Regulatory Changes for Financial Institutions

Recent regulatory changes for financial institutions that impact reporting in your region — highlighted by AxiomSL’s subject-matter experts.

North America

Financial Stability Board (FSB)

December 16, 2021 - The FSB issued a report on global trends, risks in non-bank financial intermediation (NBFI).

Bank for International Settlements (BIS)

December 16, 2021 - The Basel Committee for Banking Supervision (BCBS) issued a paper “Building Benchmarks Portfolios with Decreasing Carbon Footprints” 

Federal Reserve Board (FRB)

December 15, 2021 – December 21, 2021 - The report sets out adoption status of Basel III standards as of end-September 2021.

BCBS – Issued progress report on Basel III implementation.

October 14, 2021 - The report sets out adoption status of Basel III standards as of end-September 2021.

SEC – Form ID For EDGAR Access

October 12, 2021 - SEC requested comment on proposal to extend, revise Form ID information collection. 60-day notice to request comment; plan to submit to OMB for extension and revisions.

SEC – Responses to Frequently Asked Questions Regarding Financial Responsibility Requirements as Applied to Security-Based Swap Activities of Broker-Dealers and Security-Based Swap Dealers.

October 8, 2021 - No objection if B/D or B-D/SBSD that obtained no-lien letter from bank under 17 CFR 240.15c3-3 does not get new letter if existing letter legally sufficient to cover excess securities collateral of SBS customers...

SEC – Adoption of Updated EDGAR Filer Manual – Form ID Amendments

October 7, 2021 - The SEC is adopting amendments to Volumes I and II of the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR) Filer Manual and related rules and forms....

BCBS – CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements

October 6, 2021 - CPMI and IOSCO published guidance, called for comments on stablecoin arrangements....

FDIC – Instructions related to Consolidated Reports of Condition and Income for Third Quarter 2021

October 4, 2021 - FDIC issued Letter FIL-68-2021 and materials regarding the Q3 2021 Consolidated Reports of Condition and Income (Call Report) for the September 30, 2021, report date....

DRAFT-FR 2644

October 1, 2021 - Weekly Report of Selected Assets and Liabilities of Domestically Chartered Commercial Banks and U.S. Branches and Agencies of Foreign Banks....

More Updates

Europe, the Middle East and Africa

Financial Stability Board (FSB)

December 16, 2021 - The FSB issued a report on global trends, risks in non-bank financial intermediation (NBFI).

Bank for International Settlements (BIS)

December 16, 2021 - The Basel Committee for Banking Supervision (BCBS) issued a paper “Building Benchmarks Portfolios with Decreasing Carbon Footprints” 

BCBS – Issued progress report on Basel III implementation.

October 14, 2021 - The report sets out adoption status of Basel III standards as of end-September 2021.

Germany – Updated Law to Ward Off Tax Avoidance

August 10, 2021 – Germany –...

Bundesbank Updates Anacredit Technical Documents

Aug 06, 2021 -The Bundesbank updated AnaCredit technical documents which will come into force from 01 February 2022.....

Isle Of Man FATCA And CRS – Updated Guidance On Penalty Provisions

Jun 22, 2021 - Isle Of Man FATCA And CRS – Updated Guidance On Penalty Provisions...

United Arab Emirates FATCA And CRS – Codes To Populate Missing US TINs

Jun 21, 2021 - United Arab Emirates FATCA And CRS – Codes To Populate Missing US TINs...

Germany FATCA And CRS – Updated List Of Reportable Jurisdictions

Jun 21, 2021 - Germany FATCA And CRS – Updated List Of Reportable Jurisdictions...

Luxembourg FATCA – New Code For Missing US TIN

Jun 7, 2021 - Luxembourg FATCA – New Code For Missing US TIN...

Cayman Islands FATCA and CRS Reporting Reminders

Jun 3, 2021 - Cayman Islands FATCA and CRS Reporting Reminders...

More Updates

Asia Pacific

Financial Stability Board (FSB)

December 16, 2021 - The FSB issued a report on global trends, risks in non-bank financial intermediation (NBFI).

Bank for International Settlements (BIS)

December 16, 2021 - The Basel Committee for Banking Supervision (BCBS) issued a paper “Building Benchmarks Portfolios with Decreasing Carbon Footprints” 