2016

382 records

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Competency Requirements for Representatives Conducting Regulated Securities, Futures and Advisory Activities

MAS consultation on enhancements to entry, examination and continuing education requirements for financial advisors and capital markets intermediaries when dealing with customers

Monetary Authority of Singapore consultation on proposed strengthening of requirements for appointed representatives to pass relevant modules under the Capital Markets and Financial Advisory Services Examination (CMFAS) and undertake Continuing Professional Development training to ensure they keep abreast of evolving regulatory and market developments. Among the proposals are to introduce ethics and skills contents into the CMFAS rules and regulations curriculum, and to customize the contents of rules, ethics and skills curriculum to representatives' job requirements.

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

Type: Consultative, discussion and issues paper

Topics: Consumer education and protection, Corporate governance, Conduct

Sectors: Securities

Deadline for comments: Jan 2017

Harnessing Technology to Narrow the Insurance Protection Gap

Geneva Association report on use of technology to narrow global protection gaps

Geneva Association report discusses potential contribution of digital and mobile technologies to narrowing protection gaps in both mature and developing markets. Report is structured in four parts: i) current size, nature and root causes of protection gaps in property and health insurance; ii) new technologies from perspective of traditional business model of insurance, with focus on virtualization of insurance value chain and scope for more cost-efficient, attractive and relevant insurance products, as well as greatly improved levels of customer centricity; iii) regulatory responses to rise of digital insurance; and iv) case studies to illustrate potential of digital technology, focusing on emerging markets and their susceptibility to technological change

Publisher: Industry Groups Release date: Dec 2016

Type: Consultative, discussion and issues paper

Topics: Financial inclusion

Sectors: Insurance

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

Macroprudential Policy Issues Arising from Low Interest Rates

ESMA report discusses sources, implications and potential risks for the EU financial system deriving from the current low interest rate environment

European Securities and Markets Authority report analyzes two possible scenarios for future interest rate trends over the next ten years: a protracted low interest rate environment accompanied by low growth ("low for long") and an economic recovery scenario under which interest rates rise gradually ("back to normal"). Proposes a holistic macroprudential policy approach aimed at enhancing financial stability and mitigating systemic risks in the low interest rate environment.

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

Type: Consultative, discussion and issues paper

Topics: Macroprudential, Interest rate risk, Systemic risk

Sectors: Securities

HKMA Supervisory Policy - Systems and Controls for Liquidity Risk Management

HKMA policy on sound liquidity risk management by banks

Hong Kong Monetary Authority policy sets out an overview of what HKMA considers to be the major elements of a sound liquidity risk management framework and describes the manner in which the HKMA will apply its risk management standards.

Publisher: National Regulators Release date: Nov 2016 Country: Hong Kong, China

Type: Law, Regulation and Policy

Topics: Liquidity risk and rules, Risk management, Corporate governance, Stress-testing, Crisis management and contingency planning

Sectors: Banking

Anti-Money Laundering and Countering the Financing of Terrorism Risk Factor Guidelines

EBA, EIOPA and ESMA guidelines on risk factors that firms should consider when implementing a risk-based approach to AML/CFT compliance

European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority guidelines on implementing a risk-based approach to adherence to the EU directive on the Financial Action Task Force (FATF) international standard. Provides guidance on risk factors firms should consider when assessing money laundering and terrorist financing risk associated with a business relationship or occasional transaction, and how firms can adjust the extent of their customer due diligence measures in a manner commensurate to money laundering and terrorist financing risks. Provides guidance to supervisory authorities in assessing the adequacy of firms’ application of simplified and enhanced customer due diligence measures.

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

Type: Guideline

Peer: Guidelines on the Money Laundering and Terrorist Financing Risk

Topics: Money laundering and terrorist financing

Sectors: Banking, Insurance, Pensions, Securities

FinTech Regulatory Sandbox Guidelines

MAS guideline sets out purpose of sandbox and guidance on application process

Monetary Authority of Singapore guideline to develop regulatory "sandbox" to enable financial institutions to experiment with fintech solutions in an environment where any failures would be contained. Guidelines set out ways by which MAS might provide regulatory support to firms to encourage fintech experimentations.

Publisher: Others Release date: Nov 2016 Country: Singapore

Type: Guideline

Topics: Financial inclusion, FinTech

Sectors: Banking, Insurance, Pensions, Securities

Recordkeeping for Timely Deposit Insurance Determination

FDIC rule to ensure prompt payment of insured deposits when banks fail

US Federal Deposit Insurance Corporation final rule to facilitate prompt payment of insured deposits when large banks fail. Requires each insured bank that has two million or more deposit accounts to: i) configure its information technology system to be capable of calculating the insured and uninsured amounts in each deposit account, which would be used by the FDIC to make deposit insurance determinations in the event of failure; and ii) maintain complete and accurate information needed by the FDIC to determine deposit insurance coverage with respect to each deposit account.

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

Type: Law, Regulation and Policy

Topics: Deposit insurance, Recovery and resolution

Sectors: Banking

EBA Impact Assessment of Adoption of IFRS 9

EBA initial assessment on qualitative and quantitative impact of adoption of IFRS 9

European Banking Authority report of first impact assessment of forthcoming adoption of International Financial Reporting Standard 9 (Financial Instruments) (IFRS 9), including estimated impact on regulatory own funds and interaction with other prudential requirements.

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

Type: Consultative, discussion and issues paper

Peer: Credit Risk Management Practices and Accounting for Expected Credit Losses , Issues for Consideration in Implementing IFRS 9

Topics: Accounting, actuarial and auditing , Transparency and disclosure

Sectors: Banking

Issues for Consideration in Implementing IFRS 9

ESMA statement on the implementation of IFRS 9

European Securities and Markets Authority statement highlights the need for consistent, high-quality implementation of International Financial Reporting Standard 9 (Financial Instruments) (IFRS 9) and for transparency on its impact to users of financial statements.

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

Type: Consultative, discussion and issues paper

Peer: EBA Impact Assessment of Adoption of IFRS 9

Topics: Accounting, actuarial and auditing , Transparency and disclosure

Sectors: Securities

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Resources

382 records

Competency Requirements for Representatives Conducting Regulated Securities, Futures and Advisory Activities

Harnessing Technology to Narrow the Insurance Protection Gap

Bank Resolution and Bail-in in the EU

Macroprudential Policy Issues Arising from Low Interest Rates

HKMA Supervisory Policy - Systems and Controls for Liquidity Risk Management

Anti-Money Laundering and Countering the Financing of Terrorism Risk Factor Guidelines

FinTech Regulatory Sandbox Guidelines

Recordkeeping for Timely Deposit Insurance Determination

EBA Impact Assessment of Adoption of IFRS 9

Issues for Consideration in Implementing IFRS 9

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