Insights
Research, white papers and articles
OSFI Guidelines B-10 and B-13
April 2024
Overview, Compliance Dates, Foreign Branches In-Scope of Guideline Amendments, Regulatory Objectives of Guideline B-10, Regulatory Objectives of Guideline B-13, Third-Party Risk Management Requirements, Technology and Cyber Risk Management Requirements
Increasing Clearing in U.S. Treasuries Regulation
April 2024
Regulation Overview, Regulatory Objectives, Compliance Dates, Summary of the Four Rules Being Amended, Definition of “Eligible Secondary Market Transactions”, Requirement for the Separation of House and Customer Margin, Requirement for Access to Clearing and Monitoring of Compliance
AML/CFT Requirements for Investment Advisors
March 2024
Regulation Overview and Timeline, Summary of Proposed Rule Requirements, Investment Advisors Covered By the Proposed Rule, AML and CFT Programs, Proposed Obligation to File SARs and CTRs Instead of Form 8300, Proposed Recordkeeping Requirements, Special Information-Sharing Procedures to Deter Money Laundering and Terrorist Activity
CVA Risk Framework
March 2024
Purpose and Regulatory Background, Comparison of the Calculation Steps of US FRTB’s Sensitivity-Based Method (SBM) vs Basel IV Standardised Approach, Differences Between SA-CVA and US FRTB-SBM
Continued harmonization with an investor protection focus: CSA MI 93-101 and MiFID II
March 2024
On September 28, 2024, the CSA MI 93-101 Derivatives: Business Conduct will come into effect with a five-year transition period. The instrument sets out a comprehensive framework for regulating conduct within the OTC derivatives market, including providing provisions on fair dealing, suitability among others
Basel IV
March 2024
Regulation Overview, Implementation Dates and Transitional Arrangements, Revisions to the Internal Ratings-Based (IRB) Approaches for Credit Risk, Revisions to the Standardised Approach for Credit Risk, Revisions to the CVA Risk Framework, Operational Risk Framework, Leverage Ratio Framework and Introduction to a New Output Floor
End-of-Life Software
February 2024
What is End-of-Life Software? Risks Involved with using End-of-Life Technology Past its Support Date, End-of-Life Planning: Things to Consider to Mitigate the Risks with End-of-Life Technology, Strategies to Minimize Risks When Operating End-of-Life Software, Important Processes to Follow When Migrating to a New Technology Solution
SEC Rule 192
February 2024
SEC Rule 192 prevents the sale of asset-backed securities (ABS) tainted by conflicts of interest. It prohibits certain transactions for a set time to discourage participants from structuring ABS unfavorably for investors.
Overview and timelines, Rule Requirements: Participants/ Products Affected and Prohibition Period, Prohibited Transactions and Exceptions.
MiFID III
January 2024
Overview and timelines, Recent Amendments to the MiFID Framework for UK, Financial Services and Markets Act 2023, Policy Statement 23/4 on Improving Equity Secondary Markets, European Commission Proposed Amendments for EU, COM(2021)727 Proposal For Amendments to EU No 600/2014, EU Retail Investment Strategy Proposal
SEC Rule 606: Disclosure of Order Routing Information
January 2024
Overview, Regulatory Timelines, Quarterly Report on Order Routing, Requirements for Customer Requests for Order Routing Information, Disclosure to Customers of Execution Venue of Customers Orders, Detailed Disclosure to Customers of Order Handling
Challenges in enhanced reporting: CFTC Rewrite and EMIR REFIT
January 2024
Firms continue to contend with regulatory challenges as the drive to standardize regulatory reporting persists. Regulators continue to strengthen their focus on transparency and harmonization, particularly in the derivatives space
SEC Rule 605: Disclosure of Order Execution Information
January 2024
Overview, Regulatory Timelines, Required Content in the Monthly Reports, Changes to the Rule with SEC Proposed Amendments, Elements Required to be Reported with SEC Proposed Rule Updates, New Section Covering Executions of Market and Marketable Limit Orders
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