XML Submissions Transformation Program to Go Live in 2023
View Legal Terms API-Based Submissions Transformation Program to Go Live in June 2023 New Central Bank FRP v15 initiatives that streamline information gathering and processing from all financial institutions in the Philippines As regulators strive to keep pace with technological advancements, the data transmission process between financial institutions and regulatory bodies is evolving to become […]
Redundancy-free IReF benefits regulators and the regulated
Download PDF View Legal Terms Redundancy-Free IReF Simplification Benefits For Both The Regulator And The Regulated After years of discussion, the European Central Bank (ECB) has settled on a concept, a design, and a timeline for an integrated reporting framework (IReF) that reduces the burden on banks, eliminates the redundancy of submitted information, and simplifies […]
April 2024 EMIR Refit mandates ISO 20022, UPI for messaging
Download PDF View Legal Terms EMIR Refit Mandates ISO 20022 messaging format for both report submitters and TRs by April 2024Just as financial institutions are getting a handle on a raft of trade and transactions rewrites including the quite challenging CFTC Rewrite and regime changes for ASIC, JFSA, and MAS, here comes ESMA with a […]
ESG EU Taxonomy: Operational minefield for credit institutions
Download PDF View Legal Terms The EU Taxonomy An Operational Minefield for Credit Institutions Today, regulators worldwide have added clarity to the burgeoning environmental, social, and governance (ESG) framework by adopting and incorporating regulations that homogenize assessment methods and disclosure requirements. One such framework, Regulation (EU) 2020/852 of the European Parliament and of the Council […]
The APAC Regulatory Landscape
View Legal Terms The APAC Regulatory Landscape 2022 Sets The Stage For Five Big 2023 Developments Even as the world was just emerging after months of global lockdowns in 2022, instrumental changes were taking place in the Asia-Pacific world of regulations, triggering the need for a strategic platform transformation. With all the preparations now in […]
Getting ahead of an avalanche of ESG regulatory requirements
Download PDF View Legal Terms The ESG Landscape — An Avalanche Of Regulatory Requirements Financial institutions are facing unprecedented challenges with the introduction of a host of ESG regulations. Regulators are moving away from the traditional approach to now requiring a combination of financial and non-financial information to assess the credit quality and sustainability of […]
EU Taxonomy: A regional ESG initiative with a global impact
Download PDF View Legal Terms EU Taxonomy A regional ESG initiative with a global impact. As the world grapples with the climate crisis, food scarcity, ocean acidification, among a host of abuses against the planet, corporations have moved from simply reacting to more proactively courting the public’s approval. This shift has led many market participants […]
APRA Comprehensive Data Collection – Granular Data Arrives
Download PDF View Legal Terms APRA Comprehensive Data Collection ADIs Must Run Australia’s Granular-Data Gauntlet The issuance in March 2022 of a discussion paper on the APRA Comprehensive Data Collection program came as no surprise to APRA watchers/and regulated authorized deposit-taking institutions (ADI). The Australian Prudential Regulation Authority has long been voicing its intent to […]
The Basel IV Parallel Run Commences
Download PDF View Legal Terms The Basel IV Parallel Run Commences Switzerland Paves the Way for Europe The Swiss Financial Market Supervisory Authority (FINMA) has set out requirements for selected Swiss entities to begin parallel reporting runs in January 2023. The FINMA and Swiss National Bank (SNB) revisions reflect the final round of the internationally […]
CFTC Rewrite – Avoid a Rocky End to a Long Journey
Download PDF View Legal Terms The CFTC Rewrite – Avoid a Rocky End to a Long Journey. With its long-expected Rewrite (DFA Parts 43 and 45), the CFTC aims to bring the US market into alignment with harmonized critical OTC derivatives data elements. Where this CFTC Rewrite is heading, so follows the EMIR Refit, and […]
Brazil BACEN Resolution 229 Impacts Credit Risk & DLO
Download PDF View Legal Terms BACEN Resolution 229 A credit-risk fine tuning that aligns with BCBS and impacts Brazil’s DLO reporting Effective on January 1, 2023, BACEN’s Resolution 229 poses challenging requirements that impact the way financial institutions currently calculate credit risk and how they report it. In March 2023, all banking segments must include […]
Canada Goes Live with Basel IV Changes
Download PDF View Legal Terms Basel IV: Canada The long-heralded Basel reforms are now just over the horizon for Canada — even without a resolution to the debate as to whether these changes represent a continuation of Basel III or are significant enough to be treated as distinct round of reforms and therefore worthy of […]