IOSCO published a report on the findings of an updated survey on the principles for the regulation and supervision of commodity derivatives markets. The results show that respondent IOSCO members are not only broadly compliant with the IOSCO principles for regulation and supervision of commodity derivatives markets but have also made substantial progress toward achieving full compliance; in many cases, the members have strengthened their implementation of the principles.
The report provides a summary of the updated survey results and sets out the areas in which IOSCO members have achieved compliance through the implementation of regulatory reforms. Annexes to the report present results from the 2018 survey review exercise. Annex A shows that IOSCO members that have progressed toward achieving full compliance with the Principles by taking action to resolve those gaps previously identified in the 2012 and 2014 reports. Annex B provides a summary of the responding IOSCO members´ regulatory reforms, date of their implementation, and the effect toward compliance with the principles.
The survey provided an opportunity for IOSCO members to self-audit their regulatory practices and identify the measures that could help them comply with the principles. IOSCO members from the EU member states prepared a joint response to the survey. This report represents the third review conducted by IOSCO on the implementation of the principles, following previous reviews conducted in 2012 and 2014. IOSCO believes this third review satisfies the original request by the G20 Leaders, and, unless the G20 requests a further review, this report constitutes the final implementation review.
Keywords: International, Securities, Commodity Derivatives, Regulation and Supervision, Survey, IOSCO
BoE updated the known issues document for the statistical reporting Forms AS and FV.
EBA updated the report on the implementation of selected COVID-19 policies.
OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.
HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.
FASB issued a new Accounting Standards Update (2020-06) to improve financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity.