Effective May 1, 2020, amendments to B.C. Business Corporations Act will require private businesses in the province to keep and maintain transparency records of beneficial owners. Information to be
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HM Treasury and Bank of England extend Ways and Means Facility
HM Treasury and the Bank of England (the Bank) have agreed to extend temporarily the use of the government’s long-established Ways and Means (W&M) facility. As a temporary measure, -
Prudential Regulation Authority consults on supervision of funding liquidity risk
The Prudential Regulation Authority (PRA) is consulting on proposals to update its approach to supervising liquidity and funding risk. The exercise is aimed at: i) reflecting relevant updates to -
Belarus: National Bank approves a legal framework for carrying out rating activities
The National Bank of the Republic of Belarus (National Bank) has approved Regulation on the Procedures for Organizing and Carrying out Rating Activities (Regulation). The Regulator similarly approved Requirements -
Bank of Ghana directs banks to suspend distribution of dividends
The Bank of Ghana has directed banks and the Specialised Deposit-Taking Institutions (SDIs) to suspend declaring or paying dividends or distributing reserves to shareholders. These financial institutions are also
November 21, 2019
Australia: Regulator consults on further amendments to leverage ratio requirement
The Australian Prudential Regulation Authority (APRA) has released for consultation draft prudential standard on the leverage ratio requirement for authorised deposit-taking institutions. The consultation sets out APRA’s response to industry’s previous submissions. It seeks to incorporate changes to the Basel Committee on Banking Supervision’s leverage ratio standard. Stakeholders Oceania & Antarctica
November 21, 2019
Australia: Regulating governance, culture, remuneration and accountability risks
The Australian Prudential Regulation Authority (APRA) plans to intensify efforts to lift standards of governance, culture, remuneration and accountability (GCRA) across the industries it regulates. APRA’s intensified approach to GCRA aims to strengthen the resilience of financial institutions. The approach will address issues such as poor risk governance, Oceania & Antarctica
November 21, 2019
Basel Committee: Report on open banking and application programming interfaces
The Basel Committee on Banking Supervision (Basel Committee) has published its Report on open banking and application programming interfaces (APIs). The report monitors the evolving trend of open banking observed in Basel Committee member jurisdictions and the use of APIs. It discusses the implications of these developments on Other
November 20, 2019
Canada: OSFI publishes findings from consultation with deposit-taking institutions
The Office of the Superintendent of Financial Institutions (OSFI) has published findings from consultation with deposit-taking institutions. OSFI had commissioned an independent research firm to consult with deposit-taking institution CEOs, CFOs and other senior executives. Comprising of a series of confidential interviews, the purpose of the consultation was North America
November 19, 2019
Malaysia: Policy document on fair treatment of financial consumers
Bank Negara Malaysia has issued a policy document on Fair Treatment of Financial Consumers. The policy document aims to foster high standards of responsible and professional conduct in a financial service provider (FSP). The document seeks to promote a culture where the interests of financial consumers are an Asia & South America