On 25 June 2020, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a position paper on sustainability (the Position Paper). In the Position Paper, the AFM describes what it expects from market parties when it comes to sustainability and how the AFM will be supervising this.
The Hong Kong Monetary Authority (HKMA) has issued, by notice in the Gazette, revised versions of the Supervisory Policy Manual (SPM) modules CA-G-1 and RE-1 as statutory guidelines under section 7(3) of the Banking Ordinance.[1]
CA-G-1 “Overview of Capital Adequacy Regime for Locally Incorporated Authorized Institutions”
The changes incorporated in
On 25 June 2020, HM Treasury published a draft of The Equivalence Determinations for Financial Services (Amendment etc.) (EU Exit) Regulations 2020 together with a draft explanatory memorandum.
The Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019 (Equivalence Regulations 2019) would have enabled HM Treasury and
On 24 June 2020, the FCA updated its webpage dealing with those activities that have been delayed due to the COVID-19 pandemic. The FCA has changed the dates for the following publications:
On 25 June 2020, the Bank of England (BoE) published a record of the Financial Policy Committee (FPC) covering decisions taken since 7 May 2020.
Among other things the FPC agreed that it was appropriate to maintain the UK Countercyclical Capital Buffer (CCyB) rate at 0% in Q2 2020.
On 19 June 2020, there was published in the Official Journal of the EU (OJ) the Delegated Regulation that the European Commission adopted on 7 May 2020 amending Delegated Regulation (EU) 2016/1675 which supplements the Fourth Anti-Money Laundering Directive by identifying those third countries that have strategic deficiencies in anti-money laundering and countering
On 25 June 2020, the European Systemic Risk Board (ESRB) published an opinion on the earlier European Securities and Markets Authority’s report on post trade risk reduction services with regards to the clearing obligation. The ESRB opinion concludes that while the use of post trade reduction services in non-centrally cleared over-the-counter markets can
On 25 June 2020, the European Systemic Risk Board (ESRB) published an opinion on the earlier European Securities and Markets Authority’s (ESMA) report on central clearing solutions for pension scheme arrangements (PSAs).
The ESRB opinion concludes that the best way to remove obstacles for PSAs is to promote indirect
On 25 June 2020, the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report ‘Central counterparty default management auctions – Issues for consideration’.
The purpose of the report is to provide a description of the issues that a central counterparty (
On 25 June 2020, the International Organisation of Securities Commissions (IOSCO) issued a consultation report ‘The use of artificial intelligence and machine learning by market intermediaries and asset managers’.
The consultation report proposes guidance to assist IOSCO members in providing appropriate regulatory frameworks to supervise market intermediaries and asset managers that utilise