IOSCO Publishes Annual Work Program for 2020
IOSCO published the work program for 2020. The work program calls for IOSCO to continue its efforts on the five priorities for 2019 while undertaking work on a new priority concerning the rising levels of corporate debt and leveraged loans and the potential resulting risks in capital markets. The priorities from 2019 that will continue to be priorities in 2020 constitute work that relates to crypto-assets, artificial intelligence and machine learning, market fragmentation, passive investing and index providers, and retail distribution and digitalization. The work program elaborates on the timelines of the key deliverables in these areas.
For corporate debt and leveraged finance, IOSCO will focus its attention on the risks created by the current origination practices, the chains of intermediation in the corporate debt market, and the associated conflicts of interest. To this end, IOSCO will publish a report on conduct-related issues in the leveraged loans and collateralized loan obligation markets. Other important workstreams include those related to asset management, particularly in the areas of liquidity risk management and leverage. Additionally, IOSCO will maintain its focus on systemic risk in capital markets across its different workstreams and continue to collaborate and engage effectively on this topic with FSB and the other standard-setting bodies. IOSCO will further its efforts in fintech and sustainable finance, including through the Sustainable Finance Network and the Fintech Network, and will pursue matters of special importance to growth and emerging markets. The work program also refers to other important workstreams that are being carried out by the eight Policy Committees of IOSCO.
Related Links
Keywords: International, Securities, Work Program, Crypto Assets, Market Fragmentation, Corporate Debt, Leveraged Lending, Regtech, Fintech, IOSCO
Previous Article
FSI Survey Examines Policy Responses to Fintech DevelopmentsRelated Articles
FED Issues Further Details on Pilot Climate Scenario Analysis Exercise
The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.
US Agencies Issue Several Regulatory and Reporting Updates
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
ECB Issues Multiple Reports and Regulatory Updates for Banks
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
CBIRC Revises Measures on Corporate Governance Supervision
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
HKMA Publications Address Sustainability Issues in Financial Sector
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
EBA Updates Address Basel and NPL Requirements for Banks
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.
ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite
The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.
FCA Sets up ESG Committee, Imposes Penalties, and Issues Other Updates
The Financial Conduct Authority (FCA) is seeking comments, until December 21, 2022, on the draft guidance for firms to support existing mortgage borrowers.