Global Standard-Setting Bodies

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Good Practices for the Termination of Investment Funds

IOSCO good practices on the voluntary termination process for investment funds

International Organization of Securities Commissions good practices target broad range of investment funds, including collective investment schemes and other fund structures such as commodity, real estate and hedge funds. Report focuses on 14 sound practices addressing: i) disclosure at time of investment; ii) decision to terminate; iii) decision to merge; iv) during termination process; and v) specific types of investment funds.

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

Type: Sound Practice

Topics: Corporate governance, Transparency and disclosure, Conduct

Sectors: Securities

2017 Update of List of Global Systemically Important Banks (G-SIBs)

FSB annual update of banks designated as G-SIBs

Financial Stability Board annual update to the list of G-SIBs. G-SIBs are subject to higher capital buffer requirements, Total Loss-Absorbing Capacity (TLAC) requirements, resolvability requirements, and higher supervisory expectations.

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

Type: Implementation

Parent: Policy Measures to Address Systemically Important Financial Institutions, Global Systemically Important Banks: Updated Assessment Methodology and the Higher Loss Absorbency Requirement

Topics: Systemically important financial institutions (SIFIs), Capital adequacy, Recovery and resolution

Sectors: Banking

Implementation of G20/FSB Recommendations Related to Securities Markets

IOSCO 2017 survey of implementation of the G20/FSB post-crisis recommendations aimed at strengthening securities markets

International Organization of Securities Commissions report on results of survey of jurisdictions' implementation of G20/Financial Stability Board recommendations related to securities markets. Addresses: i) hedge funds; ii) structured products and securitization; iii) oversight of credit rating agencies; iv) measures to safeguard the integrity and efficiency of markets; and v) commodity derivative markets.

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

Type: Implementation

Peer: Implementation of Principal G20 Financial Regulatory Reforms , Implementation of G20/FSB Financial Reforms in Other Areas

Topics: Transparency and disclosure, Derivatives, Securitization, Shadow banking

Sectors: Securities

Implementation of G20/FSB Financial Reforms in Other Areas

FSB 2017 survey of implementation of the G20/FSB post-crisis recommendations

Financial Stability Board summary of status of implementation of G20/FSB recommendations covered by 2017 FSB Implementation Monitoring Network survey on the following areas: i) hedge funds; ii) securitization; iii) enhancing supervision; iv) building and implementing macroprudential frameworks and tools; v) improving oversight of credit rating agencies; vi) enhancing and aligning accounting standards; vii) enhancing risk management; viii) strengthening deposit insurance; ix) safeguarding integrity and efficiency of financial markets; and x) enhancing financial consumer protection.

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

Type: Implementation

Peer: Implementation of G20/FSB Recommendations Related to Securities Markets , Implementation of Principal G20 Financial Regulatory Reforms

Topics: Securitization, Macroprudential, Accounting, actuarial and auditing , Deposit insurance, Consumer education and protection, Shadow banking

Sectors: Banking, Securities

Insurance Core Principles 8, 15 and 16

IAIS consultation on proposed revisions to the ICPs and integration of ComFrame-related materials into the ICPs

International Association of Insurance Supervisors consultation sets out proposed revisions to Insurance Core Principles (ICPs), addressing characteristics of supervisory agencies: ICP 8 (Risk Management and Internal Controls), ICP 15 (Investments), and ICP 16 (Enterprise Risk Management for Solvency Purposes). Proposes to integrate elements of the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame), which sets out standards and guidance specific to the supervision of internationally active insurance groups, into relevant ICPs.

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

Type: Consultative, discussion and issues paper

Topics: Capital adequacy, Conduct, Systemically important financial institutions (SIFIs), Risk management

Sectors: Insurance

Deadline for comments: Jan 2018

Implementation of Insurance Capital Standard Version 2.0

IAIS consultation sets out details of implementation of ICS version 2.0

International Association of Insurance Supervisors implementation of Insurance Capital Standards (ICS) version 2.0 will be conducted in two phases: i) monitoring period; and ii) implementation of ICS as a group-wide Prescribed Capital Requirement (PCR). Implementation will have two components: i) mandatory confidential reporting by all Internationally Active Insurance Groups (IAIGs) of a reference based ICS based on market adjusted valuation (MAV), the standard method for capital requirements and converged criteria for qualifying capital resources; and ii) additional reporting, at the option of the group-wide supervisor, of ICS based on Generally Accepted Accounting Principles (GAAP) Plus valuation and/or an internal model-based capital requirement calculation.

