BaFin published the key priorities for 2020. The key priorities defined by BaFin in 2020 include digitization, IT, and cyber risks; financial system integrity and the fight against financial crime; sustainable business models; and sustainable finance. These focal points of supervision are derived from the strategic goals of BaFin and shape the supervisory and audit planning for 2020. The business areas of banking, insurance, and securities supervision as well as settlement have also defined the focus of their activities in 2020.
Related Link (in German): Notification
Keywords: Europe, Germany, Banking, Insurance, Securities, Key Priorities, Cyber Risk, Sustainable Finance, ESG, BaFin
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BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.