Many regulators and FSIs around the world keep a close eye on the EU's regulatory agenda as it increasingly influences global standards, provides valuable lessons, and sets regulatory super trends in ESG, operational resilience, consumer/investor protection, and AI and data. This report gives a comprehensive overview of the most impactful regulations across those four areas about to hit banks, insurers, and capital markets across the EMEA region. "Europe's financial sector is reaching a critical inflection point where the excessive regulation is stifling innovation and organizations are falling behind their international peers in profitability and productivity. Slowly, this realization is sinking in with politicians and policymakers, and whether they have the will and perseverance to move beyond mere lip service when it comes to reducing bureaucracy remains to be seen." Tom Zink, Senior Research Director, IDC Financial Insights.
Executive Snapshot
Situation Overview
AI and Data Regulations
The AI Act (EAA) - (EU) 2024/1689
Regulation highlights
Regulation requirements in summary
Expected impact on FSIs
The European Data Act (EDA) - (EU) 2023/2854
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Regulation requirements in summary
Expected Impact on FSIs
Financial Data Access Regulation (FIDA) – (EU) 2023/0205
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Regulation requirements in summary
Expected impact on FSIs
Consolidated Review of Markets in Financial Instruments Directive II (MiFID II) and Markets in Financial Instruments Regulation (MiFIR) – (EU 2024/790, 2024/791)
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Regulation requirements in summary
Expected impact on FSIs
Payments Services Directive 3 (PSD3) - (EU) 2023/0209 (COD)
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Regulation requirements in summary
Expected impact on FSIs
Payment Services Regulation (PSR) – (EU) 2024/886
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Regulation requirements in summary
Expected impact on FSIs
Open Finance Framework (OFF) - (UAE)
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Expected impact on FSIs
Personal Data Protection Law (PDPL) - (KSA)
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Expected impact on FSIs
Open Banking Framework (KSA)
Regulation highlights
Implications for Financial Institutions
Expected impact on FSIs
Credit, Consumer/Investor Protection, and Other Regulations
Consumer Duty (UK PS22/9)
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Regulation requirements in summary
Expected impact on FSIs
Digital Markets, Competition, and Consumers Act 2024 (DMCC) (U.K.)
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Regulation requirements in summary
Expected impact on FSIs
Revised Consumer Credit Directive (CCD2.0) - (EU) 2023/2225
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Regulation requirements in summary
Expected impact on FSIs
Markets in Crypto-Assets Regulation (MiCAR) – (EU) 2023/1114
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Regulation requirements in summary
Expected impact on FSIs
Instant Payments Regulation (IPR) - (EU) 2024/886
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Regulation requirements in summary
Expected impact on FSIs
Alternative Investment Fund Managers Directive II (AIFMD II) - (EU) 2024/927
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Regulation requirements in summary
Expected impact on FSIs
Liquidity, Solvency, and ESG Regulations
Sustainable Finance Disclosure Regulation (SFDR) - (EU) 2019/2088
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Regulation requirements in summary
Expected impact on FSIs
Capital Requirements Regulation III (CRR3) - (EU) 2024/1623
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Regulation requirements in summary
Expected impact on FSIs
Capital Requirements Directive VI (CRD6) - 2021/0341(COD)
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Regulation requirements in summary
Expected impact on FSIs
EBA Guidelines on the Management of ESG Risks
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Regulation requirements in summary
Expected impact on FSIs
Fundamental Review of Trading Book (FRTB) – (EU/UK)
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Regulation requirements in summary
Expected impact on FSIs
Solvency II Review - (EU) COM(2021) 581
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Expected impact on FSIs
Insurance Recovery and Resolution Directive (IRRD) (EU 2025/1)
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Expected impact on FSIs
Sustainability Disclosure Requirement (SDR) (UK PS23/16)
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Expected impact on FSIs
European Accessibility Act (EEA) – (EU 2019/882)
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Regulation requirements in summary
Expected impact on FSIs
Principles for Sustainability-Related Disclosures (UAE)
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Regulation requirements in summary
Expected impact on FSIs
Operational Resilience Regulations
Digital Operational Resilience Act (DORA) - (EU 2022/2554)
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Regulation requirements in summary
Expected impact on FSIs
European Digital Identity Regulation II (eIDAS 2.0) - (EU 2024/1183)
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Regulation requirements in summary
Expected impact on FSIs
Network and Information Security Directive II (NIS 2) - (EU 2022/2555)
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Regulation requirements in summary
Expected impact on FSIs
Payment Services Regulation (PSR) – (EU) 2024/886
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Regulation requirements in summary
Expected impact on FSIs
Directive on Operational Resilience (ZA) - D10-2021
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Regulation requirements in summary
Expected impact on FSIs
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