BaFin has reduced the countercyclical buffer rate to zero percent effective April 1, 2020. According to the regulator, the rate reduction is aimed to strengthen the resilience of the
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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 -
Central Bank of Nigeria issues a Framework for Regulatory Sandbox Operations
The Central Bank of Nigeria has issued a framework for regulatory sandbox operations. According to the Bank, the Framework will enable it to ‘stay abreast of innovations while promoting -
New reporting requirements: FINTRAC’s implementation delivery schedule
FINTRAC has published a delivery schedule for the implementation of new reporting obligations related to the amended Regulations that will come into force on June 1, 2021. The schedule -
United Kingdom: PRA consults on Probability of Default and Loss Given Default Estimation
The Prudential Regulation Authority (PRA) has published a Consultation Paper (CP 21/19) on Probability of Default (PD) estimation and Loss Given Default (LGD) estimation. The PRA is seeking feedback
November 19, 2019
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 market risk framework finalized in January 2019. The second document consults on voluntary disclosure templates related to banks’ sovereign Other
November 19, 2019
Dubai: Proposals on money services businesses
The Dubai Financial Services Authority has released Consultation Paper No. 125 – Proposals for Money Services. Stakeholders are required to provide comments on the consultation paper by December 15, 2019. Photo Credit: Paule_Knete from Pixabay Asia & South America
November 19, 2019
Ireland: Central Bank launches guidance on enforcement sanctions
The Central Bank of Ireland has published a new guide to sanctions imposed under the Administrative Sanctions Procedure (ASP) for the financial services sector. The ASP Sanctions Guidance increases transparency by providing greater clarity on the Central Bank’s general approach to sanctioning of firms and individuals. It also Europe
November 19, 2019
South Korea: Measures to strengthen investor protection
The Financial Services Commission and the Financial Supervisory Service have unveiled measures to strengthen investor protection regarding high-risk financial investment products. The measures come after recent derivatives-linked funds mis-selling cases in the country. They are aimed at enhancing consumer protection and maintaining stability in the financial system, without jeopardizing Asia & South America
November 19, 2019
Canada: FINTRAC updates its guidance on customer verification requirements
FINTRAC has updated its guidance on methods to verify the identity of an individual and confirm the existence of a corporation or an entity other than a corporation. The requirements to verify the identity of an individual and confirm the existence of a corporation or of an entity other than North America