This week, the Financial Stability Board (FSB) and IOSCO issued a number of statements on benchmarks, with a goal to support a smooth LIBOR transition. As discussed below, the statements by financial stability policymakers generally urged market participants to accelerate the pace of...
On 22 April 2021, the Australian Prudential Regulation Authority (APRA)[1] has released for consultation[2] its draft Prudential Practice Guide CPG 229 Climate Change Financial Risks ("draft CPG 229"), outlining voluntary prudential practices for APRA-regulated institutions, including...
On 27 May 2021, the China Banking and Insurance Regulatory Commission (CBIRC) released the Wealth Management Measures for the Administration of Sales for Wealth Management Products Issued by Wealth Management Companies (Wealth Management Measures), governing the distribution of wealth...
On May 28, 2021, we submitted the attached comment letter providing feedback on the UK Financial Conduct Authority's (FCA's) second consultation on the implementation of the Investment Firms Prudential Regime (IFPR). The IFPR - a new prudential regime for investment firms authorized...
CFA Institute is developing voluntary, global industry standards - CFA Institute ESG Disclosure Standards for Investment Products - to establish disclosure requirements for investment products with environmental, social, and governance (ESG)-related features. In August 2020, it...
On January 30, 2021, the European Securities and Market Authority (ESMA) launched a Common Supervisory Action (CSA) on UCITS liquidity risk management (LRM). The goal of the exercise was to conduct coordinated supervisory activities to assess whether UCITS managers comply with their...
Last week, the UK Financial Conduct Authority (FCA) issued a consultation soliciting feedback on which contracts and financial instruments it should permit to use "synthetic" LIBOR rates after those rates can no longer be used under their current calculation methodology. The...
In March, the European Commission launched a consultation[1] on supervisory convergence and the single rule book. Input to the consultation will feed into the preparation of a report required by the Capital Markets Union,[2] which will also cover the review required under the European...
CFA Institute is developing voluntary, global industry standards—CFA Institute ESG Disclosure Standards for Investment Products—to establish disclosure requirements for investment products with environmental, social, and governance (ESG)-related features. In August 2020, it released a...
On May 18, the Office of Foreign Assets Control (OFAC) issued General License 1B "Authorizing Transactions Involving Securities of Certain Communist Chinese Military Companies"[1] with respect to Executive Order 13959 of November 12, 2020, Addressing the Threat From Securities...
