Featured Product

    IAIS Publishes Roadmap for 2019

    June 28, 2019

    IAIS published its public roadmap for 2019 to inform stakeholders about the key activities planned for year and to facilitate greater awareness and engagement with respect to these activities. The key activities for 2019 can be thematically categorized into standard-setting, financial stability, implementation and assessment, and assessing and responding to the emerging risks and opportunities. Additionally, IAIS published a review of its work in 2018, which highlights that IAIS moved closer to finalizing the post-crisis reform agenda.

    The following are the key highlights of the IAIS roadmap:

    • Standard-setting—Projects under this area reflect work of IAIS on supervisory material to finalize the revision of the Insurance Core Principles (ICPs) and the development of the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame), including the Insurance Capital Standard (ICS). Projects include finalization of ICS Version 2.0 for confidential reporting to group-wide supervisors and developing criteria for assessing comparable outcomes between ICS and the U.S. Aggregation Method.
    • Financial Stability—Projects in this area include the work of IAIS on developing a holistic framework to mitigate systemic risk in the global insurance sector, recognizing that systemic risk may arise from both the collective activities/exposures of insurers at a sector-wide level as well as from the distress or disorderly failure of individual insurers.
    • Implementation and Assessment—Projects in this area support the IAIS objective of globally consistent and effective implementation of the IAIS’ supervisory material by assessing implementation and supporting members to implement this material through the development of targeted guidance (that is, Application and Issues Papers). The projects are related to assessment and monitoring of global systemically important insurer (G-SII) policy measures implementation and peer review process on supervisor and their objectives (ICPs 1 and 2) and corporate and risk governance (ICPs 4, 5, 7 and 8).
    • Assessing and Responding to Emerging Risks and Opportunities—Projects in this area facilitate sharing of experiences and practices among members to help them better understand emerging supervisory issues and proactively tackle related supervisory challenges and opportunities. The projects are related to fintech, cyber risk, and climate risk and sustainability.

    Keywords: International, Insurance, ICPs, ComFrame, ICS, Financial Stability, Systemic Risk, Fintech, Climate Risk, Roadmap, G-SII, IAIS

    Featured Experts
    Related Articles
    News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News
    News

    ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations

    The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.

    November 02, 2022 WebPage Regulatory News
    News

    ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector

    Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)

    October 31, 2022 WebPage Regulatory News
    News

    EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation

    The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)

    October 26, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8582