Guideline

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Selling Investment Products and Handling Client Securities

HKMA guidance on the application of its regulatory standards

Hong Kong Monetary Authority guidance clarifies how its regulatory standards apply to: i) pre-trade disclosure; ii) assessment of customer's concentration risk; iii) "portfolio-based" suitability assessment for private banking customers; iv) alternative investment products; v) supervision of transactions with mismatch(es) or exception(s); vi) staff training; and vii) regular review of controls in relation to handling of client securities.

Publisher: National Regulators Release date: Feb 2017 Country: Hong Kong, China

Type: Guideline

Topics: Risk-based supervision, Consumer education and protection, Transparency and disclosure, Conduct

Sectors: Banking, Securities

Implementation of the Enforcement Review and the Green Report

FCA and PRA steps to upgrade their enforcement regime

UK Financial Conduct Authority and Prudential Regulation Authority explanation of changes they are making to their enforcement policies and processes. The changes were made in response to a Treasury report (Review of Enforcement Decision-Making at the Financial Services Regulators) and to the "Green Report", a report into the FSA's enforcement actions following the failure of HBOS.

Publisher: National Regulators Release date: Feb 2017 Country: United Kingdom

Type: Guideline

Topics: Early intervention and enforcement, Transparency and disclosure

Sectors: Banking, Insurance, Securities

Policy Recommendations to Address Structural Vulnerabilities from Asset Management Activities

FSB policy recommendations to address financial stability risks

Financial Stability Board policy recommendations to address structural vulnerabilities from asset management activities that could potentially present financial stability risk. Recommendations fall into four categories: i) liquidity mismatch between fund investment and redemption terms and conditions for fund units; ii) leverage within investment funds; iii) operational risks and challenges in transferring investment mandates in stressed conditions; and iv) securities lending activities of asset managers and funds.

Publisher: Global Standard-Setting Bodies Release date: Jan 2017

Type: Guideline

Topics: Systemic risk, Shadow banking

Sectors: Banking, Securities

Recommendations on the Equivalence of Confidentiality Regimes (January 2017)

EBA opinion on confidentiality regime of certain non-EU supervisory authorities

European Banking Authority updated assessment of the equivalence of confidentiality regimes of several non-EU supervisory authorities in the context of third-country supervisory authority participation in EU supervisory colleges. Adds assessments of: Australian Prudential Regulation Authority, Reserve Bank of Australia, Hong Kong Monetary Authority, Bank of Japan, Japan Financial Services Agency, and Central Bank of the Republic of Kosovo.

Publisher: Regional Standard-Setting Bodies Release date: Jan 2017

Type: Guideline

Parent: Capital Requirements Directive - CRD IV

Peer: Recommendations on the Equivalence of Confidentiality Regimes (April 2015), Recommendations on the Equivalence of Confidentiality Regimes (September 2015)

Topics: Cross-border cooperation, Transparency and disclosure

Sectors: Banking

HKMA Supervisory Policy: Margin and Risk Mitigation: Standards for Non-Centrally Cleared OTC Derivatives

HKMA implementation of BCBS and IOSCO standards

Hong Kong Monetary Authority Supervisory Policy Module sets out minimum standards for margin and other risk mitigation techniques for non-centrally cleared over-the-counter (OTC) derivatives transactions. Module: i) covers margin standards; ii) covers risk mitigation standards; and iii) outlines HKMA's supervisory approach to margin and other risk mitigation standards for non-centrally cleared derivatives transactions and expectations regarding governance arrangements. Implements the margin requirements for non-centrally cleared derivatives issued by the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) in 2013 and the risk mitigation standards for non-centrally cleared OTC derivatives issues by IOSCO in 2015.

