In their declaration following the meeting in Los Cabos on 18/19 June 2012, the G20 leaders committed to implement financial reform to agreed timelines, urged jurisdictions to finalise regulations to meet the G20 commitment for central clearing and asked FSB and IAIS to complete their work on identification and policy measures for global systemically important insurers by April 2013. FSB has published a press release and accompanying documents on G20. It is noted that G20 leaders have endorsed recommendations to put FSB on an enduring organisational footing, with legal personality and greater financial autonomy. They also endorsed FSB’s amended charter, which strengthens the FSB’s role in coordinating international standard setting and in monitoring implementation of agreed policies and international standards at the national level. Leaders called for full implementation of the recommendations by the next G20 Summit in September 2013. FSB has published the text of a letter to G20 leaders prior to the meeting which sets out the key elements of recent progress on the reform programme and next steps. Reports presented to G20 were an overview report on progress in the implementation of the G20 recommendations for strengthening financial stability a “scoreboard” status report that assesses the current state of progress made in global policy development and implementation of financial regulatory reforms; recommendations for strengthening FSB’s capacity, governance and resources, including a revised charter for FSB; a report, identifying the effects of regulatory reforms on emerging market and developing economies and reviewing potential unintended consequences prepared with IMF/World Bank.

This Presidency compromise text follows discussions in the meetings of the Working Party on Financial Service. The document is marked up to show changes.

This protocol has been created to ensure effective cooperation between competent authorities with respect to their obligations under Article 41 of MiFID. It is noted that the protocol will be kept under review in light of practical experience.

Text of the following, given at the ISLA conference in Madrid, follows. He discusses work recently undertaken by a working group of the Securities Lending and Repo Committee, including concerns over transparency and trade repositories.

This Presidency compromise text follows discussions in the meetings of the Working Party on Financial Service. The document is marked up to show changes.

This Presidency compromise text follows discussions in the meetings of the Working Party on Financial Service. The document is marked up to show changes.

This consultation seeks comments on the third part of the technical advice that ESMA proposes to submit to the EC on a number of possible delegated acts. Responses are required by 20 August 2012. ESMA will consider the feedback it has received in relation to this consultation in Q3 2012 and expects to publish a final report and submission of the technical advice to the EC in Q4 2012. It is noted that ESMA has set up a further dedicated task force currently dealing with section 5 of the Mandate concerning the compilation of a comparative table of the liability regimes applied by the Member States in relation to the Prospectus Directive. ESMA expects to submit its final report to the European Commission in Q1 2013. (20/06/12)

The Committee has published supplementary written evidence in respect of the above inquiry from IMA, FinanceWatch and Kay Swinburne MEP (first link) and a transcript of the hearing on 12 June 2012 attended by economists.

The Committee has published supplementary written evidence in respect of the above inquiry from IMA, FinanceWatch and Kay Swinburne MEP (first link) and a transcript of the hearing on 12 June 2012 attended by economists.

This consultation paper puts forward the EBA proposals on the above topic and requests responses by 31 July 2012. It notes that a final text of EMIR is not expected until August 2012.