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The Joint Board of Appeal of the European Supervisory Authorities (ESAs – European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) published today its decision in an appeal brought by four appellants, Andrus Kluge, Boris Belyaev, Radio Elektroniks OÜ and Timur Dyakov, against a decision of the European Banking Authority (EBA). The Board of Appeal decided it does not have any jurisdiction with respect to the party’s appeal to challenge a decision by the EBA not to commence an investigation.

The European Banking Authority (EBA) launched today a public consultation on draft Guidelines on implicit support for securitisation transactions. The objective of the Guidelines is to provide clarity on what constitutes arm’s length conditions and when a transaction is not structured to provide support for securitisations. The consultation runs until 20 April 2016.