UK FRC takes the reins on audit
The UK’s Financial Reporting Council (FRC) is on course to significantly strengthen its oversight of audit.
Items tagged with "Supervision"
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Effective analysis for identifying structural weaknesses in banks
A recent FSI Insights paper from the Financial Stability Institute considers supervisory practices for assessing the sustainability of banks’ business models.
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Updating Europe’s regulatory and supervisory framework for the digital age
How should the EU’s financial regulatory and supervisory framework evolve to remain fit for purpose?
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EBA and ESMA consult on SREP framework
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have launched a public consultation on their draft Guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP).
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Basel Committee revises disclosures on market risk and sovereign exposures
Recent announcements by the Basel Committee on Banking Supervision will be of note for those interested in disclosures within the Basel Framework for prudential regulation of banks.
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Verena Ross to take Chair at ESMA
The European Securities and Markets Authority (ESMA) has announced the appointment of its next Chair. Ms Verena Ross will take up the role on 1 November 2021.
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EBA launches 2021 EU-wide transparency exercise
The European Banking Authority (EBA) has launched its annual transparency exercise, as announced in March. As the EBA observes, this is based entirely on supervisory reporting data – powered by XBRL – so the additional burden on banks is minimal.
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SEC committee endorses tighter oversight of SPAC disclosures
In a unanimous recent vote, the Investor Advisory Committee (IAC) of the US Securities and Exchange Commission (SEC) has recommended stricter regulation of special purpose acquisition companies (SPACs).
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BoE demands greater rigour in regulatory reporting
The Bank of England’s financial watchdog, the Prudential Regulation Authority (PRA), has written to company CEOs discussing recent findings on the reliability of regulatory reporting, decrying poor practices, and reiterating its supervisory expectations.
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EIOPA sets out criteria for the independence of supervisory authorities
“The independence of supervisory authorities is crucial for the legitimacy and credibility of the supervisory process,” says the European Insurance and Occupational Pensions Authority (EIOPA) – but how can we decide whether authorities are in fact free from conflicts of interest and undue external influence on supervisory decisions?
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