The International Association of Insurance Supervisors confirms work on global cyber security standards for the industry
CFTC adopts cross-border swaps rule
The Commodity Futures Trading Commission seeks to shut down a regulatory loophole regarding swaps trades with new cross-border rule
GAO consider case for merging some US regulators
Too many US regulators may not be sharing enough information or working together closely enough, which has left the Government Accounting Office wondering if they might be missing important clues to another financial crisis
FINMA consults on tighter insurance rules
The Swiss Financial Market Supervisory Authority has launched a consultation on four circulars ranging from business plan practices through to the composition of boards for insurance companies
Grey areas remain as benchmark rules near final shape
Europe’s benchmark regulation is an ambitious attempt to protect consumers from price manipulation, but has left many industry participants feeling uncomfortable as the rules often collide with other directives.
Basel move on external ratings welcomed, but concerns remain
Banks welcomed the use of external ratings as part of the regulatory risk assessment process. However, they still have issues concerning granularity and sensitivity as laid out in the latest ‘revisions to the standardised approach for credit risk’ published by the Basel Committee on Banking Supervision.
Brexit vote puts City of London on edge
Outside of the EU, the City of London would be faced with a very uncertain future though it may also present some opportunities as the UK would be free to sign its own trade deals and better fine tune its financial regulation.
Basel heaps more pressure on derivatives
The focus by regulators of making the banking system safer is steadily piling up the costs on the use of derivatives leaving many participants wondering how far it will go.
Despite much progress ‘gaps’ remain in the Basel regulatory framework – BCBS’s Coen
Corporate governance and culture, IT systems and stress-testing were among the topics addressed in early April in a speech by William Coen, secretary general of the Basel Committee on Banking Supervision where he emphasised that there is still work to be done.
Bank focus on dividends over loans should be addressed, says BIS official
Eurozone banks are placing too much emphasis on paying cash to shareholders when they should be beefing up capital reserves so they lend more says a BIS official.
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