Global Trustee and Fiduciary Services Bite-Sized Issue 2 2025

6 QUICK LINKS BENCHMARKS REGULATION CRYPTOASSETS DORA EMIR FSB MIFID II/MIFIR MMF SUSTAINABLE FINANCE/ESG T+1 ASIA EUROPE INTERNATIONAL LUXEMBOURG NETHERLANDS NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 2 | 2025 Notification of active account to European and national regulator – Institutions that meet the criteria for the active account under EMIR 3 must send a notification to the European Securities and Markets Authority as well as to the AFM or DNB. Banks, insurance companies and pension funds must send the notification to DNB. Other MiFID firms and non-financial institutions must send the notification to the AFM. The template that institutions can use for this is included as a link in the guidance. Guidelines on initial margin models, clearing and transparency – EMIR 3 requires counterparties to apply for authorization and validation of the model used for initial margin calculation. There are also guidelines for reporting on clearing outside the European Union and the provision of information by settlement platforms. More information about this is included in the guidance. Link to Guidance here FSB FSB Publishes its Work Programme for 2025 Published on 23 January 2025, the Financial Stability Board (FSB) says that its work programme for 2025 addresses challenges including digitalisation, climate change, and the consequences of shifts in the macroeconomic and interest rate environment. In line with its mission to promote international financial stability, the FSB says that its priorities for 2025 reflect challenges that are global in nature and affect the financial system as a whole, such as digitalisation and climate change. Work will continue in key areas such as non-bank financial intermediation and cross-border payments. The FSB says it will keep monitoring emerging financial vulnerabilities and continue its work to implement agreed reforms and evaluate their effects with a view to maintain the resilience of the global financial system. FSB’s priority areas of work for 2025 include: • Supporting global cooperation on financial stability; • Enhancing the resilience of non-bank financial intermediation (NBFI), while preserving its benefits; • Harnessing the benefits of digital innovation while containing its risks; • Implementing the systemically important financial institution (SIFI) framework; • Addressing financial risks from climate change; • Enhancing cross-border payments; • Completing resolution reforms; and • Monitoring and evaluating implementation of agreed reforms. Also included in the Work Programme for 2025, the FSB has an indicative timeline of key FSB publications for 2025. Finally, ahead of the G20 Leaders Summit in November 2025, the FSB says it will publish its comprehensive Annual Report on its work to promote global financial stability. Link toWork Programme for 2025 here