Events listed in information
HKSAR Government’s response to Moody’s announcement of change to Hong ...
ID 26097
On December 6, 2023, the rating agency Moody’s announced that it will change Hong Kong’s credit outlook from „stable“ to „negative“ while maintaining Hong Kong’s long-term issuer rating at „Aa3“, recognizing the city’s robust credit strengths, fiscal buffers, and significant reserves. In response to this announcement, the spokesman of the Hong Kong government publicly stated his disappointment about the negative outlook. I ...
FCA update on cash savings – December 2023
ID 26095
Further to the latest update as regards the practices of banks and building societies concerning the (low) interest rates they are paying on saving accounts despite a „high“ base rate (EventID 24273), the Financial Conduct Authority (FCA) has published another statement in this matter. In it, the FCA provides some detailed statistical data on the interest paid by supervised banks and building societies on ...
MAS Publishes Code of Conduct for Providers of Environmental, Social, and ...
ID 26094
Following the launch of a public consultation on a voluntary „Code of Conduct (CoC)“ for ESG rating and data providers to implement a first set of business standards to adhere to in July this year (please see EventID 21931 in this context for more information), the Monetary Authority of Singapore, MAS, has published a corresponding consultation response. In it, MAS briefly summarizes the responses ...
Financial watchdog sets out credit information market improvements
ID 26091
The Financial Conduct Authority, FCA, has published a final report as regards its market study on the credit information market. This report builds upon the interim report and discussion paper published in November 2022 (EventID 18382) and presents a comprehensive overview of the findings and feedback received on various aspects of the credit information market. The final report thereby addresses issues such as governance, ...
Regulatory Notice 23-20
ID 26090
The Financial Industry Regulatory Authority (FINRA) has issued a new Regulatory Notice (23-20) to inform of available resources and guidance for broker-dealers and investment advisers in complying with the Securities and Exchange Commission’s Regulation Best Interest (Reg BI) which requires broker-dealers to act in the best interest of their clients when recommending any particular investments or investment strategies. Specifically, under Reg BI, broker-dealers are ...
FG MaRisk: Protokoll der virtuellen Sitzung vom 01. März 2023
ID 26084
Die BaFin veröffentlichte ein Protokoll der Sitzung des Fachgremiums Mindestanforderungen an das Risikomanagement (FG MaRisk) vom 1. März 2023. Diese Sitzung konzentrierte sich insbesondere auf die Diskussion und Erörterung der Änderungen, die mit der 7. MaRisk-Novelle eingeführt wurden. Eine bedeutende Diskussion drehte sich um den Vorschlag des DIIR zur Anpassung der Regelungen bezüglich des Prüfungsturnus der Internen Revision. Der Vorschlag zielte darauf ab, im ...
Haiti: New consolidated version: Council Regulation (EU) 2022/2309 concerning ...
ID 26078
A new consolidated version of Council Regulation (EU) 2022/2309 as regards sanction measures „in view of the situation in Haiti“ was published in the Official Journal (OJ) of the EU. The consolidated version contains amendments made by Council Implementing Regulation (EU) 2023/2573 which updated the records of an already sanctioned individual set out in Annex I of the 2022 Regulation. Please refer to EventID ...
Türkiye: New consolidated version of Council Regulation (EU) 2019/1890 concerning ...
ID 26077
A new consolidated version of Council Regulation (EU) 2019/1890 as regards asset freezing measures targeted at persons, entities, or bodies involved in or providing (financial) support to „unauthorized drilling activities in the Eastern Mediterranean“ was published in the Official Journal (OJ) of the EU. The consolidated version contains the amendment made by Council Regulation (EU) 2023/2507 which replaced the title of the 2019 Regulation. ...
VAT: New consolidated version of Council Directive 2006/112/EC on the common system ...
ID 26073
A new consolidated version of Council Directive 2006/112/EC, the VAT Tax Directive, was published in the Official Journal (OJ) of the EU. The Directive includes recent amendments made by Council Directive (EU) 2020/284 which imposes new tax-related obligations on payment service providers with respect to recordkeeping and reporting of cross-border transactions with the aim to prevent VAT tax fraud and evasion. These obligations will ...
Korea: New consolidated version of Council Regulation (EU) 2017/1509 concerning ...
ID 26072
A new consolidated version of Council Regulation (EU) 2017/1509 relating to sanction measures directed against the Democratic People’s Republic of Korea primarily for its engagement in the production of weapons of mass destruction was published in the Official Journal (OJ) of the EU. The Regulation contains amendments to Annex XIII, Annex XV, and Annex XVI – each including lists of sanctioned persons, entities, and ...