June 2016

On June 29, 2016, the Financial Stability Oversight Council (FSOC) announced that it had voted to lift its designation of GE Capital as a systemically important financial institution (SIFI). The Dodd Frank financial reform act established the FSOC, which is chaired by the US Treasury Secretary and includes the major US financial regulators, after the

On 30 June 2016, the Dutch Central Bank (De Nederlandsche Bank, DNB) published the results of its investigation in 2015 into the security of information by 22 financial institutions (including insurers, banks and pension administration organisations).

The information security framework has been widely deployed in the financial sector as of 2010. Compliance

Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements as amended by Directive 2009/44/EC (FCD) creates a harmonised EU legal framework for the creation and enforcement of collateral, i.e. ‘title transfer financial collateral arrangements’ (where the full title to the collateral is transferred to

The European Commission has adopted a Delegated Regulation supplementing MiFID II with regard to regulatory technical standards (RTS) specifying information to be notified by investment firms, market operators and credit institutions.

Articles 34(8) and 35(11) of MiFID II empower the European Securities and Markets Authority to develop an exhaustive list of information to

The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) have published a final report, Guidance on cyber resilience for financial market infrastructures (the Guidance).

The Guidance is intended to help financial market infrastructures (FMIs) to enhance their cyber resilience. In

On 29 June 2016, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published its response to a report on the manner in which the AFM supervised and evaluated the reassessment of interest rate derivatives by banks (the Report). The Report has been prepared by an independent external research