PwC's Managing upstream risk: Regulatory reform review - An asian perspective August 2013 | Page 4

1. Editorial

In August 2013, the FSB undertook the following initiatives in upholding its mandate:
Date 12 August Initiative FSB consulted on implementation guidance for the Key Attributes of effective Resolution Regimes. We discuss the salient features of this consultation paper in this edition under the Recovery and Resolutions Planning section. FSB published the Enhanced Disclosure Task Force implementation progress report. The Managing Upstream Risk will cover this is greater detail in the upcoming September edition. FSB published its second progress report on compensation practices noting that most of its member jurisdictions have been progressing well but more has to be done by national authorities and firms in ensuring that the end result of prudent risk-taking behavior is being implemented effectively • Basel Committee published its 4th progress report on Basel III regulatory reform implementation for the G20 Leaders’ Summit in St Petersburg on 5-6 September 2013. This latest report notes substantial progress on the following matters: • the adoption of the Basel standards by Basel Committee member jurisdictions; • the harmonisation of capital regulations across member jurisdictions; and • the finalisation of remaining post-crisis reforms that form part of the Basel regulatory framework. 27 August FSB completed its peer review of the United States

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27 August

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Regulatory Reform Review | Editorial