2016

382 records

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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

Liquidity and Policy Analyses for Platform Trading of OTC Derivatives: A Perspective of Smaller Markets

MAS paper assessing when to mandate OTC derivatives be traded on a trading platform

Monetary Authority of Singapore staff paper analyzes criteria for assessing when it might be appropriate to mandate the trading of standardized over-the-counter derivatives ("OTCD") on trading platforms ("trading mandate") in the context of smaller OTCD markets. Examines benefits and challenges of a trading mandate and puts forward a two-stage assessment framework, comprising a trading infrastructure test and a product test. Tests seek to identify the appropriate conditions for implementation of a trading mandate, considering the associated risks of market fragmentation and regulatory arbitrage. Proposes a liquidity assessment methodology to identify products suitable for trading on platforms. Discusses publishing post-trade data from trade repositories as alternative measure to improve market transparency.

Publisher: National Regulators Release date: Dec 2016 Country: Singapore

Type: Consultative, discussion and issues paper

Peer: Implementing OTC Derivatives Market Reforms

Topics: Derivatives, Transparency and disclosure

Sectors: Securities

Market Intelligence Gathering at Central Banks

BIS discussion paper assesses central bank intelligence activities

Bank for International Settlements discussion paper seeks to increase understanding of market intelligence (MI) activities conducted by central banks. Demonstrates that MI gathering can be conducted via a number of different models dependent on the central bank, its remit, size and resources. Highlights importance of MI to central banks. Focuses on recent evolution of MI activity, both in terms of markets and institutions as well as in terms of the organizational models for the collection, synthesis and dissemination of MI. Describes what central banks do with the information they collect, including how it is recorded and distributed, as well as treatment of sensitive or confidential information.

Publisher: International Organizations Release date: Dec 2016

Type: Consultative, discussion and issues paper

Topics: Market risk, Transparency and disclosure, Conduct, Macroprudential

Sectors: Banking, Securities

Supervision of Lost Accounts and Unclaimed Pension Benefits

IOPS working paper sets out supervisory practices and implications for lost accounts and unclaimed pension benefits

International Organisation of Pension Supervisors working paper discusses supervisory practices for lost accounts and unclaimed pension benefits (including unaccounted pension assets). The significance of and response to this issue varies among jurisdictions. Differences in supervisory responses can be explained by a number of factors, including different system structures, which cover the extent to which administrators are responsible for managing this issue, differing expectations about member engagement, and the level of system maturity.

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

Type: Consultative, discussion and issues paper

Topics: Pension and retirement plans, Consumer education and protection

Sectors: Pensions

The Role of Supervision Related to Consumer Protection in Private Pension Systems

IOPS report identifies good practices in IOPS jurisdictions

International Organisation of Pension Supervisors report identifies good practices in IOPS jurisdictions directed at enhancing consumer protection in the private pension sector. Addresses: i) legal framework and supervisory mandate; ii) disclosure and transparency; iii) financial education and awareness; iv) responsible business conduct of pension services providers and their authorized agents; and v) complaints and redress.

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

Type: Consultative, discussion and issues paper

Topics: Pension and retirement plans, Consumer education and protection, Supervisory framework

Sectors: Pensions

Blockchain in Financial Services: Regulatory Landscape and Future Challenges for its Commercial Application

BBVA paper examines the current regulatory landscape regarding blockchain technologies and identifies the main challenges

Banco Bilbao Vizcaya Argentaria paper: i) review basic concepts of blockchain; ii) describes current state of blockchain regulation in relevant parts of the world; iii) describes blockchain as a potential tool for regulators; iv) identifies and analyzes main regulatory challenges; and v) looks at other technological and operational challenges associated with blockchain not directly related to regulation.

Publisher: Industry Groups Release date: Dec 2016

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Financial market infrastructure, FinTech

Sectors: Banking, Securities

Bank Resolution and Bail-in in the EU

WB case studies of bank resolution in the EU

World Bank case studies of bank resolution and bail-in pre- and post-BRRD (Bank Recovery and Resolution Directive) demonstrate how several European Union countries have resolved failing banks. Focus is on the application of bail-in, i.e. statutory private loss absorption outside liquidation. Most case studies also describe other measures used to deal with distressed financial institutions, including government guarantees, capital injections, liquidity support, and the creation of asset management vehicles.

Publisher: International Organizations Release date: Dec 2016

Type: Consultative, discussion and issues paper

Peer: Bank Recovery and Resolution Directive (BRRD)

Topics: Recovery and resolution

Sectors: Banking

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

Using Your Data to Drive Growth in Mobile Money Services

GSMA report sets out how mobile financial services providers can better target women

GSM Association report sets out approach to analyzing customer data with a gender lens to help mobile financial services providers to: i) measure the size of the gender gap in their customer base and the commercial benefit of closing it: i) identify priority customer segments where there are key opportunities for reducing the gender gap/growing the subscriber base; iii) understand at what stage of the mobile money customer journey they lose potential female customers; and iv) develop ideas on how to grow their customer base in order to develop strategies and actionable recommendations for how to better target women.

Publisher: Industry Groups Release date: Dec 2016

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Gender equality, Consumer education and protection

Sectors: Banking, Microfinance

Digital Finance Interoperability & Financial Inclusion

CGAP 20-country review assessing the state of interoperability in payment systems

Consultative Group to Assist the Poor study focuses on payments from and to small-value transactional accounts that are accessible to mass-market consumers. Identifies three broad types of interoperability: i) multilateral agreements among three or more providers; ii) bilateral agreements negotiated between two providers; and iii) third-party solutions that connect providers. Scan found that some form of interoperability is present in each market, but progress remains slow in increasing usage. Finds that six countries are pursuing a "market-wide" approach whereby a central plan covers a majority of payment services providers.

Publisher: International Organizations Release date: Dec 2016

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Financial market infrastructure

Sectors: Banking, Microfinance

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Resources

382 records

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

Liquidity and Policy Analyses for Platform Trading of OTC Derivatives: A Perspective of Smaller Markets

Market Intelligence Gathering at Central Banks

Supervision of Lost Accounts and Unclaimed Pension Benefits

The Role of Supervision Related to Consumer Protection in Private Pension Systems

Blockchain in Financial Services: Regulatory Landscape and Future Challenges for its Commercial Application

Bank Resolution and Bail-in in the EU

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

Using Your Data to Drive Growth in Mobile Money Services

Digital Finance Interoperability & Financial Inclusion

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