The European Banking Authority (EBA) has updated its Q&A on the Single Rulebook to include two new questions and answers covering:
The overall objective of the Single Rulebook Q&A tool is to ensure consistent and effective application
On August 10, 2015, the Federal Reserve Board issued a clarification on its reasoning for including “transaction monitoring costs” in the debit card interchange fee standard rather than the separate fraud prevention adjustment. This clarification was issued at the direction of the US Court of Appeals for the District of Columbia which included the requirement
The SEC has approved amendments to FINRA Rule 1250 that permit the Regulatory Element of a broker-dealer’s continuing education program to be fulfilled through a web-based platform. The continuing education requirements under FINRA Rule 1250 are broken up into two categories, a Firm Element and a Regulatory Element.
The Firm Element requires broker-dealers to establish
Almost two years ago, in November 2013, CFTC staff issued a cryptic 2-page Advisory stating that swaps between a non-US swap dealer and a non-US person, even if they are booked outside the United States, are subject to certain “Transaction-Level Requirements” adopted by the CFTC in implementing the Dodd-Frank derivatives reforms, if the non-US swap
The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions have published a short note which provides guidance on how the Principles for financial market infrastructures (PFMIs) applies to financial market infrastructures that are owned and operated by central banks. It develops what is stated in paragraph 1.23 of the PFMIs
In 2009 the G20 leaders agreed that all over-the-counter (OTC) derivatives contracts should be reported to trade repositories as part of their commitment to reform OTC derivatives markets in order to improve transparency, mitigate systemic risk and protect against market abuse. Aggregation of the data being reported across the trade repositories is necessary to help
The European Banking Authority (EBA) has been asked by the European Commission to conduct further analysis on proportionality, the scope of application and impact on markets of the calibration of Net Stable Funding Requirements (NSFR) and Leverage Ratio (LR).
The EBA will incorporate these aspects into its calibration reports on the NSFR and the LR.
In March 2014 the Basel Committee on Banking Supervision (BCBS) published a final standard on The standardised approach for measuring counterparty credit risk exposures which included a comprehensive, non-modelled approach for measuring counterparty credit risk associated with over-the-counter derivatives, exchange-traded derivatives, and long settlement transactions.
Since March 2014 the BCBS has received a number of
The Commodity Futures Trading Commission (“CFTC” or “Commission”) today proposed amendments to its rules relating to swap data reporting in connection with cleared swaps (the “Proposal”). Comments on the proposal must be submitted to the CFTC 60 days after the Proposal is published in the Federal Register. As of the date of this post, such
On August 18, 2015 the Commodity Futures Trading Commission (“CFTC’”) issued an order of exemption from registration as a derivatives clearing organization (“DCO”) to ASX Clear (Futures) Pty Limited (“ASX Clear”) of Sydney, Australia. This is the first exemption of this nature. It is based on the CFTC’s authority under section 5b(h) of the Commodity