On 23 July 2018, the International Organization of Securities Commissions (IOSCO) and the Committee on Payments and Market Infrastructures (CPMI) published the fifth update to the level 1 assessment report on implementation monitoring of Principles for Financial Markets Infrastructures (PFMI).

The PFMI are international standards for systemically important payment systems, central securities depositories, securities settlement systems, central counterparties, and trade repositories – designed to foster transparency and financial stability.

For Level 1 assessments, jurisdictions are asked to self-assess their progress in completing the process of adopting the implementation measures for the financial markets infrastructure. As of 1 January 2018, 21 jurisdictions self-attested to full implementation of the infrastructure.

Jurisdictions that have not yet fully implemented the PFMI are encouraged to swiftly do so. The CPMI and IOSCO will continue to promote the timely and full implementation of the PFMI and will follow up on the measures that jurisdictions have presented to move forward with full implementation. The jurisdictions that have not yet fully implemented the PFMI are: Argentina; Chile; Korea; Indonesia; Saudi Arabia; South Africa; and the United States.