Month: October 2023

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    16
    Oct
    ,

    Implementation of Ind AS by banks in India

    In 2023, the RBI issued a DP on provisioning per the ECL approach, which was largely acknowledged as a paradigm shift in how banks in India were required to provide financial assets like loans and investments. In response to comments received from stakeholders, the RBI issued a press release on 04 October 2023 and announced the constitution of a working group for independent inputs on technical aspects of ECL. While the final directions on ECL-based provisioning are awaited, the RBI issued final directions on the Classification, Valuation, and Operations of Investments on 12 September 2023. The issuance of revised directions on the classification, valuation, and operations of investments marks a significant shift in the financial reporting requirements of banking entities.
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    12
    Oct
    ,

    Private Fund Adviser (PFA) Rules

    In an ever-evolving regulatory landscape, changes to reporting requirements play a pivotal role in shaping how the investment industry operates. The Securities and Exchange Commission’s (SEC) issuance of new private fund adviser rules and amendments under the Investment Advisers Act 1940 marks a significant transformation in the regulation of private fund advisers. These rules are designed to address longstanding challenges and concerns in the private fund industry, aiming to safeguard the interests of investors while fostering greater transparency, governance, and fairness.
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