CPMI and IOSCO published the fourth update to the Level 1 assessments of implementation monitoring of the Principles of Financial Market Infrastructures (PFMI). Participating jurisdictions continue to make progress in completing the process of adopting legislation, regulations, and/or policies that will enable them to implement the PFMI. This report reflects the status of jurisdictions’ legal, regulatory, or policy frameworks as of January 06, 2017.
These Level 1 assessments are based on self-assessments by individual jurisdictions of how they have adopted, within their regulatory and oversight frameworks, the PFMI's 24 Principles for financial market infrastructure (FMI) and four of the five responsibilities for authorities. The report shows that some progress has been made among the participating jurisdictions that had not completed their implementation measures at the time of the previous update in 2016. Overall, the fourth update to the Level 1 assessments shows that participating jurisdictions have continued to make progress since the previous update in completing the process of adopting legislation, regulations, and/or policies that will enable them to implement the PFMI. Along with their updates to the Level 1 assessment, the CPMI and IOSCO also continue to monitor jurisdictions' progress at Levels 2 and 3. These assessments consider, respectively, the completeness of jurisdictions' implementation measures and their consistency with the PFMI, and consistency in the outcomes of such frameworks.
Keywords: International, Securities, PFMI, Level 1 Assessment, CPMI, IOSCO
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