Financial services litigation—international Q&A guides

The Lexology Lexology Panoramic guides provide up-to-date, trusted and reliable information on key topics of law and regulation in various jurisdictions, based on contributions from thousands of leading practitioners around the world.

International comparator tool

The International

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Ireland - Banking & Financial Services News

ART—EPC launches VOP testing platform

The European Payments Council (EPC) has opened its API Reference Toolbox (ART) test and self-certification platform after completing a successful pilot phase. The platform supports the Verification of Payee (VOP) scheme, which allows payment service providers (PSPs) to offer an IBAN-name check service from October 2025 in accordance with the Instant Payment Regulation. Routing and/or verification mechanisms (RVMs) are required to complete a self-certification process on the ART platform to demonstrate compliance with the VOP API specifications. From mid-June 2025, PSPs not operating through an RVM will also have the opportunity to test and certify their VOP API implementation on a voluntary basis.

CRR3—EBA consults on amended disclosure requirements for ESG risks, equity exposures, and aggregate exposure to shadow banking entities

The European Banking Authority (EBA) has launched a consultation on proposed amended disclosure requirements as part of the updated Pillar 3 framework under Regulation (EU) 2024/1623 of the European Parliament and of the Council amending Regulation (EU) No 575/2013 (CRR3). The consultation addresses environmental, social, and governance (ESG) risks, equity exposures, and aggregate exposure to shadow banking entities. Responses to the consultation are sought by 22 August 2025, and a public hearing is scheduled for 26 June 2025, with registration closing on 24 June 2025.

CRR3—EBA publishes onboarding plan for Pillar 3 data hub implementation

The European Banking Authority (EBA) has published an onboarding plan to implement the Pillar 3 Data Hub, a centralised platform for public disclosures under Regulation (EU) 2024/1623 of the European Parliament and of the Council amending Regulation (EU) 575/2013 (CRR3). The plan outlines the steps for large and other institutions to access and submit their Pillar 3 information using the European Centralised Infrastructure of Data (EUCLID) regulatory reporting platform. The phased approach allows institutions to update their internal processes while continuing their disclosure requirements throughout 2025, with final submissions scheduled for a later stage. Public access to the disclosed information through the Pillar 3 Data Hub is scheduled to commence in December 2025.

Economic and Monetary Affairs Committee approves amendment to the CSDR—shortening the settlement cycle for transferable securities

The European Parliament’s Economic and Monetary Affairs Committee has approved an amendment to the Central Securities Depository Regulation (Regulation (EU) 909/2014) (CSDR) that shortens the settlement cycle for securities transactions on trading venues from two business days (T+2) to one business day (T+1). The Committee, which recorded 48 votes in favour and 4 abstentions, noted that the change would reduce risks and improve liquidity, while bringing EU practices into line with global standards. The amendment also allows for same-day settlements (T+0) when possible and exempts certain complex transactions from the T+1 rule. Furthermore, the European Securities and Markets Authority has been tasked with monitoring the transition and assessing the potential for future further shortening of the settlement cycle. These changes are set to take effect from 11 October 2027, subject to final negotiations with the Council.

View Ireland - Banking & Financial Services by content type :

News