Tag: IOSCO

IOSCO

Basel Committee, IOSCO Agree to One Year Delay on Margin Rules

The Basel Committee on Banking Supervision and the International Organization of Securities Commissions (IOSCO) have announced a one year delay to the final phase of the implementation of the margin requirements for non-centrally cleared derivatives. The two bodies say they acknowledge the progress that has been made to implement the framework, the final phase of […]

FSB Report Sounds Warning on Fragmentation

A report issued this week by the Financial Stability Board (FSB) warns that differences between regional and national regulation is heightening the risk of market fragmentation, thus making it harder for global regulators to monitor markets and for global market participants to operate efficiently across borders. The report states, “Differences in rule-making could lead to […]

FSB Publishes Conduct Risk Mitigation Toolkit

The Financial Stability Board has published Strengthening Governance Frameworks to Mitigate Misconduct Risk, which provides a toolkit that firms and supervisors can use to tackle the causes and consequences of misconduct.
The toolkit completes an element of the FSB’s 2015 Workplan on Measures to Reduce Misconduct Risk to promote incentives for good behaviour through standards and codes of behaviour, such as the FX Global Code, and reforms to benchmark-setting practices. It also offers a toolkit of measures to address misconduct in wholesale markets and the FSB’s guidance on the use of compensation tools to promote good conduct.

Regulation Forces FXPBs to Reinvent

It’s no secret that recent regulatory requirements have put FXPB business models under increased pressure. But some firms also see regulation as an opportunity to change how their businesses operate in order to win new business, as Galen Stops reports.

When questioned about the extent to which a combination of the Basel III regulations and the SNB
event had caused a contraction in the FXPB space, there was some pushback from certain service providers.

“I think that there’s a misperception that there has been a wholesale contraction in the FXPB space,” says John O’Hara, global head of FXPB and FX clearing at Societe Generale.

CCP Risk, Resolution, Recovery Back in the Spotlight

Three papers have been released focusing on central counterparty (CCP) risk and how CCPs should be resolved or recovered in the event of a failure. The Committee on Payments and Market Infrastructures (CPMI) together with the International Organisation of Securities Commissions (Iosco) has issued a consultative report providing further guidance on certain aspects of the […]

FEMR Implementation Report Sees “Significant Progress”

The past year has seen “significant progress” in the implementation of the Fair and Effective Markets Review (FEMR) recommendations; however, “the job is far from being done” as a “lack of trust in financial markets” remains and the focus is now on companies and individuals to address issues, according to an implementation report issued today […]