Principles for Financial Market Infrastructures: Update on Assessment of Implementation Published

The Committee on Payments and Market Infrastructures ("CPMI") and the International Organization of Securities Commissions ("IOSCO") published the second update to the Level 1 Assessments of Implementation Monitoring of the Principles for Financial Market Infrastructures ("PFMIs").

The Level 1 assessments are based on self-assessments by individual jurisdictions on how they have adopted, within their regulatory and oversight frameworks, the PFMIs' 24 Principles for FMIs and four of the five Responsibilities for authorities.

The second update found that progress has been made by the 28 participating jurisdictions, in particular, within the implementation measures applicable to central securities depositories and securities settlement systems vis-à-vis other types of FMI.

The second round of Level 2 Assessments, as well as the first round for Level 3 Assessments for the Principles for Financial Market Infrastructures, are currently underway. Results are expected to be published in 2015-2016.

See: Second Update to Level 1 Assessment Report; Press Release; First Update to Level 1 Assessment Report; Level 1 Assessment Report; Principles for Financial Market Infrastructures.Related news: CPMI and IOSCO Publish Reports on the Implementation of the Principals for Market Infrastructures in the EU, Japan and the U.S. (February 26, 2015); CPSS and IOSCO Monitor Implementation of PFMIs (April 17, 2013); CPSS and IOSCO Issue Disclosure Framework and Assessment Methodology for FMIs (December 14, 2012).