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Key regulations: other

IFRS 16
Scope: Global | Regulator: IASB | Industry: All | Topic: Leases | Date of publication: January, 2016
The objective of IFRS 16 on leases is to report information that faithfully represents lease transactions and provides a basis for users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. To meet that objective, a lessee should recognise assets and liabilities arising from a lease.
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IFRS 17
Scope: Global | Regulator: IASB | Industry: Insurance | Topic: Insurance contracts | Date of publication: June, 2017
The objective of IFRS 17 insurance contracts is to ensure that entities provide relevant information that reliably presents those contracts. In addition, for accounting purposes, it establishes principles relating to the recognition and measurement of groups of insurance contracts; recognition of the profit of insurance contracts during the period of coverage; separate presentation of insurance income, insurance service expense, and financial insurance expense or income.
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Guidelines on identification and management of step-in risk
Scope: Global | Regulator: BCBS | Industry: Banking | Topic: Step-in risk | Date of publication: October, 2017
Final Guidelines on the identification and measurement of step-in risk, which is defined as the risk that a bank decides to provide financial support to an unconsolidated entity that is facing stress, in the absence of (or in excess of) any contractual obligations to provide such support.
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SEPA – Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro
Scope: EU | Regulator: EP and Council | Industry: Banking | Topic: Payment services | Date of publication: March, 2012
Regulation that lays down rules for credit transfer and direct debit transactions denominated in euro within the Union where both the payer’s payment service provider and the payee’s payment service provider are located in the Union, or where the sole payment service provider (PSP) involved in the payment transaction is located in the Union.
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PSD2 – Directive (EU) 2015/2366 on payment services in the internal market
Scope: EU | Regulator: EP and Council | Industry: Banking | Topic: Payment services | Date of publication: December, 2015
Directive that establishes the rules in accordance with which Member States shall distinguish between the following categories of payment service provider: credit institutions, electronic money institutions, post office giro institutions, payment institutions, the ECB and national central banks and Member States or their regional or local authorities. It also establishes rules concerning the transparency of conditions and information requirements for payment services, and the respective rights and obligations of payment service users and payment service providers.
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GDPR – Regulation (EU) 2016/679 on the protection of natural person with regard to the processing of personal data on the free movement of such data
Scope: EU | Regulator: EP and Council | Industry: Various | Topic: Personal data protection | Date of publication: May, 2016
Regulation on the protection of natural persons with regard to the processing of personal data and on the free movement of such data. Among others,this regulation includes new rights for the natural persons (e.g. right to be forgotten), and a set of obligations for the controller and processor of personal data.
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Final Guidelines on remuneration policies and practices related to the sale and provision of retail banking products and services
Scope: EU | Regulator: EBA | Industry: Banking | Topic: Remuneration | Date of publication: September, 2016
Guidelines on remuneration of sales staff specifying requirements for the design and implementation of remuneration policies and practices, in relation to the offering or provision of banking products and services to consumers.
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Law 5/2015 for the promotion of business financing
Scope: Spain | Regulator: Cortes Generales | Industry: Banking | Topic: Funding | Date of publication: April, 2015
Law on promoting corporate funding, which includes a set of measures to make SMEs financing more accessible and flexible, and to move forward in the development of alternative mechanisms of financing. Further, it also covers aspects regarding crowdfunding, securitisations, etc.
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Legislative Royal Decree 4/2015, approving the recast of the Spanish Securities Market Act
Scope: Spain | Regulator: CNMV | Industry: Stock market | Topic: Stock market | Date of publication: October, 2015
Royal Legislative Decree 4/2015, which approves the recast of the Spanish Securities Market  Act aiming to clarify the law applicable to the securities market through the integration and consolidation of such law, including amendments to the Law 24/1988 on the Securities market.
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Organic Law 3/2018 on protection of personal data (LOPD)
Scope: Spain | Regulator: Government | Industry: Banking | Topic: Data protection | Date of publication: December, 2018
Ley Orgánica de Protección de Datos, which will repeal the current LOPD and will adapt the Spanish law to the EU General Data Protection Regulation (GDPR), introducing amendments and enhancements in the regulatory framework of this fundamental right.
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