BDO Report Outlines Regulatory Shifts in Financial Services for Q2 2026

Accounting and advisory firm BDO has released its Financial Services Q2/2026 report, highlighting significant regulatory developments and trends within the financial industry. The report centers on "Sustainable Finance" and its implications for banks and corporations heading into the latter half of 2026.

The report notes that the German Federal Council passed the "Bankenrichtlinienumsetzungs- und Bürokratieentlastungsgesetz" (BRUBEG) in March 2026, with most provisions coming into effect in April 2026. This law transposes the EU's Capital Requirements Directive VI into national legislation, intensifying ESG risk management requirements. Additionally, the 9th amendment to the "Mindestanforderungen an das Risikomanagement (MaRisk)" (Minimum Requirements for Risk Management) is expected for consultation in the latter half of 2026, further strengthening national regulatory frameworks.

ESG disclosure requirements are also evolving. The European Banking Authority (EBA) published a draft of the revised Implementing Technical Standards (ITS) for Article 449a CRR on Pillar III ESG disclosures in 2025. The scope of ESG disclosure is expected to broaden from late 2026 or during 2027, although final standards are still pending. The EBA's consultation paper EBA/CP/2026/07, released in April 2026, signifies a further step towards integrating sustainability risks into banking supervision.

Carbon accounting, encompassing both Corporate Carbon Footprint (CCF) and Product Carbon Footprint (PCF), is becoming increasingly crucial for companies. BDO emphasizes its role as a foundation for decarbonization strategies, regulatory reporting, and sustainable product development. The firm has also partnered with PCAF to standardize the calculation of financed greenhouse gas emissions.

The report also addresses the proposed "Sustainable Finance Disclosure Regulation (SFDR) 2.0," which the European Commission published in November 2025. The reform aims to simplify the existing disclosure rules, perceived as complex and costly. Furthermore, the Corporate Sustainability Reporting Directive (CSRD) has officially entered into force following its publication in the EU Official Journal, granting member states 18 months for transposition. This will make reporting mandatory for companies with over 1,000 employees and revenues of €450 million.