Events listed in Banks
The EBA provides guidance on the benchmarking of diversity practices under the ...
ID 26330
EBA has issued final Guidelines on benchmarking of diversity practices, including diversity policies and gender pay gap under CRD and IFD and a Decision on supervisory reporting on diversity benchmarking. The guidelines aim to increase transparency, data quality, and awareness regarding diversity and gender equality within financial institutions. The scope includes institutions and investment firms that are obligated to furnish data on the diversity ...
Beneficial Ownership Transparency Act, 2023 (LG41, S1)
ID 26328
Following the removal of the Cayman Islands from the Financial Action Task Force’s (FATF) grey list in 23 November 2023, the Cayman Islands published the Beneficial Ownership Transparency Act, 2023 to advance its AML and CFT framework. Besides several amendments and improvements, the new law consolidates the beneficial ownership rules of the Companies Act, the Limited Liability Companies Act and the Limited Liability Partnerships ...
ESMA consults on potential changes to the CSDR penalty mechanism
ID 26326
ESMA has initiated a consultation on potential modifications to the penalty mechanism outlined in the CSDR. The CSDR, established in 2014, aims to enhance securities settlement in the EU and regulate central securities depositories. Settlement fails, where transactions are not completed as intended, are addressed through reporting requirements, cash penalties, and mandatory buy-ins under the CSDR. ESMA’s consultation, open until 29 February 2024, seeks ...
SR 23-10
ID 26325
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FED), and the Federal Deposit Insurance Corporation (FDIC) issued a revised interagency statement titled Extension of the Revised Statement Regarding Status of Certain Investment Funds and their Portfolio Investments for Purposes of Regulation O and Reporting Requirements under Part 363 of FDIC Regulations (SR23-10). The statement ...
CFTC Seeks Public Comment on Proposed Rule to Amend Capital and Financial Reporting ...
ID 26324
The Commodity Futures Trading Commission (CFTC) has published a press release to inform of the launch of a consultation as regards revisions to the financial reporting obligations of Swap Dealers (SDs) and Major Swap Participants (MSPs). The Commission thereby primarily seeks to ease financial reporting burdens on SDs and MSPs and clarify existing obligations following the implementation of these requirements in 2020 and subsequent ...
United Nations Sanctions (Central African Republic) Regulation 2020 (Amendment) ...
ID 26321
On December 15, 2023, the Hong Kong government published a press release to announce the gazettal of the United Nations Sanctions (Central African Republic) Regulation 2020 (Amendment) Regulation 2023 which came into force on same day. The regulation amends the United Nations Sanctions (Central African Republic) Regulation 2020 „to give effect to certain decisions relating to sanctions in the United Nations Security Council Resolutions ...
FCA 2023/47: Handbook Administration (No 68) Instrument 2023
ID 26320
On December 15, 2023, the Financial Conduct Authority (FCA) has published a new FCA instrument, namely the Handbook Administration Instrument (No 68) 2023 (FCA 2023/47), to make minor, non-material changes to the FCA Handbook. Specifically, the instrument modifies the following manual and sourcebooks: – Conduct of Business sourcebook (COBS) – Insurance: Conduct of Business sourcebook (ICOBS) – Mortgages and Home Finance: Conduct of Business ...
[ESMA35-43-349 ] Q&As on MiFID II and MiFIR investor protection topics
ID 26319
ESMA has published an updated version of its Questions and Answers (Q&A) on MiFID II and MiFIR investor protection and intermediaries topics. The latest version includes following changes – as quoted (with tracked changes): ___ #### Information on costs and charges: **Question 13 (amended): When providing information of costs and charges to clients, on which basis should costs be aggregated? What is the level ...
Stanowisko KNF dotyczące jednolitych zasad stosowania punktu 20. rekomendacji U
ID 26318
In June 2023, KNF has released good practices within Recommendation U (see eventid=21895). This article is an explanation on KNF’s stand for point 20 from Recommendation U, which states that KNF expects the insurance products sold to the client to be adequate to their needs, while the service price will be dependent on the actual interest of the client and the value of the ...
Bedeutung des Verhandlungsmandats Schweiz-EU für den Schweizer Finanzplatz
ID 26314
Die SBVg begrüßt die Verabschiedung des Verhandlungsmandats zwischen der Schweiz und der EU als einen positiven Meilenstein in der Stabilisierung und Weiterentwicklung der Beziehungen. Besonders erfreulich für den Schweizer Finanzplatz ist die Wiederaufnahme des Regulierungsdialogs im Finanzbereich, um die Exportfähigkeit von Bank- und Wertpapierdienstleistungen aus der Schweiz in die EU zu verbessern. Die SBVg wird sich im Rahmen dieses Dialogs für den “institutsspezif ...