Past Events

Global Financial Markets Liquidity Study - A study being used in advocacy efforts to examine the impact of various changes including new regulations on market liquidity and the real economy

Mr. Nick Forrest, Director Economic Policy, PricewaterhouseCoopers LLP

Market liquidity is critical to an effectively functioning market but there been a reduction in financial market liquidity and this has had a knock on effect on markets and ultimately the real economy. The reduction in liquidity has been brought about by a range of factors including financial institutions’ responses to new regulatory risk frameworks. PWC have carried out a report on behalf of the Global Financial Markets Association (GFMA) and the Institute of International Finance (IFF) to examine the impact of these changes.

This presentation will set out the main findings of this important study including weighing up the costs and benefits of regulation and identifying regulatory initiatives that in aggregate could have a greater adverse impacts on market liquidity than might have been envisaged when they were designed individually.

We are very pleased that the one of the authors of the report, Nick Forrest from PWC’s London office, will lead us through some of the main findings which is being used in advocacy efforts with policy makers around the world including in Japan

 

The FSA’s 2015-16 Basic Policy for Financial Monitoring

Mr. Tomoyuki Furusawa , Deputy Director General, Supervisory Bureau Financial Services Agency

IBA Japan welcomes a distinguished speaker from the Japanese Financial Services Agency, Mr. Furusawa, to give an overview of the FSA’s 2015-16 Financial Administration Policy.
Mr. Furusawa will cover a range of issues including:
・The overall goals of the FSA
・FSA’s views on financial intermediation, a sound financial system and how customers should be able to have trust in this system
・FSA’s strategic response to changes in the financial industry and the economic environment
・FSA’s strategic approach to global regulatory issues

Impact of the BEPS Action Plan on the Banking Sector

Ms. Akemi Kitou,  Tax Partner – Financial Services

Ms. Ryann Thomas, Tax Partner—International Tax Services

PWC Tax Japan

As the OECD recommendations for base erosion and profit shifting (BEPS) are taking shape, there has been a lot of general information made available.

In Japan, the information has primarily been focused on Action 13 of the action plan, related to transfer pricing documentation and country-by-country reporting. However, there has been less information on what are the implications of the BEPS plan for banks beyond Action 13.

This presentation will provide the most recent updates to the BEPS agenda, with specific focus on issues that will have the greatest impact on the banking sector both globally and in Japan, including:

· Permanent Establishments (Action 7)

· Intangibles (Action 8)

· Risk and Capital (Action 9)

Recovery and Resolution Planning - Prospects for Asia and Japan

Mr. Royce Miller, Partner, Head of Asia Financial Services Practice

Mr. Shinsuke Kobayashi, Counsel, Corporate Finance Practice

Freshfields Bruckhaus Deringer

Since the recent global financial crisis, new global regulatory tools have been developed to try to ensure that there will never again be financial institutions that are “too big to fail” and need to be bailed out by governments.   One of the main tools is recovery and resolution plans, which are also known as RRP or living wills.

To date there has not been much RRP activity required in Japan or the rest of Asia for institutions that are not headquartered here.  This is changing quickly, and a lot of Asian subsidiaries/branches that are parts of international financial groups are having to consider RRP issues and in some cases even come up with local recovery and resolution plans.

Two experts from Freshfields Bruckhaus Deringer will present on the  current status of RRP activities in Asia and Japan including:

· The Financial Stability Board’s Key Attributes and global regulatory issues behind RRP

· What types of entities are subject to RRP

· Status of RRP in Japan

· How headquarters and group RRP requirements affect branches and subsidiaries in Japan.

· Total loss absorbing capital (TLAC) proposals , and how these relate to RRP.

 

 

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