Law, Regulation and Policy

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Enhanced Prudential Standards for Systemically Important Insurance Companies

FRB proposed standards for systemic insurers

US Federal Reserve Board proposed prudential standards that would be applicable to systemically important insurers, including corporate governance, risk management, and liquidity risk management standards.

Publisher: National Regulators Release date: Jun 2016 Country: United States

Type: Law, Regulation and Policy

Peer: Capital Requirements for Supervised Institutions Significantly Engaged in Insurance Activities

Topics: Systemically important financial institutions (SIFIs), Corporate governance, Risk management, Liquidity risk and rules

Sectors: Insurance

Deadline for comments: Aug 2016

Implementing Audit Committee Requirements Under the Revised Statutory Audit Directive

PRA policy statement provides feedback about recent consultative draft

UK Prudential Regulation Authority policy statement sets out final rules to implement audit committee requirements of Article 39 of EU Statutory Audit Directive for firms that are regulated by PRA. Clarifies policy intent for: i) PRA's approach to independence; ii) clarification of expectations regarding competence; iii) aspects of audit committee functions; and iv) how audit committee requirement will operate alongside Senior Managers Regime (SMR) and Senior Insurance Managers Regime (SIMR).

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

Type: Law, Regulation and Policy

Topics: Accounting, actuarial and auditing , Corporate governance

Sectors: Insurance

Markets in Financial Instruments Regulation - MiFID II

EU regulatory framework directly applicable in all EU member states

European Union regulatory framework directly applicable in all EU jurisdictions and not requiring transposition into national law.

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

Type: Law, Regulation and Policy

Peer: Markets in Financial Instruments Directive - MiFID II

Topics: Capital adequacy, Liquidity risk and rules, Corporate governance, Risk management, Transparency and disclosure, Systemically important financial institutions (SIFIs)

Sectors: Banking, Insurance, Pensions, Securities

Pension Reforms – New Rules and Guidance for the Pension and Retirement Income Markets

FCA policy statement on new rules to address risks and challenges faced by consumers in the pension and retirement income markets

Financial Conduct Authority policy statement summarizes responses to its consultation paper and publishes final rules and guidance on areas where it proposed changes to the FCA Handbook. New rules and guidance are designed to: i) promote competition; ii) ensure the market works well; and iii) protect consumers.

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

Type: Law, Regulation and Policy

Topics: Consumer education and protection, Transparency and disclosure

Sectors: Pensions

FCA Handbook Changes Relevant to Firms Operating Loan-based Crowdfunding Platforms

FCA policy statement on rules for regulated P2P platforms

UK Financial Conduct Authority policy statement on requirements for the treatment of client's money by firms that operate electronic systems enabling peer-to-peer (P2P) lending and related activities.

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

Type: Law, Regulation and Policy

Topics: Consumer education and protection, Financial inclusion, FinTech

Sectors: Banking

Banking (Special Resolution Regime) Act 2016

Bermuda law establishes a special resolution regime for banks

Bermuda law established comprehensive bank insolvency framework that meets international standards and operates independently of general insolvency law. Passed by Parliament but not yet in force.

Publisher: National Government Release date: Feb 2016 Country: Bermuda

Type: Law, Regulation and Policy

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

Sectors: Banking

Insurance Distribution Directive

EU directive sets out regulatory requirements for insurance and reinsurance intermediaries

European Union Directive harmonizing the rules for the distribution of insurance and reinsurance products. The recitals on pages 1 through 10 summarize the substance of the Directive. Seeks to: i) improve regulation of the retail insurance market and create more opportunities for cross-border business; ii) establish the conditions necessary for fair competition between distributors of insurance products; and iii) strengthen consumer protection in the distribution of insurance.

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

Type: Law, Regulation and Policy

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

Sectors: Insurance

Enhanced Competency Framework for Banking Practitioners

HKMA update on its efforts to develop professional standards

Hong Kong Monetary Authority update on its efforts and plans to develop professional standards and qualifications in banking. HKMA, in collaboration with banking industry and relevant professional bodes, will introduce industry-wide competency framework to support capacity building and talent development.

Publisher: National Regulators Release date: Dec 2015

Type: Law, Regulation and Policy

Peer: HKMA Supervisory Policy on Competence and Ethical Behaviour

Topics: Licensing, Corporate governance

Sectors: Banking

Power to Direct Institutions to Address Impediments to Resolvability

BOE response to consultation and statement of policy

Bank of England final policy for exercising its statutory power to direct institutions to address impediments to their resolvability under the EU Bank Recovery and Resolution Directive (BRRD). Addresses how BOE will identify and remedy impediments to resolution as part of resolution planning and otherwise.

Publisher: National Regulators Release date: Dec 2015 Country: United Kingdom

Type: Law, Regulation and Policy

Topics: Recovery and resolution

Sectors: Banking, Securities

Policy on UK Leverage Ratio Framework

PRA policy statement on rules for UK leverage ratio framework

UK Prudential Regulation Authority policy statement on UK leverage ratio framework. Framework addresses risk of excessive leverage for group of firms that are most systemically important in terms of size and critical services provided to UK economy, whose individual failure could cause adverse effects on stability of UK financial system.

Publisher: National Regulators Release date: Dec 2015 Country: United Kingdom

Type: Law, Regulation and Policy

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

Sectors: Banking

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Resources

382 records

Enhanced Prudential Standards for Systemically Important Insurance Companies

Implementing Audit Committee Requirements Under the Revised Statutory Audit Directive

Markets in Financial Instruments Regulation - MiFID II

Pension Reforms – New Rules and Guidance for the Pension and Retirement Income Markets

FCA Handbook Changes Relevant to Firms Operating Loan-based Crowdfunding Platforms

Banking (Special Resolution Regime) Act 2016

Insurance Distribution Directive

Enhanced Competency Framework for Banking Practitioners

Power to Direct Institutions to Address Impediments to Resolvability

Policy on UK Leverage Ratio Framework

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