IOSCO published a report on the findings of an updated survey on the principles for the regulation and supervision of commodity derivatives markets. The results show that respondent IOSCO members are not only broadly compliant with the IOSCO principles for regulation and supervision of commodity derivatives markets but have also made substantial progress toward achieving full compliance; in many cases, the members have strengthened their implementation of the principles.
The report provides a summary of the updated survey results and sets out the areas in which IOSCO members have achieved compliance through the implementation of regulatory reforms. Annexes to the report present results from the 2018 survey review exercise. Annex A shows that IOSCO members that have progressed toward achieving full compliance with the Principles by taking action to resolve those gaps previously identified in the 2012 and 2014 reports. Annex B provides a summary of the responding IOSCO members´ regulatory reforms, date of their implementation, and the effect toward compliance with the principles.
The survey provided an opportunity for IOSCO members to self-audit their regulatory practices and identify the measures that could help them comply with the principles. IOSCO members from the EU member states prepared a joint response to the survey. This report represents the third review conducted by IOSCO on the implementation of the principles, following previous reviews conducted in 2012 and 2014. IOSCO believes this third review satisfies the original request by the G20 Leaders, and, unless the G20 requests a further review, this report constitutes the final implementation review.
Keywords: International, Securities, Commodity Derivatives, Regulation and Supervision, Survey, IOSCO
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).
EBA published a statement on resolution planning in light of the COVID-19 pandemic.
BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework
ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.
FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.