FSB lays out governance arrangements for UPIs for reporting OTC derivatives transactions

The Financial Stability Board (FSB) said in a report that the Legal Entity Identifier Regulatory Oversight Committee (LEI ROC) is best positioned to become the international governance body for the Unique Product Identifier (UPI) and Unique Transaction Identifier (UTI) and some other critical elements.

Bank of England looking to bank capital buffers to supplement monetary policy

Given the very low interest rate environment, capital buffers may need to become the main monetary policy instrument to counter swings in economic activity, according to the Bank of England.

SFC CEO Ashley Alder to step down next year

The internationally highly regarded CEO of Hong Kong’s Securities and Futures Commission (SFC), Ashley Alder, will not renew his contract when it ends in September 2020, according to media reports. 

FSB sees limited further progress on implementing OTC derivatives reforms

Between the end of November 2018 and the end of September 2019, further progress has been limited on implementing reforms for the over-the-counter (OTC) derivatives market, the Financial Stability Board (FSB) said. 

European Commission consults on implementing Basel III into EU rules

The European Commission published a consultation on October 11 asking for views on the implementation of the finalised Basel III rules into EU rules, namely the capital requirements regulation (CRR) and directive (CRD)

China to remove limits on foreign ownership of some financial firms from January

The China Securities Regulatory Commission (CSRC) said that limits on foreign ownership of futures, securities and mutual fund companies will go from January 1, 2020.

FSB warns G20 of emerging regulatory risks

Though the mission of reforming the global financial system is nearly complete, there is still a lot of work to be done, such as around resilience, stability and sustainability, the Financial Stability Board (FSB) said. 

Standard setters establish critical data elements for reporting OTC derivatives transactions

Global standard setters have set out the key criteria, functions and bodies for the governance arrangements for a set of critical data elements for over-the-counter (OTC) derivative transactions reported to trade repositories excluding the Unique Transaction Identifier (UTI) and the Unique Product Identifier (UPI).

EBA 2020 work programme focuses on six areas

In its 2020 work programme, the European Banking Authority (EBA) will focus on six key areas covering data through to financial stability. 

Five agencies finalise changes to the Volcker rule

Changes to the Volcker rule, which is designed to stop banks engaging in certain types of proprietary trading, have been finalised by the five regulatory agencies responsible for its oversight.