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FS Regulatory Developments - March 2017

FS Regulatory Developments - March 2017

The continuing global political uncertainty will affect the course of future regulatory developments, as is already evident from the continuing delay in finalising the Basel IV reforms where both the January and March deadlines have passed without the Basel Committee reaching agreement. But on a ‘business as usual’ level, we keep this month’s focus on evolving existing EU regulation, where nearer term milestones need to be met.


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In insurance, in spite of a recognition of market stability with the release of its risk dashboard, the annual report of EIOPA to the European Parliament on the functioning of supervisory colleges in 2016 identified a surprising finding that there are a number of non-EEA parented groups for whom there is no group supervision undertaken – neither at worldwide nor EEA level. We take a look at the implications of this. We also look at a major consultation paper released International by Association of Insurance Supervisors (IAIS) covering proposed revisions to a number of IAIS Insurance Core Principles (ICPs).

The investment management sector hasn’t seen any major developments this month but on a broader level, we point you to a contribution in Investment Week with Julie Patterson, Investment Management Director for the Centre of Excellence. Julie takes a closer look at the challenges for European regulators to bring about a consistency of approach.

We look at the European Banking Authority’s (EBA) review of the recovery plans of 23 European banking groups, with the parent banks located in 12 EU countries, which has identified some areas of concern. The Basel Committee has released a monitoring report on meeting Basel III requirements which includes an analysis of the potential impact on global systematically important banks of the requirement to hold a minimum of total loss absorbing capacity (from 2019).

As we enter spring we will watch with interest as the shifting political scene is revealed, and in the meantime, continue to ‘get on with the day job’.

March 2017 edition

  • Will recovery and resolution requirements be applied to insurers?
  • Lessons arising from the first year of Solvency II college meetings
  • EIOPA's risk assessment of the EU insurance industry 
  • Basel 3 monitoring exercises
  • EBA review of banks’ recovery plans
  • Impact of revised market risk framework
  • Capital markets union – tackling national barriers to investment 
  • Investment Management Regulatory Insights
  • PSD2: EBA defines a clear path to authentic and secure communications
  • Capital Markets Union – mid-term review and the Brexit effect 

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