Continue reading…

Infinox Capital Limited (Infinox) has been fined £99,200 by the FCA for failing to submit 46,053 transaction reports which risked market abuse going undetected. To monitor, detect and disrupt market abuse effectively, the FCA needs to receive complete, accurate and timely transaction reports. Between 1 October 2022 and 31 March 2023, Infinox failed to submit transaction reports for single-stock contracts for difference (CFD) trades executed through one of its corporate brokerage accounts. Trades executed through this corporate brokerage account accounted for the majority of this business line.   Continue reading…

The European Banking Authority (EBA) has published a report on the short to medium term objectives of its interest rate risk in the banking book (IRRBB) Heatmap, including observations and recommendations to institutions and supervisors. The report addresses the main areas of scrutiny identified by the short to medium term objectives of the Heatmap following the EBA scrutiny on the IRRBB as published on January 2024. It also provides tools to support the assessment of IRRBB risks, without setting any new requirements or thresholds, so as to foster a common understanding of IRRBB risks. Continue reading…