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View All Comment Letters and Position Papers

Pending Comment Letters

Your comments are extremely important to us to provide the best response by WOCCU to these regulatory proposals.

Listed below are all pending regulatory actions for which WOCCU intends to submit a Comment Letter. The listed date is the date by which Comments are due to the respective agency.  All Comment Letters filed by WOCCU can be viewed on the Comments & Position Papers tab. Comments filed by the European Network of Credit Unions can be found here.

Please be sure to provide us with your comments in advance of the Due Date so that we may include them in our Comment Letter.


Agency Pending Comment Letters Due Date
IFRS General Requirements for Disclosure of Sustainability-related Financial Information July 29, 2022
IFRS Climate-related Disclosures July 29, 2022
Financial Stability Board Enhancing Cross-Border Payments: Stage 3 Roadmaps July 31, 2022
Financial Action Task Force Call for advice to the European Banking Authority (EBA) regarding the review of Directive 2014/17/EU1 (Mortgage Credit Directive) August 1, 2022
European Commission Payment Services - Review of EU Rules August 2, 2022
European Commission Open finance framework – enabling data sharing and third party access in the financial sector August 2, 2022
Basel Committee on Banking Supervision Prudential Treatment of Banks' Cryptoasset Exposures September 30, 2022
 

Recent News on our Competent Authorities

 

EU Reinforces Rules on Crypto Asset Transfers to Reduce the Use of Cryptocurrencies for Crime

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Council of the European Union

On June 29, 2022, the European Council Presidency and the European Parliament reached a provisional agreement and extended the of the scope of a proposal by way of  the "travel rule", which updates transfer of fund rules to include transfer of crypto assets. The rule aims to, “…ensure financial transparency on exchanges in crypto-assets and will provide the EU with a solid and proportional framework that complies with the most demanding international standards on the exchange of crypto-assets, in particular recommendations 15 and 16 of the Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog.”

The proposal hopes to hold service providers of crypto assets responsible for collecting and providing access to information pertaining to the originators and beneficiaries of those crypto asset transfers in an effort to expand “traceability” as a means to identify and block suspicious transactions, specifically related ML/TF risks. Under the agreement, the GDPR’s data protection rules will continue to apply to the transfer of crypto assets as well as existing sanctions that apply to all natural and legal persons. The provision must undergo confirmation by both the Council and the Parliament before it can be formally adopted.

More information on the provisional agreement is available here.



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