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
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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 -
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 -
IsDB and ITFC sign agency agreement to support COVID-19 Restore Program
The Islamic Development Bank and the International Islamic Trade Finance Corporation have signed an agency agreement to facilitate the implementation of COVID-19 Restore Program. The program will be implemented -
Botswana: Guidance on the regulatory treatment of IFRS 9 in the context of COVID-19
The Bank of Botswana has released two circulars to address IFRS 9 requirements during the COVID-19 pandemic. The first circular is on Guidance on the Regulatory Treatment of IFRS
October 22, 2019
Bank of Mauritius ratifies MoU on banking supervision
The Bank of Mauritius and the Bank Al-Maghrib have signed a Memorandum of Understanding (MoU) on banking supervision. The MoU establishes a collaborative framework to facilitate the sharing of supervisory information and documents. The MoU also addresses substantive issues with any bank operating in the home and the Africa
October 21, 2019
The Netherlands: Banks to hold more capital for their mortgage portfolios
The DNB has indicated it will introduce a floor for risk weights of domestic mortgage loan portfolios of Dutch banks. According to the regulator, the floor will increase with the loan to value ratio of the underlying mortgage loans. Due to this proposed measure, the risk weights of mortgage Europe
October 21, 2019
Regulator clarifies forex trading in Namibia
The Bank of Namibia has clarified forex trading in Namibia. According to the regulator, the exchange or conversion of the Namibia Dollar into any foreign currency is regulated to control the use of Namibia’s foreign currency reserves in the best interest of the economy. Further details are available Africa
October 21, 2019
British Columbia: Proposed changes to Financial Institutions Framework
The Government of British Columbia has proposed changes to the Financial Institutions Act (FIA) and the Credit Union Incorporation Act (CUIA). The changes are aimed at modernizing the legislative framework, better protecting consumers and helping to maintain public confidence in the province’s financial institutions. The proposed amendments to North America
October 20, 2019
Financial Stability Board reports on Market Fragmentation
Financial Stability Board (FSB) has updated on its work on market fragmentation. In its earlier update, in June 2019, the FSB had identified four key areas to address market fragmentation. The areas are deference, pre-positioning of capital and liquidity, regulatory and supervisory coordination and information-sharing, and market fragmentation Other