FS regulatory, accounting and audit bulletin - 5th edition 2013

Being better informed

We are now into the second quarter of 2013, and the pace of new regulatory developments and publications continues relentlessly. The Basel Committee published a progress report on how countries are getting on with implementing Basel II and Basel III. The report is positive, noting many countries have either implemented Basel III or are taking steps to implement Basel III in the near future (e.g. CRD IV in Europe). In other developments:

  • The Financial Stability Board published a progress report in April, looking at how countries are getting on with reforming the global derivatives market.
  • The International Organisation of Securities Commissions published a consultation looking at how retail structured products are regulated.
  • Money market funds (MMFs) were a focus of the European Securities and Markets Authority (ESMA) in April when it published its peer review, which focuses on how Member States have implemented guidelines on MMFs and how they supervise MMFs.
  • The Executive Board of the International Monetary Fund (IMF) concluded on 1 May 2013 the Article IV consultation with The Netherlands.
  • The Dutch Central Bank issued a Statistical News Release in May showing  that Dutch money market funds remain limited in size.

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