Guideline

382 records

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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

Guidelines for Effective Dialogue Between Supervisory Authorities and Auditors

EIOPA guidelines for interactions between supervisors and auditors of insurance firms

European Insurance and Occupational Pensions Authority guidelines set out supervisory approach toward regular dialogue between supervisors and auditors. Present relevant principles such as nature of information to be exchanged, frequency and timing as well as representatives involved in such dialogues between supervisors and auditors.

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

Type: Guideline

Topics: Accounting, actuarial and auditing , Supervisory framework

Sectors: Insurance

Fair Treatment of Long-Standing Customers in the Life Insurance Sector

FCA guidelines on treatment of "closed-book" customers

UK Financial Conduct Authority guidance sets out actions that life insurance firms should consider taking to treat their closed-book customers fairly. FCA expects: i) all customers to be kept informed about the products they are invested in; ii) firms to be proactive in identifying the drivers of overall product performance and ensure that customers are being treated fairly regarding investment performance, expense allocation and charges; and iii) customers should not face unreasonable barriers to exit or unfair charges if they stop paying premiums into the policy.

Publisher: National Regulators Release date: Dec 2016 Country: United Kingdom

Type: Guideline

Topics: Consumer education and protection, Transparency and disclosure, Corporate governance

Sectors: Insurance

Guidance to Supervisors on Setting Standards for Sales Incentives and Responsible Lending

FinCoNet guidance on the role incentives play in the sale of consumer credit products

International Financial Consumer Protection Organization guidance covers: i) appropriate oversight; ii) cross-selling; iii) consumer-focused culture; iv) general duties and specific responsibilities; v) oversight of different sales channel; vi) firms' product oversight and governance; vii) monitoring; viii) disclosure; and ix) promotional incentives to consumers. Also provides list of necessary pre-conditions of the overarching regulatory framework, if supervisory initiatives are to be effective in the field of sales incentives and responsible lending.

Publisher: Others Release date: Dec 2016

Type: Guideline

Peer: Impact of Sales Incentives on the Sale of Consumer Credit Products , Report on Responsible Lending

Topics: Conduct, Consumer education and protection, Corporate governance, Transparency and disclosure

Sectors: Banking, Insurance, Pensions, Securities

Anti-Money Laundering and Countering the Financing of Terrorism Risk Factor Guidelines

EBA, EIOPA and ESMA guidelines on risk factors that firms should consider when implementing a risk-based approach to AML/CFT compliance

European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority guidelines on implementing a risk-based approach to adherence to the EU directive on the Financial Action Task Force (FATF) international standard. Provides guidance on risk factors firms should consider when assessing money laundering and terrorist financing risk associated with a business relationship or occasional transaction, and how firms can adjust the extent of their customer due diligence measures in a manner commensurate to money laundering and terrorist financing risks. Provides guidance to supervisory authorities in assessing the adequacy of firms’ application of simplified and enhanced customer due diligence measures.

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

Type: Guideline

Peer: Guidelines on the Money Laundering and Terrorist Financing Risk

Topics: Money laundering and terrorist financing

Sectors: Banking, Insurance, Pensions, Securities

FinTech Regulatory Sandbox Guidelines

MAS guideline sets out purpose of sandbox and guidance on application process

Monetary Authority of Singapore guideline to develop regulatory "sandbox" to enable financial institutions to experiment with fintech solutions in an environment where any failures would be contained. Guidelines set out ways by which MAS might provide regulatory support to firms to encourage fintech experimentations.

Publisher: Others Release date: Nov 2016 Country: Singapore

Type: Guideline

Topics: Financial inclusion, FinTech

Sectors: Banking, Insurance, Pensions, Securities

Guidelines on Assessment of ICAAP and ILAAP under SREP

EBA guideline on common approach to internal capital adequacy assessment process and internal liquidity adequacy assessment process under the supervisory review and evaluation process

European Banking Authority guidelines on information to be collected for supervisory authorities to perform their assessments of internal capital adequacy assessment process (ICAAP) and internal liquidity adequacy assessment process (ILAAP) in accordance with EBA's guidelines for the supervisory review and evaluation process (SREP). Guidelines specify: i) general information about ICAAP and ILAAP frameworks, business model and strategy, as well as governance arrangements; ii) ICAAP-specific methodological, policy and operational information; iii) ILAAP-specific methodological, policy and operational information; and iv) management conclusions on ICAAP and ILAAP and quality assurance information.

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

Type: Guideline

Parent: Guidelines on Common Procedures and Methodologies for the Supervisory Review and Evaluation Process (SREP)

Peer: Guidelines on ICT Risk Assessment Under SREP, Revised Procedures and Methodologies for the Supervisory Review and Evaluation Process and Supervisory Stress Testing

Topics: Capital adequacy, Liquidity risk and rules

Sectors: Banking

Implicit Support for Securitisation Transactions

EBA guidelines on capital treatment of securitizations

European Banking Authority guidelines set out objective test for definition of arm's length conditions and for assessing when a securitization transaction is structured in a manner that does not provide implicit support. Originating institutions that fail to structure the transaction in a manner that does not involve implicit support must hold capital against the exposure as if it had not been securitized. Includes provisions to avoid a scenario whereby support is provided on behalf of originator by another entity.

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

Type: Guideline

Parent: Capital Requirements Regulation - CRR, Capital Requirements Directive - CRD IV

Topics: Securitization, Capital adequacy, Credit risk

Sectors: Banking

Disclosure Requirements for Defined Benefit Pension Plans

OSFI guideline on disclosure of information for defined benefit plans

Office of the Superintendent of Financial Institutions guideline regarding disclosure of information to a plan member, former member, an employee eligible to join the plan, and that person's spouse or common-law partner. Also provides guidance to assist plan administrators in providing adequate and appropriate information.

Publisher: National Regulators Release date: Oct 2016 Country: Canada

Type: Guideline

Peer: Disclosure Requirements for Defined Contribution Pension Plans

Topics: Transparency and disclosure, Pension and retirement plans

Sectors: Pensions

Correspondent Banking Services

FATF guideline on application of its standard in context of correspondent banking services and money transfer service providers

Financial Action Task Force guidance on application of its international standards in context of correspondent banking relationships and money or value transfer services (MVTS) providers rendering similar services by: i) supporting development of a common understanding of what a risk-based approach entails for banks engaged in correspondent banking activity and MVTS providers rendering similar services; ii) clarifying interplay between FATF standards on cross-border correspondent banking and MVTS providers acting as intermediaries, and FATF standards on customer due diligence and wire transfers, as well as on targeted financial sanctions; iii) highlighting extent to which correspondent institutions and MVTS providers offering similar services may gain a sufficient understanding of the customers of the respondent institutions and the associated risks; and iv) clarifying expectations for correspondent institutions when dealing with respondents whose customer bases include MVTS providers.

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

Type: Guideline

Topics: Financial inclusion

Sectors: Banking

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Resources

382 records

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

Guidelines for Effective Dialogue Between Supervisory Authorities and Auditors

Fair Treatment of Long-Standing Customers in the Life Insurance Sector

Guidance to Supervisors on Setting Standards for Sales Incentives and Responsible Lending

Anti-Money Laundering and Countering the Financing of Terrorism Risk Factor Guidelines

FinTech Regulatory Sandbox Guidelines

Guidelines on Assessment of ICAAP and ILAAP under SREP

Implicit Support for Securitisation Transactions

Disclosure Requirements for Defined Benefit Pension Plans

Correspondent Banking Services

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