Events listed in regulation
Agencies issue final rule to strengthen and modernize Community Reinvestment Act ...
ID 25477
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) have announced their final rule to make large scale modifications to rules and regulations under the Community Reinvestment Act (CRA). The final rule comes after a corresponding consultation of the regulators in 2022 (EventID #15781) and the cancellation ...
Council Regulation (EU) 2023/2406 of 23 October 2023 concerning restrictive ...
ID 25471
New Council Regulation (EU) 2023/2406 as regards „restrictive measures in view of the situation in Niger“ was published in the Official Journal (OJ) of the EU. The new regulation sets out an entirely new sanctions framework for activities that undermine democracy, the rule of law, and the peace and stability in the country and / or that „constitute serious human rights violations or abuses ...
PS13/23 – Updating UK Technical Standards on the identification of global ...
ID 25462
On October 24, 2023, the Bank of England (BoE) released a policy statement (PS13/23 as regards the update of UK technical standards on the identification of Global Systemically Important Institutions (G-SIIs). This statement follows a corresponding consultation earlier this year in which the Bank, or better its Prudential Regulation Authority (PRA), sought changes to the standards to align the UK’s approach with the changes ...
PS9/23 – Remuneration: Ratio between fixed and variable components of total ...
ID 25453
Following a corresponding consultation earlier this year (EventID 19015), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have published their final joint policy statement as regards the removal of the bonus cap, that is the maximum incentive that may be paid to material risk takers of banks, building societies, and PRA-designated investment firms. To recall, based on scientific evidence, both regulators ...
Mortality Tables for Determining Present Value Under Defined Benefit Pension Plans
ID 25420
New rules as regards the mortality tables to be used by defined benefit pension plans were recently published in the Federal Register. The rules provide – an updated methodology for determining mortality tables used to calculate the present value of pension benefits to derive future funding needs and to determine single-sum distributions. This revised methodology includes new base mortality tables and mortality improvements. The ...
Reportable situations regime: ASIC modifies licensees’ obligations
ID 25406
ASIC has introduced ASIC Corporations and Credit (Amendment) Instrument 2023/589, which modifies the reportable situations regime for licensees. This modification exempts licensees from submitting notifications about certain reportable situations starting from 20 October 2023. The reportable situations regime requires AFS licensees and Australian credit licensees to automatically inform ASIC about specific reportable situations. These situations include breaches of ‚cor ...
SEC Adopts Rule to Increase Transparency in the Securities Lending Market
ID 25332
Following a corresponding consultation in November 2021 (EventID 13225), the U.S. Securities and Exchange Commission (SEC) has now published its final rule as regards the reporting of security lending transactions to a registered national securities association (RNSA), with the Financial Industry Regulatory Authority (FINRA) currently being the only RNSA in the United States. #### Background To recall, in an effort to bring about more ...
SEC Adopts Rule to Increase Transparency Into Short Selling and Amendment to CAT ...
ID 25330
The U.S. Securities and Exchange Commission (SEC) has published a press statement to inform of the finalization of new rules regarding short sales reporting – particularly of institutional fund managers – and new rules regarding certain data submissions and recordkeeping of broker-dealers in the context of short sales activities. The final rules follow a corresponding consultation in 2022 (EventID 14622), and will – so ...
Commission Implementing Regulation (EU) 2023/2185 of 11 October 2023 amending ...
ID 25301
Commission Implementing Regulation (EU) 2023/2185 relating to sanction measures in connection with Iraq has been published in the Official Journal (OJ) of the EU. The regulation amends the list of sanctioned natural and legal persons, entities and bodies associated with the regime of former President Saddam Hussein as set out in Annex IV to Council Regulation (EC) No 1210/2003. **The Implementing Regulation thereby removes ...
Council Regulation (EU) 2023/2147 of 9 October 2023 concerning restrictive measures ...
ID 25291
New Council Regulation (EU) 2023/2147 as regards sanction measures „in view of activities undermining the stability and political transition of Sudan“ was published in the Official Journal (OJ) of the EU. The new regulation sets out an entirely new sanctions framework for activities that facilitate the fight between paramilitary groups and government military forces in Sudan, thereby violating human rights laws or engaging in ...