European Union

ESMA Opinion on European Salmon Futures Position Limits

The European Securities and Markets Authority (ESMA) has issued an opinion on position limits for the European Salmon Futures contract traded on Euronext. This opinion provides guidance on the appropriate limits to prevent market abuse and ensure orderly trading conditions.

EDPB-EDPS Joint Opinion on Digital Omnibus Legislative Proposal

The European Data Protection Board (EDPB) and the European Data Protection Supervisor (EDPS) have issued a joint opinion on the Digital Omnibus legislative proposal. This opinion provides their assessment and recommendations on the proposed legislation, which impacts data protection and privacy within the EU.

Belgian DPA Orders Diocese to Delete Baptized Person's Data

The Belgian Data Protection Authority (DPA) has ordered the diocese of Ghent to delete a baptized person's data from the baptismal register. The DPA ruled that the church's legitimate interest in retaining the data does not override the individual's right to erasure under GDPR when they expressly wish to leave the church.

CJEU Rules on IAB EUROPE Case, Belgian DPA Fine

The Court of Justice of the European Union (CJEU) ruled that a structured character string capturing user preferences is personal data and that IAB EUROPE can be considered a joint controller. This decision impacts the Belgian DPA's prior €250,000 fine against IAB EUROPE.

Market Court confirms €250,000 DPA fine in IAB Europe case

The Market Court has confirmed a €250,000 fine imposed by the Belgian Data Protection Authority on IAB Europe. While the original decision was annulled on procedural grounds, the court upheld the reasoning that IAB Europe acts as a joint data controller for user preferences within its Transparency and Consent Framework.

Market Court refers FATCA data transfer questions to CJEU

The Belgian Market Court has referred 13 preliminary questions to the Court of Justice of the European Union (CJEU) regarding the FATCA agreement and data transfers to the US. This action seeks clarification on the compatibility of the agreement with EU data protection laws, including GDPR and Directive 95/46/EC.

EIOPA Consults on Revised Solvency II Group Solvency Guidelines

The European Insurance and Occupational Pensions Authority (EIOPA) has launched consultations on revised Guidelines for group solvency calculations and supervisory reporting under Solvency II. The revisions aim to align with the amended Solvency II framework and simplify existing guidelines, proposing significant reductions in the number of individual guidelines.

EIOPA Updates Solvency II Volatility Adjustment Reference Portfolios

The European Insurance and Occupational Pensions Authority (EIOPA) has published updated reference portfolios for calculating the volatility adjustment to risk-free interest rates under Solvency II. These updated portfolios will be used for the VA calculation from the end of March 2026.

EIOPA Consults on EU Insurance Recovery and Resolution Framework

EIOPA has launched seven consultations on draft guidelines and technical standards for the implementation of the EU's Insurance Recovery and Resolution Directive (IRRD). These consultations cover pre-emptive recovery plans, simplified obligations, and the independence of valuers, with the IRRD set to become operational in January 2027.

EIOPA Consultation on Private Equity Firm Supervision Statement

EIOPA has launched a public consultation on a draft supervisory statement concerning the authorisation and ongoing supervision of insurance and reinsurance undertakings owned by private equity firms. The consultation seeks feedback on proposed supervisory expectations to address risks associated with these acquisitions and ensure consistent supervision across the EU.