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Governance and supervision

Governance and supervision

Many of the problems in the Financial Services industry point to the need for significant upgrade in governance and risk management. Supervisors are increasingly turning their attention to risk culture and gaining a better understanding of how boards and management can more effectively manage their strategic and operational risks. Many of the problems still prevalent point to a need to upgrade significantly the governance and risk management at firms. Much work is already underway, but much more needs to be done. As firms get to grips with their business strategy, risk appetite, risk culture and management, they will need radically different management information which only significant investments in core and critical systems, as well as emerging analytic technologies, will provide.

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2017

29 November - EBA final guidelines on supervision of significant branches

29 November - European Commission sets out its regulatory stall

29 November - EBA 2018 stress test

28 November - FSB on artificial intelligence

30 October - Europe’s regulatory priorities

30 October - EU-US reach agreements on the treatment of derivative transactions

30 October - Non-performing exposures: timely provisioning and write-offs

30 October - EBA publishes final Guidelines on Internal Governance

31 October - Scrutiny of corporate behaviour increases

29 September - EU Financial Supervision to be strengthened

16 August - IOSCO consults on liquidity risk management in investment funds

16 August - Detailed requirements for the PRIIP KID begin to emerge

27 July - The pan-European Personal Pension is unveiled

27 July - ESMA comments further on relocation principles and third countries

27 July - EIOPA Opinion regarding Brexit activities

26 Jun - ESMA seeks a consistent regulatory approach to Brexit relocation activity

30 May - Strengthening financial supervision in Europe

30 May - Cross-sectoral conflicts of interest – latest EIOPA review

30 May - FSB thematic review of Corporate Governance

30 May - ESMA tackles national notification barriers

27 Apr - More stress tests for UK banks

27 Apr - Step-in risk

27 Apr - Pillar 3 disclosures: completion of stage 2

21 Mar - Will recovery and resolution requirements be applied to insurers?

21 Mar - Lessons arising from the first year of Solvency II college meetings

27 Feb - ESMA calls for overhaul of EU “third country” framework

2015

28 Jul - ESMA’s final MiFID II/MiFIR Technical Standards provide administrative clarity for third country firms

28 Jul - Fees and expenses for investment funds – IOSCO contributes to the transparency debate

28 Jul - ESA consultation delves into technical methodologies for PRIIP disclosures

28 Jun - What does more intensive supervision look like?

30 Jan - Pillar 2 capital requirements bite harder

2014

15 Dec - Resolution funds – the funding model emerges

15 Dec - UCITS: Management Companies and Depositaries in the same group will have to evidence independence

13 Dec - Standardised approach for credit risk: almost back to where we started

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