In summer 2024, the Prudential Regulation Authority (PRA) published a Consultation Paper, CP11/24, on International firms: Updates to Supervisory Statement (SS5/21) and branch reporting. CP11/24 is key to understanding the booking models that the PRA will accept and reflects the debates which the branches of European banks have had in
The Trusts Bill 2024 (Qld) (Trusts Bill) was tabled in the Queensland Parliament on 21 May 2024. The objective of the Trusts Bill is to replace the Trusts Act 1973 (Qld) (the Act) with modernised and simplified trusts legislation and is aimed at enhancing and streamlining the law of trusts in Queensland
On 22 July 2024, the Financial Stability Board issued a progress report regarding enhancing the resilience of non-bank financial intermediation (NBFI).
The progress report describes recent and ongoing work by the FSB to address systemic risk of NBFI. It sets out the main findings of work over the past year to assess and
On 16 July 2024, the Financial Stability Board (FSB) issued consultation reports on proposed recommendations intended to promote greater alignment in data frameworks related to cross-border payments and consistency in the regulation and supervision of bank and non-bank payment service providers.
The recommendations regarding data frameworks follow an FSB stocktake of national and
In our EMEA regulatory insights series colleagues from our EMEA offices provide an update on some of the key regulatory issues they are seeing in their local market. In this latest episode James Morris from our Sydney office discusses recent regulatory developments in Australia including:
On 3 June 2024, the International Organization of Securities Commissions (IOSCO) issued a final report – Leveraged Loans and Collateralised Loan Obligations (CLOs) Good Practices for Consideration.
The final report reflects the results of a public consultation launched on 14 September 2023.
In the final report IOSCO provides an overview
On 29 April 2024, the Committee on Payments and Market Infrastructures (CPMI) published a Report on service level agreements for cross border payment arrangements, with recommendations and key features. The Report has been informed by a stocktake of existing cross-border arrangements and regular exchanges with practitioners.
The Report outlines the complexity of the
On 18 March 2024, the Financial Stability Board (FSB) published a revised version of its 2016 guidance on arrangements to support operational continuity in resolution.
The 2016 guidance assists supervisory and resolution authorities, and financial institutions to evaluate whether financial institutions that are subject to resolution planning requirements have appropriate arrangements to support
In this latest episode of our EMEA regulatory insights series colleagues from Australia, Hong Kong, and Singapore provide their thoughts and insights on what 2024 holds from a financial services regulatory perspective.
The podcast can be found here.
On 20 December 2023, the Financial Stability Board issued a report setting out revised policy recommendations to address structural vulnerabilities from asset management activities in relation to liquidity mismatch in open-ended funds. The revised policy recommendations supersede section2 of the FSB’s 2017 policy recommendations to address structural vulnerabilities from asset management activities. The revised recommendations