On 6 August 2015, the Hong Kong Monetary Authority (HKMA) issued an updated version of Supervisory Policy Manual module CA-D-1: Guideline on the
2014 was another busy year for regulatory change for the financial services sector, and it appears that this pace is set to continue in 2015. Below
Welcome to our May edition of Legalseas where we continue to consider a series of topical issues for the shipping industry.
Under the accelerated implementation timeframe previously announced by the Australian Prudential Regulatory Authority, the Basel III capital reforms applicable to authorised deposit-taking institutions will progressively come into effect from 1 January 2013.
Over the last two weeks, long awaited Australian and international regulatory reforms have been announced by the Australian Government, the Basel Committee on Banking Supervision, the Reserve Bank of Australia and the Australian Prudential Regulation Authority which will have significant impacts on the financial services industry in Australia.
At a meeting on September 12, 2010, the oversight body of the Basel Committee on Banking Supervision (the "Basel Committee"), announced the calibration of a revised capital framework ("Basel III") for major banking institutions, as well as the transition and phase-in roadmap for the revised capital rules.