News

Search Filters

Advanced Search Advanced Search
Date range:

Showing 12051 - 12060 of 13383 matches filtered by 'Banking and finance'

  • BIS/IOSCO: Point of sale disclosure in the insurance, banking and securities sectors

    15/08/2013
    This consultation identifies and assesses differences and gaps in regulatory approaches to point of sale disclosure for investment and savings products... across the insurance, banking and securities sectors. The report considers whether regulatory approaches to disclosure need to be further aligned across sectors. It proposes a number of recommendations. It suggests that jurisdictions should consider implementing a concise written or electronic point of sale disclosure document for the product sample identified in this report, taking into account the jurisdiction’s regulatory regime and to be provided to consumers free of charge, before the time of purchase.
    Support Information
    Show more Show less
  • BIS/IOSCO: Longevity risk transfer markets: market structure, growth drivers and impediments, and potential risks

    15/08/2013
    This consultation considers longevity risk transfer markets and sets out a number of recommendations for supervisors and policymakers. Among these,... it argues that policymakers should review rules and regulations pertaining to the measurement, management and disclosure of longevity risk; .consider ensuring that institutions taking on longevity risk, including pension fund sponsors, are able to withstand unexpected, as well as expected, increases in life expectancy and monitor longevity risk transfers taking place between corporates, banks, (re)insurers and the financial markets, as well as taking into account longevity swaps which may expose the banking sector to longevity tail risk, possibly leading to risk transfer chain breakdowns. Responses are required by 18 October 2013.
    Support Information
    Show more Show less
  • CC: Payday lending market investigation – statement of issues

    14/08/2013
    Following the referral by OFT, CC has published an issues statement setting out the key areas which its inquiry is examining... at this stage. It is emphasised that the statement does not imply that any competition concerns have yet been found. Interested parties are invited to respond to the statement by 20 September 2013.
    Support Information
    Show more Show less
  • BIS: Evaluating early warning indicators of banking crises: satisfying policy requirements

    14/08/2013
    This BIS working paper considers how early warning indicators of banking crises should be evaluated on the basis of their performance... relative to the macroprudential policy maker’s decision.
    Support Information
    Show more Show less
  • IOSCO/BIS: Recovery of financial market infrastructures

    12/08/2013
    The report provides guidance to financial market infrastructures such as CCPs on how to develop plans to enable them to recover... from threats to their viability and financial strength that might prevent them from continuing to provide critical services to their participants and the markets they serve. It also provides guidance to relevant authorities in carrying out their responsibilities associated with the development and implementation of recovery plans and tools. Responses are required by 11 October 2013.
    Support Information
    Show more Show less
  • IOSCO/BIS: Implementation monitoring of PFMIs – Level 1 assessment

    12/08/2013
    It is noted that IOSCO and BIS have started the process of monitoring implementation of the principles for financial market infrastructures... (PFMIs) . This report reviews jurisdictions' progress towards adopting the legislation and other policies that will enable them to completely implement the 24 Principles for FMIs and the responsibilities for authorities included in the PFMIs. Future assessments will evaluate the consistency of implementation measures in each jurisdiction with the PFMIs and will evaluate consistency of outcomes among FMIs themselves resulting from the application of the PFMIs. The report indicates that most jurisdictions have begun the process of implementation and that although few have completed the process many are making good progress and expect to be well advanced by the end of 2013.
    Support Information
    Show more Show less
  • HMRC: Raising the stakes on tax avoidance

    12/08/2013
    HMRC is consulting on proposals to tackle the behaviour of high-risk promoters of avoidance schemes, including naming high-risk promoters, a range... of new information requirements and other associated penalties. high-risk promoters of avoidance schemes and penalties for users of failed avoidance schemes, including the proposal to “name and shame” promoters of avoidance schemes whose behaviour is high-risk; Raising the stakes on tax avoidance consultation looks to give HMRC the power to do so unreservedly. Other proposals include new information powers so that HMRC gets early information about the avoidance schemes which these high-risk promoters are promoting and penalties of up to £1 million for failing to comply with the information powers. A section on “mis-selling” reports that HMRC has been working with FCA and other consumer protection regulators to establish: if and how HMRC can utilise existing regulations to control high-risk promoters; which tax products are already within a regulatory framework, for example subject to FCA conduct of business rules and if tax products in a more generic way could be included in a regulatory regime. Responses are required by 4 October 2013.
    Support Information
    Show more Show less
  • FSB: Application of the key attributes of effective resolution regimes to non-bank financial institutions/ Information sharing for resolution purposes

    12/08/2013
    FSB has published consultations on the key attributes of effective resolution regimes for financial institutions to non-bank financial institutions and on... principles governing information sharing for resolution purposes. The proposed guidance is designed to assist jurisdictions and authorities in implementing the key attributes with respect to resolution regimes for financial market infrastructures (including CCPs, central securities depositories and securities settlement systems), insurers and firms with holdings of client assets. The proposed guidance on this accompanies the BIS/IOSCO paper published today. The guidance on resolution of insurers complements the recent guidance published by IAIS. Responses are required by 15 October 2013.
    Support Information
    Show more Show less
  • FMLC: Issue 176: Financial transaction tax

    12/08/2013
    FMLC has published the texts of letters sent to the EC with regard to concerns over legal uncertainties arising from the... draft Financial Transaction Tax under "enhanced cooperation”..
    Support Information
    Show more Show less