IOSCO and the Committee on Payments and Market Infrastructures ("CPMI") published a fourth update to the Level 1 assessments of implementation monitoring of the Principles for Financial Market Infrastructures ("PFMI") (international standards for payment, clearing and settlement systems, including central counterparties, and trade repositories).
IOSCO and CPMI reported that 20 of the 28 jurisdictions had completed their implementation measures for all financial market infrastructure ("FMI") types. IOSCO and CPMI also reported that progress had been made even by those participating jurisdictions that had not completed their implementation measures.
The Level 1 assessments are developed from self-assessments submitted by jurisdictions that evaluate adoption and implementation of (i) 24 PFMI principles for FMIs and (ii) four of five PFMI responsibilities for authorities. The next update of the Level 1 assessment will be conducted in 2018.
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