JFSA proposed draft amendments to the regulatory notice on the "designated International Financial Reporting Standards" stipulated in the "Regulation for Terminology, Forms, and Preparation of Consolidated Financial Statements." The proposal mainly intends to define the international accounting standards that have been published through May 31, 2021, by IASB as "designated international accounting standards" set forth under Article 93 of the Regulation on Consolidated Financial Statements. These standards include IAS 39 and IFRS 9 (old and new standards on financial instruments), IFRS 7 on financial instrument disclosures, IFRS 4 on insurance contracts, and IFRS 16 on leases. The comment period on the draft amendments is open till May 29, 2021.
Comment Due Date: May 29, 2021
Keywords: Asia Pacific, Japan, Banking, Insurance, IFRD 9, Financial Instruments, IFRS 7, Disclosures, IFRS 4, Insurance Contracts, JFSA
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.
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.
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.
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
The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.
The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.
The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.
The Financial Accounting Standards Board (FASB) is seeking comments, until November 03, 2022, on the proposed technical and other conforming improvements for the 2023 GAAP Financial Reporting Taxonomy.
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.
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)