The companies, products and regulatory developments shaping the broker industry.
A reconstruction of ESMA’s sending categories puts third-country involvement at 29.3% in 2025. Comparing the underlying annual reports also resolves a reversed year comparison in the latest text.
FINMA’s consultation runs until 27 November on revised guidance for direct information transmission to foreign recipients. The draft reflects a parliamentary amendment distinguishing supervisory disclosures from other purposes and a presumption of confidentiality safeguards.
Five authorities have set two practical workstreams for aligning supervision across borders, giving investment firms and payment providers a clearer view of the next cooperation priorities.