Read more about the article Reserve Bank of India constitutes an external Working Group on Expected Credit Loss (ECL) based Framework for Provisioning by Banks

Reserve Bank of India constitutes an external Working Group on Expected Credit Loss (ECL) based Framework for Provisioning by Banks

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RBI had released the Discussion Paper on "Introduction of Expected Credit Loss Framework for Provisioning by Banks" on January 16, 2023, soliciting inputs from all stakeholders. The ECL approach to provisioning is a paradigm shift from the current incurred loss-based provisioning regime. The Discussion Paper envisages a forward looking, principle-based framework for provisioning for credit

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Read more about the article RBI appoints Shri Muneesh Kapur as new Executive Director

RBI appoints Shri Muneesh Kapur as new Executive Director

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The Reserve Bank of India (RBI) has appointed Shri Muneesh Kapur as Executive Director (ED) with effect from October 3, 2023. Prior to being promoted as ED, Shri Kapur was Adviser-in-Charge, Monetary Policy Department and Secretary to the Monetary Policy Committee. Over a span of nearly three decades in the Reserve Bank, Shri Kapur has

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Read more about the article ESMA to launch Common Supervisory Action on MiFID II sustainability requirements

ESMA to launch Common Supervisory Action on MiFID II sustainability requirements

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The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, will launch a Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on the integration of sustainability in firms’ suitability assessment and product governance processes and procedures in 2024. The goal of the CSA will be to assess the progress made

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Read more about the article FCA bans Simon Hughes for failures in advice given to British Steel Pension Scheme Members

FCA bans Simon Hughes for failures in advice given to British Steel Pension Scheme Members

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The FCA has banned Simon Hughes of S&M Hughes Limited (in liquidation) from advising customers on pension transfers and pension opt outs, and from holding any senior management function in a regulated firm. Mr Hughes will also pay £158,600 to the Financial Services Compensation Scheme (FSCS) to contribute to redress due to his customers, most

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