Publication
Regulation Around the World: Open Finance
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Global | Publication | November 2018
In general, financial intermediation benefits from strengthening recovery and resolution frameworks. An adequate recovery and resolution framework facilitates private sector lending by reducing uncertainty and creating a more equal playing field among banks. In Africa, strengthening the framework will in particular have beneficial effects on funding costs through supporting banks’ access to international debt markets, credit ratings and correspondent banking relations.
The FSB’s Key Attributes of Effective Resolution Regimes are aimed at facilitating orderly resolution and maintaining the continuity of failed banks’ vital economic functions without exposing taxpayers to losses flowing from bank failure, and have become international standards. A recent study undertaken by Norton Rose Fulbright benchmarks recovery and resolution laws in Africa against the Key Attributes to identify gaps. The Key Attributes relate to, e.g. the scope of laws, the resolution authority, resolution powers, aspects of cross-border cooperation, recovery and resolution planning and access to information. The study covers 17 countries throughout the continent.
For a more detailed look at the findings of our study, please register for our online, interactive guide provides a practical overview of the requirements across Africa, including a comparison builder, an overview of the key themes, and regional insights. The guide is hosted on our client knowledge portal, "The Institute". By registering for The Institute, you will also have access to our cross-border guides and other premium content.
Publication
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Publication
Most incidents handled by our Norton Rose Fulbright cyber team originate from the customer’s service provider. In many cases it is the service provider’s systems, infrastructure and environment which proves to be the most vulnerable to cyber breaches and security issues.
Publication
Canada and the European Union signed a Security and Defence Partnership (SDP), which formalizes a mutual intent to foster closer ties by establishing a framework for dialogue and cooperation across the full security and defence spectrum.
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