FSB’s Task Force on Climate-related Financial Disclosures publishes phase 1 report. The Financial Stability Board’s Task Force on Climate-related Financial Disclosures published its phase 1 report, which provides an overview of existing climate-related disclosure regimes as well as proposals for the scope and principles that should be applied to the Task Force’s final recommendations. The report found that climate-related disclosure is currently incomplete with only a limited number of reporting regimes requiring the disclosure of such risks in financial filings. (5/13/2016) FSB press release.
IOSCO reviews global challenges to securities markets at Lima conference.IOSCO published an overview of the private meetings of the IOSCO Board, the Growth and Emerging Markets Committee, the four regional Committees, and the Affiliate Members Consultative Committee at IOSCO’s Annual Conference. Among other matters, the IOSCO Board and committees discussed and approved an Enhanced Multilateral Memorandum of Understanding on cooperation and the exchange of information that will allow regulators to obtain and share audit papers, existing telephone records, and existing Internet service provider records. (5/11/2016) IOSCO press release.
ISDA report on cross-border fragmentation of global interest rate derivatives.In its most recent Research Note on the cross-border fragmentation of interest rate derivatives, the International Swaps and Derivatives Association found continued fragmentation in the market for global interest rate swaps, especially in euro-denominated interest rate swaps. (5/10/2016) ISDA report.
ISDA seeks effective global policy on cybersecurity, data and technology.ISDA, along with the European Banking Federation and the Global Financial Markets Association, published a report that establishes a set of principles for encouraging effective global policy measures on cybersecurity, data and technology. (5/9/2016) ISDA press release.
IOSCO report on impact of storage and delivery infrastructure on commodity derivatives market pricing. IOSCO published a report that details the findings of its review of the impact of storage infrastructures on the integrity of the price formation process of physically-delivered commodity derivatives contracts traded on regulated exchanges. IOSCO plans to develop guidance regarding good or sound practices regarding the operation and oversight of storage information to address concerns identified during the review that could affect derivatives pricing and efficient market operation. (5/9/2016) IOSCO press release.
ISDA launches Resolution Stay Jurisdictional Modular Protocol. ISDA released the ISDA Resolution Stay Jurisdictional Modular Protocol to help market participants comply with regulatory changes focused on the cross-border enforceability of stays on contractual termination rights. (5/5/2016) ISDA press release.