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The Financial Services Insider | Issue 6

Grant Thornton’s "The Financial Services Insider" is a Quarterly Newsletter designed to help you navigate the constantly changing regulatory landscape within which your business operates.

"The Financial Services Insider" covers the main regulatory developments in the Financial Services sector, published by the EU and Greek competent authorities the previous quarter, in order to help you remain up-to-date with the most significant regulatory updates affecting your organization. 

The most important highlights of the 3rd quarter of 2021 

Passed mid-year 2021 and as we are approaching year end, 3rd quarter activities in almost all areas have been intensified and we note numerous evolutions at various topics.
Key highlights regarding major developments in the areas of AML, Capital Markets, Corporate Governance, ESG, Fintech, MIFID II and Risk Management, are presented below, while a more analytical depiction of the detailed regulatory actions (guidance - consultations, decisions, issuance of reports and analysis etc.) is included at the subsequent pages under relevant categories.
Last but not least, regarding Banking Supervision, this quarter the establishment of a new communication channel with ECB is noted. The ECB Banking Supervision Market Contact Group (BSMCG), where Grant Thornton Greece is proud to participate, serves as a senior-level forum to discuss issues relevant for banking supervision from a market perspective. The group, which had its first virtual meeting on July 7, 2021, discusses developments in the banking sector from a system-wide perspective, including structural and regulatory trends and the impact of ECB supervision. It thus gathers market intelligence and thereby contributes to the ECB’s analysis of the banking sector while offering a dedicated channel for communication with market stakeholders in the banking sector.