Featured Product

    IA of Hong Kong Launches Survey to Assess Readiness for HKFRS 17

    July 22, 2019

    IA of Hong Kong launched the second readiness assessment survey to understand the implementation activities of authorized insurers with respect to Hong Kong Financial Reporting Standard (HKFRS) 17 on insurance contracts. The survey collects information on status of readiness of an insurer, how an entity is going about the implementation of HKFRS 17, and the related technical implications. Completed surveys are requested to be submitted by August 30, 2019.

    Earlier, in September 2018, IA had conducted a readiness assessment survey to understand the preparation status of authorized insurers and the challenges in implementing the standard. IA has received positive feedback on the initiative and observed progressive move of the industry in implementing HKFRS 17. Additionally, IASB, in June 2019, had published the exposure draft of proposed amendments to IFRS 17 to respond to concerns and challenges raised by stakeholders. The Hong Kong Institute of Certified Public Accountants (HKICPA) also conducted public consultation on these IASB proposals for comments by August 19, 2019. 

     

    Related Links

    Keywords: Asia Pacific, Hong Kong, Insurance, Readiness Assessment Survey, HKFRS 17, Insurance Contracts, IFRS 17, IASB, IA

    Related Articles
    News

    PRA Revises Branch Return and Updates Guidance for Regulatory Reports

    PRA published the policy statement PS17/19, which contains the final policy related to changes in the format and content of the Branch Return Form and reporting guidance.

    September 12, 2019 WebPage Regulatory News
    News

    FINMA Outlines Treatment of Stablecoins in Supplement to Guide on ICO

    FINMA published a supplement to its initial coin offerings (ICOs) guidelines, outlining the treatment for stablecoins under the Swiss supervisory law.

    September 11, 2019 WebPage Regulatory News
    News

    Ursula von der Leyen Presents Structure of Next European Commission

    President-elect Ursula von der Leyen has presented her team and the new structure of the next European Commission.

    September 10, 2019 WebPage Regulatory News
    News

    FED Proposes to Revise and Extend Reporting Form on Systemic Risk

    FED proposed to extend for three years, with revision, the Banking Organization Systemic Risk Report (FR Y-15; OMB No. 7100-0352).

    September 10, 2019 WebPage Regulatory News
    News

    EBA Issues Revised List of Validation Rules for Reporting

    EBA published the revised list of validation rules (version 2.9) in its implementing technical standards on supervisory reporting.

    September 10, 2019 WebPage Regulatory News
    News

    Bundesbank Publishes Supplementary Validation Rules for Reporting

    Bundesbank published the updated document containing supplementary validation rules in the context of the implementation of the reporting system at national level.

    September 10, 2019 WebPage Regulatory News
    News

    APRA Licenses Xinja Bank as Authorized Deposit-Taking Institution

    APRA granted Xinja Bank Limited a license to operate as an authorized deposit-taking institution without restrictions, under the Banking Act 1959.

    September 09, 2019 WebPage Regulatory News
    News

    FDIC Proposes Revisions to Regulations on Interest Rate Restrictions

    FDIC proposed revisions to its regulations covering interest rate restrictions that apply to less than well-capitalized insured depository institutions.

    September 09, 2019 WebPage Regulatory News
    News

    EBA Intends to Clarify End-Treatment of Grandfathered Instruments

    EBA announced its intention to clarify the prudential treatment applicable to own funds instruments at the end of the grandfathering period, which expires on December 31, 2021.

    September 09, 2019 WebPage Regulatory News
    News

    IMF Releases Reports on 2019 Article IV Consultation with Saudi Arabia

    IMF published its staff report and selected issues report in context of the 2019 Article IV consultation with Saudi Arabia.

    September 09, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3799