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
Previous ArticleDNB Issues Insurance Newsletter for September 2017
Next ArticleEBA Responds to the EC Consultation on Fintech
BIS published the September issue of the Quarterly Review, which contains special features that analyze the rapid rise in equity funding for financial technology firms, the effectiveness of policy measures in response to pandemic, and the evolution of international banking.
The Basel Committee for Banking Supervision (BCBS) met in September 2021 and reviewed climate-related financial risks, discussed impact of digitalization, and welcomed efforts by the International Financial Reporting Standards (IFRS) Foundation to develop a common set of sustainability reporting standards
The Office of the Comptroller of the Currency (OCC) issued a Cease and Desist Order against MUFG Union Bank for deficiencies in technology and operational risk governance.
The European Commission (EC) published the Delegated Regulation 2021/1527 with regard to the regulatory technical standards for the contractual recognition of write down and conversion powers.
In a response to the questions posed by a member of the European Parliament, the President Christine Lagarde highlighted the commitment of the European Central Bank (ECB) to an ambitious climate-related action plan along with a roadmap, which was published in July 2021.
The Single Resolution Board (SRB) published a Communication on the application of regulatory technical standard provisions on prior permission for reducing eligible liabilities instruments as of January 01, 2022.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to provide guidance to authorized deposit-taking institutions on the interpretation of APS 120, the prudential standard on securitization.
The French Prudential Control and Resolution Authority (ACPR) published the corrective version of the RUBA taxonomy Version 1.0.1, which will come into force from the decree of January 31, 2022.
The European Commission (EC) announced that Nordea Bank has signed a guarantee agreement with the European Investment Bank (EIB) Group to support the sustainable transformation of businesses in the Nordics.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to clarify the regulatory capital treatment of investments in the overseas deposit-taking and insurance subsidiaries.