2009

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FSB Principles for Sound Compensation Practices: Implementation Standards

FSB implementation standards to align compensation with prudent risk-taking

Financial Stability Board implementation standards set out detailed specific proposals on compensation governance, structure and disclosure to strengthen adherence to the FSB Principles for Sound Compensation Practices. Standards focus on areas in which especially rapid progress is needed, including: i) independent and effective board oversight of compensation policies and practices; ii) linkages of the total variable compensation pool to firm's overall performance and need to maintain sound capital base; iii) compensation structure and risk alignment, including deferral, vesting and clawback arrangements; iv) limitations on guaranteed bonuses; v) enhanced public disclosure and transparency of compensation; and vi) enhanced supervisory oversight of compensation, including corrective measures if necessary.

Publisher: Global Standard-Setting Bodies Release date: Sep 2009

Type: Implementation

Parent: FSB Principles for Sound Compensation Practices

Peer: Guidance on FSB Principles and Standards on Sound Compensation Practices

Topics: Corporate governance

Sectors: Banking, Insurance, Securities

Risk Based Supervision

Primer for insurance supervisors on risk based supervision

Guidance for the implementation of risk based supervision of insurer's governance and risk management. Issue 14 of World Bank's Primer Series on Insurance.

Publisher: International Organizations Release date: Aug 2009

Type: Guideline

Topics: Risk-based supervision, Risk management

Sectors: Insurance

Governance Practices at Financial Regulatory and Supervisory Agencies

Results of 2007 IMF survey of financial supervisory agencies in IMF member countries

International Monetary Fund review of governance practices of financial sector supervisors in IMF countries, including legal frameworks under which they operate. Examines governance structure, funding, and legal protection as well as practices related to agency decision making, transparency, and integrity. Highlights differences in practices across governance structures and types of supervisory activities. Analyzes whether governance of banking supervisors is influenced by their location, either in a central bank, as a stand-alone agency, or as part of a consolidated supervisory agency.

Publisher: International Organizations Release date: Jul 2009

Type: Consultative, discussion and issues paper

Topics: Corporate governance, Supervisory framework, Supervisory structures

Sectors: Banking

Trust Less, Verify More

WB note on financial supervision in the wake of the 2007-2008 financial crisis

Word Bank note advocates changes in financial supervision in response to causes of the financial crisis and regulatory proposals arising from it. Recommends supervisors adopt tougher and more challenging approach to firms they regulate, exercise more supervisory judgment, involve themselves in macroprudential oversight, and participate more actively in supervision of firms with cross-border activities.

Publisher: International Organizations Release date: Jul 2009

Type: Consultative, discussion and issues paper

Topics: Crisis management and contingency planning, Macroprudential, Recovery and resolution

Sectors: Banking

Issues Paper on Corporate Governance

IAIS and OECD joint issues paper on insurer corporate governance

Organisation for Economic Co-operation and Development and International Association of Insurance Supervisors paper on insurer corporate governance. Identifies issues relevant in determining whether an insurer's governance is sound and appropriate for the nature, scale and complexity of the business and its overall risk profile and in assessing whether it is being adequately implemented.

Publisher: International Organizations Release date: Jul 2009

Type: Consultative, discussion and issues paper

Topics: Corporate governance

Sectors: Insurance

Enhancements to the Basel II Framework

BCBS enhancements to Pillars 1, 2 and 3 of Basel II

Final Basel Committee on Banking Supervision enhancements to Basel II including: i) in Pillar 1 (minimum capital requirements), strengthening the treatment for certain securitizations, introducing higher risk weights for resecuritization exposures, and requiring that banks conduct more rigorous credit analyses of externally rated securitization exposures; ii) in Pillar 2 (supervisory review process), expanding guidance addressing weaknesses revealed in banks' risk management processes during the financial crisis; and iii) in Pillar 3 (market discipline), strengthening requirements relating to securitizations, off-balance sheet vehicles; resecuritization exposures; and other risks regarding securitization exposures.

Publisher: Global Standard-Setting Bodies Release date: Jun 2009

Type: Standard

Peer: A Sound Capital Planning Process: Fundamental Elements

Topics: Capital adequacy, Risk management, Corporate governance, Transparency and disclosure, Market risk, Securitization

Sectors: Banking

Is There a Need to Rethink the Supervisory Process?

WB discussion paper examining recent supervisory failings and recommending approaches to strengthen the effectiveness of supervision

World Bank paper discussing the reasons that regulation and supervision has proven ineffective in a number of countries, including a failure of supervisors to understand the business models of supervised institutions and the nature and extent of risk-taking that was occurring, and thus a failure to take appropriate remedial actions, such as forcing institutions to curb risky practices and increase capital requirements and loss provisions. Advocates a more proactive, interventionist supervisory approach with a strong on-site component, in order to understand the risks institutions are taking and to take appropriate actions when the risks are not properly managed.

Publisher: International Organizations Release date: Jun 2009

Type: Consultative, discussion and issues paper

Topics: Supervisory framework, Crisis management and contingency planning, Early intervention and enforcement

Sectors: Banking, Insurance, Securities

Systemic Importance of Consumer Protection

FRB speech about its role in consumer protection

US Federal Reserve Board governor speech about the importance of both the availability of credit and the ability of consumers to use such credit safely to increase their own well-being in transactions that contribute to economic growth. Consumer protection is necessary to restore investor confidence and promote a strong and stable economy. Stresses the importance of dialogue between the Federal Reserve Banks and the regions they serve

Publisher: National Regulators Release date: Jun 2009

Type: Others

Topics: Consumer education and protection

Sectors: Banking

Gender and Corruption

U4 baseline on research on gender and corruption

Anti-Corruption Research Centre study argues that corruption has a disproportionate impact on women, particularly those living in fragile states. Good practices to mitigate effects of corruption on women include improved female participation in oversight processes and accountability systems.

Publisher: Others Release date: Jun 2009

Type: Consultative, discussion and issues paper

Topics: Gender equality

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

Regulation of Short Selling

IOSCO high level guidelines for regulation of short selling

International Organization of Securities Commissions guidelines provide guidance to market authorities on assessing and developing their short selling regulation framework. Sets out four regulatory principles that short selling: i) should be subject to appropriate controls to reduce or minimize potential risks that could affect orderly and efficient functioning and stability of financial markets; ii) should be subject to a reporting regime that provides timely information to the market or to market authorities; iii) should be subject to an effective compliance and enforcement system; and iv) should allow appropriate exceptions for certain types of transaction for efficient market functioning and development.

Publisher: Global Standard-Setting Bodies Release date: Jun 2009

Type: Guideline

Topics: Transparency and disclosure, Market risk

Sectors: Securities

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Resources

382 records

FSB Principles for Sound Compensation Practices: Implementation Standards

Risk Based Supervision

Governance Practices at Financial Regulatory and Supervisory Agencies

Trust Less, Verify More

Issues Paper on Corporate Governance

Enhancements to the Basel II Framework

Is There a Need to Rethink the Supervisory Process?

Systemic Importance of Consumer Protection

Gender and Corruption

Regulation of Short Selling

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