The Monetary Authority of Singapore has published guideline requirements for the margining of non-centrally cleared OTC derivatives contracts. The guidelines address key areas including the scope of products and
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Basel Committee consults on Pillar 3 disclosure templates
The Basel Committee on Banking Supervision has published two consultative documents related to Pillar 3 disclosure. The first document proposes a set of revised disclosure requirements related to the -
United Kingdom: Update to Pre-Issuance Notification Requirements
The Prudential Regulation Authority (PRA) has published a consultation paper, outlining proposals for amendments to Pre-Issuance Notification (PIN) regime applicable to PRA-authorised Capital Requirements Regulation (575/2013) firms. The PRA’s -
Finland: Strong customer authentication in online card payments deferred
Finland Financial Supervisory Authority (FIN-FSA) has indicated that it will, on a temporary basis, not impose administrative sanctions on supervised entities for not implementing strong controls to authenticate customers with -
Consumer Protection: Bank of Russia discusses draft law
The Bank of Russia has indicated that the protection of retail investors in the financial market needs to be enhanced. In moving this forward, the Bank recently discussed a
November 25, 2019
Mauritius: Guidelines on Complaints Handling Policy and Procedures
The Bank of Mauritius has published the Guidelines on Complaints Handling Policy and Procedures. The guidelines apply to licensed banks and non-bank deposit-taking institutions. Issued by the Ombudsperson for Financial Services, the guidelines came into effect on October 7, 2019. Photo Credit: Pixabay Africa
November 25, 2019
South African Reserve Bank to implement Basel Committee’s regulatory reforms
The South African Reserve Bank has published G6/2019. G6/2019 outlines the prudential regulator’s proposed implementation dates for various regulatory reforms introduced by the Basel Committee on Banking Supervision. Further details are available here. Photo Credit: cocoparisienne from Pixabay Africa
November 24, 2019
Nigeria: Draft guidelines for shared services arrangements for banks
The Central Bank of Nigeria has issued draft guidelines on the initiation, evaluation and pricing of shared services by banks and financial institutions. According to the regulator, the absence of standards on shared services and transfer pricing arrangements have resulted in uneven management of shared services in the banking Africa
November 22, 2019
Ireland: New lending rules for credit unions
The Central Bank has issued new lending rules for credit unions. The rules remove the existing lending maturity limits which cap the percentage of credit union lending which may be outstanding for periods of greater than 5 and 10 years. Maturity limits will be replaced by new concentration Europe
November 22, 2019
Financial Stability Board publishes 2019 G-SIB list
The Financial Stability Board (FSB) has published the 2019 list of global systemically important banks (G-SIBs). The FSB added Toronto Dominion Bank (TD) to the list of G-SIBs, making the overall number of G-SIBs increase from 29 to 30. TD’s regulator, the Office of the Superintendent of Financial Other