Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

Retired Member 

FCA sets out its new regulatory approach to insurers

MartinWheatley, the Financial Conduct Authority's (FCA) Chief Executive, spoke at the ABI Biennial Conference. In his speech he discussed the FCA’s first hundred days and also looked at future trends. Among other things, he said that: the FCA is far more actively looking at market trends innovations, business plans, products and outcomes to su

20 August 2013

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ASIC implements reporting regime for OTC derivatives

The Australian Securities and Investments Commission (ASIC) has a new OTC derivatives reform webpage which contains full details of the regime. The new package of rules and guidance includes: the ASIC Derivative Transaction Rules (Reporting) 2013; FAQ material; the ASIC Derivative Trade Repository Rules 2013; and Regulatory Guide 249 Derivative

19 August 2013

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Australia strengthens financial requirements for...

Australia strengthens financial requirements for custodians The Australian Securities and Investments Commission (ASIC) has published an updated Regulatory Guide 166 "Licensing: Financial requirements" which strengthens the financial requirements for custodial and depository service providers. Under the changes custodians and asset ho...

16 August 2013

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US Federal Reserve Board - new final rule on Basel III...

US Federal Reserve Board - new final rule on Basel III capital requirements The Board of Governors of the Federal Reserve System has approved a final rule that revises the risk-based and leverage capital requirements for banks. The rule implements the Basel III regulatory capital reforms and certain changes required by the Dodd-Frank in the US. T...

16 August 2013

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BCBS consults on the treatment of derivative transactions..

BCBS consults on the treatment of derivative transactions under the capital adequacy framework The Basel Committee on Banking Supervision (BCBS) has published two consultative documents: The non-internal model method for capitalising counterparty credit risk exposures (BCBS254). This consultative paper aims to improve the methodology for assessin...

15 August 2013

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EBA consults on draft technical standards....

EBA consults on draft technical standards on closely correlated currencies and on appropriately diversified indices under the CRD The European Banking Authority (EBA) has published two consultation papers for implementing technical standards (ITS) to: identify a list of relevant closely correlated currencies for the purposes of calculating the cap...

14 August 2013

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Proposed Regulation on improving securities settlement

On 21 June 2013, the Council of the European Union published a progress report on the proposed Regulation on improving securities settlement and on central securities depositaries (CSDs). The report explains that, while there is a large measure of agreement on the proposal, a number of provisions are still subject to some reservations. These inc...

13 August 2013

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Singapore consults on regs for reporting of derivatives

The Monetary Authority of Singapore (MAS) has published a“Consultation Paper on the Draft Regulations Pursuant to the Securities and Futures Act for Reporting of Derivatives Contracts”. The consultation: introduces a new regulatory regime for trade repositories; extends the regulatory regime for clearing facilities to OTC derivatives; and mand...

12 August 2013

Retired Member 

Implementation of OTC derivative reporting regime in HK

The Financial Services and the Treasury Bureau (FSTB) has published a Bill to provide a regulatory framework for the over-the-counter (OTC) derivatives market in Hong Kong. The Bill details: mandatory reporting, clearing and trading obligations; the establishment and regulation of the infrastructure through which the mandatory obligations will be...

09 August 2013

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US and Japanese issues statement on FATCA

The US and Japanese authorities have issued a joint statement to facilitate the implementation of the Foreign Account Tax Compliance Act (FATCA). The statement is intended to clarify the details of the cooperation between the US and Japanese authorities as well as procedures to be taken by Japanese financial institutions regarding the implementat...

08 August 2013