National Regulators

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Corporate Governance: Board Responsibilities

PRA supervisory statement identifies areas of governance that are of greatest importance

UK Prudential Regulation Authority supervisory practice statement sets out areas of governance that are most important to PRA and to which its will give most attention. Preferred outcome is an effective board that: i) establishes sustainable business model and clear strategy consistent with that model; ii) oversees clear and measureable statement of risk appetite against which major business options are actively assessed; and iii) meets its regulatory obligations, is open with regulators and creates culture that supports prudent management.

Publisher: National Regulators Release date: Jul 2018 Country: United Kingdom

Type: Supervisory Practice

Peer: Financial Management and Planning by Insurers

Topics: Corporate governance

Sectors: Banking, Insurance

Strengthening Individual Accountability in Banking

PRA sets out how firms and individuals should comply with its Senior Managers Regime

UK Prudential Regulation Authority supervisory statement sets out the PRA's expectations of how firms should comply with the regulatory framework of: i) the Senior Managers Regime (SMR); ii) the Certification Regime; iii) assessment of fitness and propriety; and iv) Conduct Rules.

Publisher: National Regulators Release date: Jul 2018 Country: United Kingdom

Type: Supervisory Practice

Topics: Supervisory framework, Corporate governance

Sectors: Banking, Securities

Strengthening Individual Accountability in Insurance

PRA supervisory statement sets out expectations of how firms should comply with its Senior Insurance Managers Regime

UK Prudential Regulation Authority supervisory statement sets out expectations of how firms should comply with the regulatory framework of the Senior Insurance Managers Regime (SIMR) including: i) compliance with the SIMR; ii) application of conduct standards and associated notifications; and iii) assessing fitness and propriety.

Publisher: National Regulators Release date: Jul 2018 Country: United Kingdom

Type: Supervisory Practice

Topics: Conduct, Corporate governance

Sectors: Insurance

Extending the Senior Managers & Certification Regime to FCA Firms

FCA consultation to extend the Senior Managers & Certification Regime to most regulated firms

UK Financial Conduct Authority policy statement reports on main issues arising from consultations to strengthen individual accountability in regulated firms by extending the Senior Managers & Certification Regime (SM&CR) to almost all regulated firms in order to reduce harm to consumers and increase accountability. Also incorporates near-final rules.

Publisher: National Regulators Release date: Jul 2018 Country: United Kingdom

Type: Consultative, discussion and issues paper

Parent: FCA's Senior Managers Regime

Topics: Supervisory framework, Corporate governance, Conduct

Sectors: Banking, Insurance, Pensions, Securities

Building the UK Financial Sector's Operational Resilience

BoE, PRA and FCA discussion paper on supervisory authorities' view on operational resilience

Bank of England, Prudential Regulation Authority and Financial Conduct Authority discussion paper focuses on the operational resilience of the financial system and the individual firms and financial market infrastructures (FMIs) within it. Paper seeks to commence a dialogue with the financial services industry on improving the operational resilience of firms and FMIs.

Publisher: National Regulators Release date: Jul 2018 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Operational risk, Financial market infrastructure, Cyber risk

Sectors: Banking, Insurance, Securities

Deadline for comments: Oct 2018

Browsing to Borrow: "Mom & Pop" Small Business Perspectives on Online Lenders

FRB report examines small business owners' perceptions of online lenders

US Federal Reserve Board and Federal Reserve Board of Cleveland report gauges small business owners' perceptions of online lenders and their understanding and interpretation of information online lenders use to describe their credit products. Key findings include: i) participants are already familiar with online lending; ii) participants prefer websites with detailed product information; and iii) participants found sample online products confusing.

Publisher: National Regulators Release date: Jun 2018 Country: United States

Type: Consultative, discussion and issues paper

Topics: Consumer education and protection, Financial inclusion, Transparency and disclosure

Sectors: Banking

Algorithmic Trading

PRA's final statement on firm's governance and risk management of algorithmic trading

UK Prudential Regulation Authority policy statement sets out expectations in respect of a firm's algorithmic trading activities with respect to: i) governance; ii) algorithm approval process (by the firm); iii) testing and deployment; iv) inventories and documentation; and v) risk management and other systems and controls functions.

Publisher: National Regulators Release date: Jun 2018 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Risk management, Corporate governance

Sectors: Banking, Securities

Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations

FRB rule to address risks associated with large credit exposures

US Federal Reserve Board addresses credit exposures of large banking organizations to a single counterparty. Rule increases in stringency based on the systemic importance of firms to which they apply.

Publisher: National Regulators Release date: Jun 2018 Country: United States

Type: Law, Regulation and Policy

Topics: Credit risk, Systemic risk, Systemically important financial institutions (SIFIs)

Sectors: Banking

The Bank of England's Policy on Valuation Capabilities to Support Resolvability

BoE statement of policy valuations to support resolvability

Bank of England consultation sets out policy for the capabilities firms should have in place to ensure that an inability to produce timely and robust resolution valuations does not impede resolvability. Policy addresses the data, systems, and processes that collectively support valuations of a firm's assets, liabilities and equity.

Publisher: National Regulators Release date: Jun 2018 Country: United Kingdom

Type: Law, Regulation and Policy

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

Sectors: Banking

Financial Management and Planning by Insurers

PRA policy statement on effective management and planning by insurance firms and groups

United Kingdom Prudential Regulation Authority policy statement sets out how the application of effective risk management and governance is linked to the need for insurers to maintain a sound financial condition going forward. Sets out the PRA's expectations on financial management and planning by insurers.

Publisher: National Regulators Release date: May 2018 Country: United Kingdom

Type: Supervisory Practice

Topics: Risk management, Corporate governance

Sectors: Insurance

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Resources

382 records

Corporate Governance: Board Responsibilities

Strengthening Individual Accountability in Banking

Strengthening Individual Accountability in Insurance

Extending the Senior Managers & Certification Regime to FCA Firms

Building the UK Financial Sector's Operational Resilience

Browsing to Borrow: "Mom & Pop" Small Business Perspectives on Online Lenders

Algorithmic Trading

Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations

The Bank of England's Policy on Valuation Capabilities to Support Resolvability

Financial Management and Planning by Insurers

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