Featured Product

    BoE Issues Final Procedures for Enforcement Decision Making Committee

    August 03, 2018

    BoE published policy statement (PS/EDMC2018) on Enforcement Decision Making Committee (EDMC), which provides feedback to responses to the consultation paper CP/EDMC2017. The policy statement sets out final procedures for the EDMC in Appendix 1 while it details the final amendments to the PRA decision-making framework in Appendix 2. Final amendments to the Financial Market Infrastructures (FMI) decision-making framework are detailed in Appendix 3. BoE also published the updated statement of policy on PRA decision-making framework and policy statement on FMI decision-making framework.

    BoE had received three responses to CP/EDMC2017. The respondents all supported establishing a unified EDMC and made a number of representations. The CP/EDMC2017 proposed that EDMC will be the decision making body of BoE in relation to contested enforcement cases within the statutory regimes operated by BoE in relation to prudential regulation, FMI, and resolution. EDMC will strengthen the enforcement processes of BoE by ensuring a functional separation between the investigation teams of BoE and the decision makers in contested enforcement cases. EDMC, a committee of BoE, will be made up of individuals who are not employees of BoE and who will be independent from the existing executive management structure of BoE.

     

    Related Links

    Keywords: Europe, UK, FMI, Enforcement Decisions, EDMC, BoE

    Related Articles
    News

    APRA Revises Related Entities Standard for Banks

    APRA published a strengthened prudential standard APS 222 on associations with related entities, with the aim to mitigate contagion risk within banking groups.

    August 20, 2019 WebPage Regulatory News
    News

    HKMA Revises Implementation Schedule for Initial Margin Rules

    HKMA intends to adopt a revised implementation schedule for the margin requirements for non-centrally cleared derivatives.

    August 16, 2019 WebPage Regulatory News
    News

    HKMA Revises Guideline on Application of Banking Disclosure Rules

    HKMA issued a revised version of the Supervisory Policy Manual module CA-D-1 on guideline on the application of the Banking (Disclosure) Rules (BDR).

    August 16, 2019 WebPage Regulatory News
    News

    ECB Decision on Recognizing Reporting Member States Under AnaCredit

    ECB has finalized the Decision 2019/1348 (ECB/2019/20) that establishes procedure for recognizing non-euro area member states as reporting member states under the AnaCredit Regulation (EU 2016/867).

    August 16, 2019 WebPage Regulatory News
    News

    FASB Proposes to Extend CECL Standard Deadline for Certain Entities

    FASB proposed an Accounting Standards Update that would grant private companies, not-for-profit organizations, and certain small public companies additional time to implement FASB standards on current expected credit losses (CECL), leases, and hedging.

    August 15, 2019 WebPage Regulatory News
    News

    IASB Adds Phase Two of IBOR Reform to Its Work Plan

    IASB (or the Board) has added the second phase of its project focused on potential financial reporting implications linked to the interest rate benchmark reform—interbank offer rate (IBOR) reform—to its work plan.

    August 15, 2019 WebPage Regulatory News
    News

    FED Updates Draft Instructions for Proposed FR Y-14 Reporting Forms

    FED updated draft instructions for the monthly, quarterly, and annual capital assessments and stress testing reports, also known as forms FR Y-14M, FR Y-14Q, FR Y-14A, respectively.

    August 15, 2019 WebPage Regulatory News
    News

    FASB Proposes Taxonomy Changes Related to Topics 326, 815, and 842

    FASB is proposing taxonomy improvements for the proposed Accounting Standards Update on clarifying the interactions among topic 321 on investments in equity securities), topic 323 on investments under equity method and joint ventures), and topic 815 on derivatives and hedging.

    August 15, 2019 WebPage Regulatory News
    News

    OCC Updates Bank Accounting Advisory Series in August 2019

    OCC released an update to the Bank Accounting Advisory Series (BAAS), which reflects accounting standards issued by FASB, through March 31, 2019, on topics such as hedging and credit losses.

    August 15, 2019 WebPage Regulatory News
    News

    APRA Consults on Final Phase Margin Rules for Uncleared Derivatives

    APRA is consulting on amendments to the prudential standard CPS 226 on margin and risk mitigation requirements for non-centrally cleared derivatives.

    August 14, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3656