Follow Us

Follow us on Twitter  Follow us on LinkedIn
 
Home>
Print Page Save to My Library <Next Article  Previous Article>
10 March 2016

This week in "Brussels"
  Jump directly to
Banking Securities Insurance
Asset Management Corporate Governance/Accounting Financial Services Policy
Graham's Articles, Comments & Speeches   About this email

  Articles from 03 March 2016 - 10 March 2016

  Banking
 
 
Basel Committee issues proposed revisions to the operational risk capital framework
The Basel Committee has issued for consultation proposed revisions to the operational risk capital framework. The new SMA for operational risk builds on the Committee's earlier consultation paper issued in October 2014.  View Article
EBA seeks comments on reporting of prudent valuation information
The EBA launched a public consultation on the inclusion of prudent valuation into COREP. The amendments proposed by the EBA reflect the prudent valuation requirements in Commission Delegated Regulation.   View Article
EPC: Publication of a new version of the SMIRs, enhancing transparency and stakeholder involvement
The SMIRs contain descriptions of the internal organisation, structure, rules, and processes that make up the scheme management of the EPC SEPA schemes. This new version of the SMIRs includes changes meant to enhance transparency and stakeholder involvement.  View Article
Bank of England: New accountability regime for banks and insurers comes into force
The Senior Managers Regime for the banking sector and the Senior Insurance Managers will hold individuals working at all levels within relevant firms to appropriate standards of conduct and ensure that senior managers are held to account for misconduct that falls within their area of responsibility.  View Article
Bank of England: The implementation of ring-fencing - the PRA’s approach to ring-fencing transfer schemes
This policy statement sets out the PRA’s responses to feedback on Consultation Paper ‘The implementation of ring-fencing: the PRA’s approach to ring-fencing transfer schemes’. It also includes the final statement of policy following the mentioned CP.  View Article
 
  Securities
 
 
Investors and issuers unite to support Simple, Transparent and Standardised securitisation
Investors, issuers and other market participants represented by AFME, EFAMA, ICMA and InsuraceEurope strongly support efforts by EU policymakers to develop a new framework for the regulation of securitisation.  View Article
ESAs publish final draft technical standards on margin requirements for non-centrally cleared derivatives
These RTS cover the risk mitigation techniques related to the exchange of collateral to cover exposures arising from non-centrally cleared over-the-counter derivatives.  View Article
ISDA publishes Australian clearing classification letter
ISDA published a new classification letter that will enable counterparties to notify each other of their status for clearing requirements under Australia’s mandatory central clearing regime for over-the-counter derivatives.  View Article
 
  Insurance
 
 
Insurance Europe: Exceeding OECD tax avoidance recommendations could harm EU competitiveness
Insurance Europe has commented on the EC’s anti-tax avoidance package and the upcoming common consolidated corporate tax base (CCCTB) proposal. Insurance Europe supports the objective of tackling tax avoidance and abusive tax practices, and the creation of a level playing field for all businesses.  View Article
European Parliament confirms new EIOPA executive director, Fausto Parente
The European Parliament confirmed the appointment of Fausto Parente as the new Executive Director of the EIOPA. His five-year term starts on 1 April 2016.   View Article
EIOPA appoints new members of Stakeholder Groups
The Board of Supervisors of the EIOPA, following an open selection process, appointed new members of the Insurance & Reinsurance and Occupational Pensions Stakeholder Groups.  View Article
 
  Asset Management
 
 
AIMA publishes new guide to operational risk management
The AIMA Guide to Sound Practices for Operational Risk Management focuses on a wide variety of risks that could result in loss from inadequate or failed internal processes, people and systems or from external events.  View Article
IPE: Commission mulls whether to continue developing personal pension product
The European Commission wants to have “an informed view” by year-end on whether to continue developing a pan-European personal pension product.  View Article
IPE: Negative rates here to stay despite strain on pensions
This year’s edition of Barclay’s annual Equity Gilt Study comes as financial market participants debate what can be expected from the European Central Bank further ahead.  View Article
Hedgeweek: Considerations when selecting a depositary to an Alternative Investment Fund
Under Article 21 of the AIFMD, any AIFM running an EU-based Alternative Investment Fund is required to appoint a single full scope depositary to carry out four core duties: cash monitoring, safekeeping and verification of assets and general oversight of the AIF.  View Article
Hedgeweek: Considerations for appointing an external AIFM
This article talks about one of the biggest decisions for fund managers under AIFMD, which is whether or not to appoint an external AIFM.  View Article
PEGCC: Fund managers face new pressure to specialize
Private equity fund managers are splitting into two distinct groups – a cadre of huge firms that do everything in alternatives and a teeming collection of specialists and boutiques – thanks to competitive pressures and shifting limited partner demands.  View Article
 
  Corporate Governance/Accounting
 
 
EFRAG: Comment Letter and Feedback Statement on the IASB's ED on application of materiality to financial statements
EFRAG supports the objective to provide non-mandatory application guidance on materiality and considers that such guidance could be helpful to provide a common ground for applying judgement in deciding which information is relevant for users and fostering thinking on how materiality is applied.  View Article
EBA issues amended standards on supervisory reporting for institutions
The EBA published its final draft Implementing Technical Standards amending the Commission's Implementing Regulation No 680/2014 on supervisory reporting.  View Article
EBA publishes new DPM and XBRL taxonomy 2.5 for remittance of supervisory reporting
The EBA published a revised XBRL taxonomy that Competent Authorities should use for the remittance of data under the EBA Implementing Technical Standards on supervisory reporting.   View Article
IFAC: How expected credit loss models will affect auditors
The IAASB released a publication highlighting the audit issues arising from the shift to Expected Credit Loss models when accounting for loan losses. ECL models are now required, or will soon be required, by some financial reporting frameworks, including IFRS 9, Financial Instruments.  View Article
FEE: Views on the development of consistent high quality non-financial reporting in Europe
FEE´s Position Paper highlights the requirements of the EU Directive on disclosure of non-financial and diversity information, which is due to be transposed into Member States’ national laws by 6 December 2016.  View Article
IASB: Supporting implementation through education
The IFRS Foundation’s Education Initiative was created to support the adoption and consistent application of IFRS Standards worldwide. At its centre is a project to encourage an ‘IFRS mindset’ in the global accounting and investor community.   View Article
 
  Financial Services Policy
 
 
TheCityUK: Key facts about UK financial and related professional services 2016
TheCityUK's latest report highlights the importance of financial and related professional services to the UK’s economy.  View Article
EPC: Strengthening the fight against terrorist financing - the Commission’s thoughts that will guide the forthcoming legislative proposal
Lawmakers share the thoughts that guided the European Commission’s Action Plan to strengthen the fight against terrorist financing.  View Article
BaFin examines credit-linked notes in retail market
BaFin is investigating the extent to which credit-linked notes are being actively sold to retail clients and whether such clients receive sufficient explanation of the risks involved.  View Article
 
  Grahams Articles, Comments & Speeches
 
 
Launch of CPD courses with a lecture at Cass Business School - organised by The CISI
Graham Bishop gives the first of a series of ten online lectures as his bold plan to explain how and why the current system of financial services regulation has come into existence across the EU.  View Article
The Call for Evidence
The Commission recently asked for empirical evidence and concrete feedback on the EU Financial Services Regulation; some clear trends emerged from the the submissions by the trade associations, while ECON and the ECB called for a much more comprehensive and continuous review process.  View Article
 

  Graham's tweets


© Graham Bishop

< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information


Add new comment





 


www.grahambishop.com
// Business Applications by Denaploy 		Web Master Information
Terms & Conditions
Privacy Policy