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

Type: Consultative, discussion and issues paper

Parent: Risk-Based Global Insurance Capital Standard

Peer: Risk-based Global Insurance Capital Standard Version 2.0, Insurance Capital Standard Version 1.0 for Extended Field Testing

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

Sectors: Insurance

Artificial Intelligence and Machine Learning in Financial Services

FSB report examines market developments and their financial stability implications

Financial Stability Board report considers the financial stability implications of the growing use of artificial intelligence (AI) and machine learning in financial services. Identifies potential benefits and risks for financial stability that should be monitored, including: i) application of AI and machine learning by regulators and supervisors can help improve regulatory compliance and increase supervisory effectiveness; ii) applications of AI and machine learning could result in new and unexpected forms of interconnectedness between financial markets and institutions; iii) network effects and scalability of new technologies may give rise to third-party dependencies; iv) lack of interpretability or auditability of AI and machine learning methods could become a macro-level risk; and v) adequate testing and "training" of tools with unbiased data and feedback mechanisms is important to ensure applications do what they are intended to do.

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

Type: Consultative, discussion and issues paper

Topics: FinTech, Operational risk, Cyber risk, Conduct

Sectors: Banking, Securities, Insurance

Cybersecurity Regulations, Guidance and Supervisory Practices

Conclusions from a stocktake of regulations and supervisory practices with respect to cybersecurity in the financial sector

Financial Stability Board stocktake of existing publicly available regulations and supervisory practices with respect to cybersecurity, as well as of existing international guidance. Includes information about: i) jurisdictions' self-reported regulations, guidance and supervisory practices; ii) future plans; and iii) views regarding effective regulatory and supervisory practices. Also contains information regarding international bodies' self-reported guidance, other publications and future plans .

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

Type: Consultative, discussion and issues paper

Topics: Cyber risk

Sectors: Banking, Insurance, Pensions, Securities

Identification and Management of Step-in Risk

BCBS guidelines on banks' potential support to unconsolidated entities to which they are connected

Basel Committee on Banking Supervision standards to identify, assess and address so-called "step-in risk" potentially embedded in banks' relationships with unconsolidated entities they have created or sponsored, such as securitization conduits, structured investment vehicles and money market funds. Provides a detailed identification method for step-in risk where a bank might provide financial support in order to protect itself from adverse reputational risk stemming from its connections to the entities. Also sets out the appropriate supervisory responses to step-in risk.

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

Type: Guideline

Topics: Shadow banking, Risk management, Securitization

Sectors: Banking

Regulation and Supervision of Mutuals, Cooperatives and Community-Based Organisations in Increasing Access to Insurance

IAIS guideline on applying Insurance Core principles to MCCOs while enhancing access to insurance

International Association of Insurance Supervisors guidance on applying insurance Core Principles (ICPs) in ways that contribute to proportionate regulation and supervision. Focuses on role of mutual, cooperatives and community-based organizations (MCCOs) in increasing access to insurance, particularly among disadvantaged people.

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

Type: Guideline

Topics: Financial inclusion, Corporate governance, Capital adequacy, Licensing

Sectors: Insurance, Microinsurance

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Resources

382 records

Good Practices for the Termination of Investment Funds

2017 Update of List of Global Systemically Important Banks (G-SIBs)

Implementation of G20/FSB Recommendations Related to Securities Markets

Implementation of G20/FSB Financial Reforms in Other Areas

Insurance Core Principles 8, 15 and 16

Implementation of Insurance Capital Standard Version 2.0

Artificial Intelligence and Machine Learning in Financial Services

Cybersecurity Regulations, Guidance and Supervisory Practices

Identification and Management of Step-in Risk

Regulation and Supervision of Mutuals, Cooperatives and Community-Based Organisations in Increasing Access to Insurance

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