Publisher: National Regulators Release date: Dec 2016 Country: Hong Kong, China

Type: Guideline

Parent: Risk Mitigation Standards for Non-Centrally Cleared OTC Derivatives

Peer: Margin Requirements for Non-Centrally Cleared Derivatives

Topics: Derivatives, Risk management, Corporate governance

Sectors: Banking

Joint Guidelines on the Prudential Assessment of Acquisitions and Increases of Qualifying Holdings in the Financial Sector

EBA, EIOPA and ESMA joint guidelines on the assessment of qualifying holdings in financial institutions in the EU

European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority revised joint guidelines on the prudential assessment of acquisitions and increases by legal and natural persons in qualifying holdings in financial institutions: i) provide further clarity on key concepts, including indirect holdings, persons acting in concert and decision to acquire; ii) ensure a consistent interpretation of time limits by clarifying when supervisory authorities should provide an acknowledgement of receipt of notification regarding acquisitions of a qualifying holding in a financial institution and iii) clarify matters relevant to assessment of an acquisition, such as financial soundness of the proposed acquirer and suspicions of money laundering or terrorist financing.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Guideline

Topics: Licensing, Money laundering and terrorist financing

Sectors: Banking, Insurance, Securities

Statement on Implementation of New Accounting Standards

IOSCO statement on new accounting standards applicable to securities issuers

International Organization of Securities Commissions statement regarding three new International Financial Reporting (IFRS) standards which are expected to significantly alter financial statements of many issuers globally. Highlights importance of implementation processes by issuers and their audit committees, and full, accurate and timely disclosures of possible impacts of adopting new standards. Also provides a series of matters for issuers, and well as their audit committees and auditors, to consider as issuers adopt the new standards and auditors perform related audit procedures.

Publisher: Global Standard-Setting Bodies Release date: Dec 2016

Type: Guideline

Topics: Accounting, actuarial and auditing , Transparency and disclosure

Sectors: Securities

Guidelines on Pillar 3 Disclosure Requirements

EBA guidelines to enable banks to comply with CRR provisions while implementing revised Basel Pillar 3 requirements

European Banking Authority final guidelines on regulatory disclosure requirements following update by the Basel Committee on Banking Supervision's Pillar III disclosure requirements. Guidelines enable institutions to comply with the EU Capital Requirements Regulation (CRR) provisions while implementing revised Basel Pillar 3 requirements. Applies to systemically important institutions.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Guideline

Parent: Capital Requirements Regulation - CRR

Topics: Systemically important financial institutions (SIFIs), Transparency and disclosure

Sectors: Banking

Recommendations of the Task Force on Climate-Related Financial Disclosures

FSB recommendations for helping businesses disclose climate-related financial risks within the context of their existing disclosure requirements

Financial Stability Board's Task Force on Climate-Related Financial Disclosures recommendations for effective disclosure of climate-related financial risks. Includes supporting information on climate-related risks and opportunities, scenario analysis, and issues that the Task Force considered in developing its recommendations.

Publisher: Global Standard-Setting Bodies Release date: Dec 2016

Type: Guideline

Topics: Climate change , Risk management, Transparency and disclosure

Sectors: Banking, Insurance, Pensions, Securities

Enhanced Competency Framework on Anti-Money Laundering and Counter-Terrorist Financing

HKMA professional competency standards for practitioners in charge of banks' AML/CFT

Hong Kong Monetary Authority enhanced competency framework to establish set of common and transparent competency standards for raising and maintaining professional competence of relevant practitioners in charge of anti-money laundering and counter-terrorist financing compliance function (AML/CFT practitioners). Sets out qualifications, certification and continuing education requirements.

Publisher: National Regulators Release date: Dec 2016 Country: Hong Kong, China

Type: Guideline

Peer: De-risking and Financial Inclusion

Topics: Money laundering and terrorist financing, Corporate governance

Sectors: Banking

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Resources

382 records

Selling Investment Products and Handling Client Securities

Implementation of the Enforcement Review and the Green Report

Policy Recommendations to Address Structural Vulnerabilities from Asset Management Activities

Recommendations on the Equivalence of Confidentiality Regimes (January 2017)

HKMA Supervisory Policy: Margin and Risk Mitigation: Standards for Non-Centrally Cleared OTC Derivatives

Joint Guidelines on the Prudential Assessment of Acquisitions and Increases of Qualifying Holdings in the Financial Sector

Statement on Implementation of New Accounting Standards

Guidelines on Pillar 3 Disclosure Requirements

Recommendations of the Task Force on Climate-Related Financial Disclosures

Enhanced Competency Framework on Anti-Money Laundering and Counter-Terrorist Financing

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