ImplementationofG20FSBfinancialreformsinother(non.pdfVIP

1 28 October 2016 Implementation of G20/FSB financial reforms in other (non-priority) areas Summary of key findings based on the 2016 FSB Implementation Monitoring Network (IMN) survey Introduction This note summarises the status of implementation of G20/FSB reforms in areas not designated as priority under the FSB Coordination Framework for Implementation Monitoring.1 These are: I. Hedge funds (recommendations 1-3) II. Securitisation (recommendations 4-6) III. Enhancing supervision (recommendations 7-10) IV. Building and implementing macroprudential frameworks and tools (recommendations 11-12) V. Improving oversight of credit rating agencies (recommendations 13-14) VI. Enhancing and aligning accounting standards (recommendation 15) VII. Enhancing risk management (recommendations 16-17) VIII. Strengthening deposit insurance (recommendation 18) IX. Safeguarding the integrity and efficiency of financial markets (recommendations 19-21) X. Enhancing financial consumer protection (recommendation 22) The findings are based on self-reporting by FSB jurisdictions to the seventh annual IMN survey as of end-July 2016.2 The write-up for each area explains the recommendation; describes its application and overall status; and provides jurisdiction-specific information on recent developments. The analysis for recommendations that pertain to securities markets (#1-3, 5-6, 13, and 19-20) was carried out by the International Organization of Securities Commission (IOSCO), and additional information on progress in those areas can be found in a separate report by IOSCO. While an effort has been made to ensure completeness and uniformity in reporting, as per previous practice with this report, neither the IMN nor IOSCO have undertaken an evaluation of responses to independently verify the status or assess the effectiveness of implementation. A number of these areas are complex and summaries of their implementation status should be treated with cau