IBFed responds to IASB Agenda Consultation -30/11/11
IBFed has responded to the IASB's Agenda Consultation 2011. read more
IBFed responds to the FSB on a common template for G-SIBs - 14/11/11
IBFed has responded to the FSB Consultation entitled "Understanding Financial Linkages: A Common Data Template for Global Systemically Important Banks." read more
IBFed writes to G20 - 19/10/11
IBFed wrote to a number of senior figures ahead of the G20 summit to be held in Cannes in November. read more
IBFed responds to the FATF Fourth Round of Mutual Evaluations paper -20/09/11
IBFed has responded to the second public consultation from the Financial Action Task Force (FATF) on the Fourth Round of Mutual Evaluations. read more
Trade Association Letter on Legal Entity Identifier - 12/09/11
IBFed has joined fourteen trade associations in writing to the G20 Finance Ministers to update them on the industry's contribution to the global effort to develop a uniform and global legal entity identifier (LEI). read more
IBFed responds to FSB consultative document on effective resolution of SIFIs -05/09/11
IBFed has responded to the consultative document on the Effective Resolution of Systemically Important Financial Institutions, published by the Financial Stability Board (FSB). read more
IBFed responds to the OECD on consumer protection -31/08/11
IBFed has responded to draft High-level Principles on Financial Consumer Protection, published by the OECD. read more
IBFed responds to Basel consultative document on G-SIBs -26/08/11
IBFed has responded to the Basel Committee’s Consultative Document "Global systemically important banks: Assessment methodology and the additional loss absorbency requirement". read more
IBFed responds to IFRS Foundation Trustees’ Strategy Review -09/08/11
IBFed has provided its views to the IFRS Foundation on the Trustees’ Strategic Review. read more
High frequency trading -02/08/11
IBFed has given IOSCO its reflection on high frequency trading (HFT). read more
IBFed responds to CPSS-IOSCO consultative report on “Principles for FMIs” - 29/07/11
IBFed has responded to the CPSS-IOSCO consultative report from the perspective of participants in financial market infrastructures (FMIs). read more
IBFed responds to IOSCO on the role of securities regulators in systemic risk mitigation -15/07/11
IBFed has given IOSCO its reflection on their discussion paper "Mitigating Systemic Risk - A Role for Securities Regulators". read more
IBFed responds to the FSB on shadow banking -11/07/11
IBFed has responded to a background note on shadow banking, which was published by the Financial Stability Board (FSB). read more
IFRS Monitoring Board Consultative Report on the Governance Review - 11/05/11
IBFed has responded to an IFRS Monitoring Board Consultative Report on its Review of the governance of the IASB. In the response to the IFRS Foundation, IBFed commented on the importance of the governance framework to ensure that the IASB’s standards meet broader policy imperatives and to ensure that due process is appropriately designed and followed in practice. Also, IBFed underlined the need for the conclusions of the Monitoring Board review to be consistent with the Trustees strategic review and vice versa. read more
IBFed Comments on FATF Project on Financial Inclusion – 20/4/11
The IBFed has responded to the FATF First Draft Guidance Paper on Financial Inclusion. In responding, IBFed expressed its support for the project that intended to help bring individuals and entities into the supervised and regulated financial system while simultaneously eliminating the need for a black market economy. IBFed also underlined the need for domestic authorities to take the final steps to adapt the FATF guidance to ensure individuals and entities are included in the financial system. IBFed will continue to work with FATF as the project moves forward. read more
Corporate bond markets in emerging markets – 18/04/11
IBFed has given IOSCO its reflections on corporate bond markets in emerging markets. In doing so, IBFed suggested policy makers focus on the following issues: (1) Deepening of ongoing legal and tax reforms and improvements in financial reporting and information disclosure standards to successfully enhance investors’ protection and participation in the capital markets; (2) Further removal of obstacles to the participation of institutional investors in corporate bond markets and the promotion of the participation of retail investors in capital markets through local collective investment schemes; (3) Further deployment of actions to boost market demand in corporate bonds by means of “retailing” such investments, notably through investor education and institutional modernisation; and (4) Strengthening of property rights and policies which promote macroeconomic stability and stability of exchange rates. IBFed will continue to engage with the policy makers on this subject. read more
IBFed writes to FSB – 12/04/11
IBFed has written to the Financial Stability Board (FSB) setting out thoughts on the current status of the implementation of the G20 regulatory reform agenda. In the letter, IBFed offers support for the overarching objectives of the regulatory reform programme and the continuing efforts of the FSB to coordinate its implementation. We call for the FSA to prioritise work on those reforms most important for near-term financial stability. The letter also welcomes the FSB’s efforts to promote consistent implementation of standards via its programme of peer reviews and thematic reviews, noting that level playing field is vital to prevent regulatory arbitrage. read more
IBFed writes to G7 on FATCA – 12/04/11
IBFed member associations wrote to their national tax authorities to ask that the US Foreign Account Tax Compliance Act be included on the agenda of G7 in April. In the letter, the members explained that whilst they understood the objective of FATCA, they were concerned about the difficulty of complying with a law which conflicts with domestic requirements. IBFed will be continuing to engage on this issue. read more
IBFed responds to Basel consultative document on Operational Risk – 12/04/11
IBFed has responded to consultative documents from the BCBS regarding operational risk: the Sound Practices for the Management and Supervision of Operational Risk, and Operational Risk – Supervisory Guidelines for the Advanced Measurement Approaches. In the response to the Sound Practices consultation, IBFed offered three recommendations to enhance the paper: (1) Include a specific supervisory expectation that financial regulatory agencies should take into account the nature, size, complexity and risk profile of a bank when evaluating its implementation of the operational risk principles; (2) Avoid process-driven board directives in the operational risk principles and do not require the board to take on roles that may detract and conflict with the board’s strategic oversight responsibilities; and (3) Ensure that all principles included in the paper are risk-based and not prescriptive. In the letter commenting on the Supervisory Guidelines, IBFed welcomed the efforts of the Basel Committee’s Standards Implementation Group to develop consistent practices for measurement of operational risk and provided technical contributions to enhance the utility of the guidelines. read more
Suitability Requirements for Market Intermediaries in Relation to Investors - 11/03/11
IBFed, The Institute of International Finance, and The Joint Associations Committee on Retail Structured Products ('the Associations') have jointly written to IOSCO on the Suitability Requirements for Market Intermediaries in Relation to Investors. read more