dido:public:ra:xapend:m_acts_laws
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dido:public:ra:xapend:m_acts_laws [2022/04/02 19:04] nick [non-U.S. Government Oversight Authorities] |
dido:public:ra:xapend:m_acts_laws [2022/05/11 16:01] (current) nick |
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| ====== Appendix M: Financial Laws, Regulations and Authorities ===== | ====== Appendix M: Financial Laws, Regulations and Authorities ===== | ||
| + | [[dido:public:ra | Return to Reference Architecture (RA)]] or [[dido:public:ra:xapend | Return to Appendices]] | ||
| - | The following Laws and Regulation governing Privacy, Money Laudering, Terrorism and Financials apply in the U.S. and need to be part of any DIDO solution concerned with currency, money, financials, or cyrptocurrencies. Often these Laws and Regulations are considered as obsticles or barriers to innovation, but each law or regultion is developd in response to some situation that occured iin the past and to prevent a "modern" repeat of these situations, the laws and regulations should be upgraded, not ignored or overturned. | ||
| - | Some of these Laws, Regulations and Authorities have general applicability to DIDOs when the data stored within the DIDO refers to [[dido:public:ra:xapend:xapend.a_glossary:p:pii]] and therefore subject to the tenents of privacy. See [[dido:public:ra:xapend:xapend.a_glossary:r:right_to_privacy]]. | + | The following Laws and Regulation governing Privacy, Money Laundering, Terrorism and Financials apply in the U.S. and need to be part of any DIDO solution concerned with currency, money, financials, or cryptocurrencies. Often these Laws and Regulations are considered as obstacles or barriers to innovation, but each law or regulation is developed in response to some situation that occurred in the past and to prevent a "modern" repeat of these situations, the laws and regulations should be upgraded, not ignored or overturned. |
| + | |||
| + | Some of these Laws, Regulations and Authorities have general applicability to DIDOs when the data stored within the DIDO refers to [[dido:public:ra:xapend:xapend.a_glossary:p:pii]] and therefore subject to the tenets of privacy. See [[dido:public:ra:xapend:xapend.a_glossary:r:right_to_privacy]]. | ||
| Some Laws, Regulations and Authorities are relevant to DIDO when the DIDO is considered a [dido:public:ra:xapend:xapend.a_glossary:f:financial_instrument]] or a [[dido:public:ra:xapend:xapend.a_glossary:s:security_finance | Security]]. Certain [[dido:public:ra:xapend:xapend.a_glossary:c:cryptocurrency | Cryptocurrencies]] and [[dido:public:ra:xapend:xapend.a_glossary:i:ico | Initial Coin Offerings (ICOs)]] may be found to meet the definition of an "investment contract" under the [[dido:public:ra:xapend:xapend.a_glossary:h:howey_test]] which the U.S. Supreme Court ruling determined that an Investment Contract must: | Some Laws, Regulations and Authorities are relevant to DIDO when the DIDO is considered a [dido:public:ra:xapend:xapend.a_glossary:f:financial_instrument]] or a [[dido:public:ra:xapend:xapend.a_glossary:s:security_finance | Security]]. Certain [[dido:public:ra:xapend:xapend.a_glossary:c:cryptocurrency | Cryptocurrencies]] and [[dido:public:ra:xapend:xapend.a_glossary:i:ico | Initial Coin Offerings (ICOs)]] may be found to meet the definition of an "investment contract" under the [[dido:public:ra:xapend:xapend.a_glossary:h:howey_test]] which the U.S. Supreme Court ruling determined that an Investment Contract must: | ||
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| |< 100% 35% ->| | |< 100% 35% ->| | ||
| ^ Authority ^ Description ^ | ^ Authority ^ Description ^ | ||
| + | ^ [[dido:public:ra:xapend:xapend.a_glossary:u:us_treasury | U.S. Treasury]] | <WRAP> | ||
| + | The **U.S. Treasury** is the government department responsible for issuing all Treasury bonds, notes, and bills.1 Among the government departments operating under the U.S. Treasury umbrella are the: | ||
| + | |||
| + | * Internal Revenue Service (IRS) | ||
| + | * U.S. Mint, the Bureau of the Fiscal Service | ||
| + | * Alcohol and Tobacco Tax and Trade Bureau | ||
| + | </WRAP> | | ||
| ^ [[dido:public:ra:xapend:xapend.a_glossary:s:sec | U.S. Securities and Exchange Commission (SEC)]] | <WRAP> | ^ [[dido:public:ra:xapend:xapend.a_glossary:s:sec | U.S. Securities and Exchange Commission (SEC)]] | <WRAP> | ||
| The SEC is the U.S. government agency in charge of the nation's [[dido:public:ra:xapend:xapend.a_glossary:s:security_finance | securities]] industry. It monitors transactions, as well as the activities of financial professionals. Its mission is to promote fairness, integrity and transparency; prevent fraud and other deceptive acts; and ensure orderly and efficient markets. | The SEC is the U.S. government agency in charge of the nation's [[dido:public:ra:xapend:xapend.a_glossary:s:security_finance | securities]] industry. It monitors transactions, as well as the activities of financial professionals. Its mission is to promote fairness, integrity and transparency; prevent fraud and other deceptive acts; and ensure orderly and efficient markets. | ||
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| ^ People's Republic of China ^ [[dido:public:ra:xapend:xapend.a_glossary:c:cbrc | China Banking Regulatory Commission (CBRC)]] | <WRAP> | ^ People's Republic of China ^ [[dido:public:ra:xapend:xapend.a_glossary:c:cbrc | China Banking Regulatory Commission (CBRC)]] | <WRAP> | ||
| The **CBRC** is authorized by the State Council to regulate the banking sector of the PRC except the territories of Hong Kong and Macau, both of which are special administrative regions. | The **CBRC** is authorized by the State Council to regulate the banking sector of the PRC except the territories of Hong Kong and Macau, both of which are special administrative regions. | ||
| - | |||
| - | The main functions of the CBRC | ||
| - | - Formulate supervisory rules and regulations governing the banking institutions; | ||
| - | - Authorize the establishment, changes, termination and business scope of the banking institutions; | ||
| - | - Conduct on-site examination and off-site surveillance of the banking institutions, and take enforcement actions against rule-breaking behaviors; | ||
| - | - Conduct fit-and-proper tests on the senior managerial personnel of the banking institutions; | ||
| - | - Compile and publish statistics and reports of the overall banking industry in accordance with relevant regulations: | ||
| - | - Provide proposals on the resolution of problem deposit-taking institutions in consultation with relevant regulatory authorities; | ||
| - | - Responsible for the administration of the supervisory boards of the major State-owned banking institutions; and Other functions delegated by the State Council; | ||
| </WRAP>| | </WRAP>| | ||
| ^ ^ [[dido:public:ra:xapend:xapend.a_glossary:c:circ | China Insurance Regulatory Commission (CIRC)]] | <WRAP> | ^ ^ [[dido:public:ra:xapend:xapend.a_glossary:c:circ | China Insurance Regulatory Commission (CIRC)]] | <WRAP> | ||
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| The **CSRC** is the national regulatory body that oversees the securities and futures industry of the country. The CSRC is the functional equivalent of the [[dido:public:ra:xapend:xapend.a_glossary:s:sec | Securities and Exchange Commission (SEC)]] of the U.S., charged with maintaining orderly and fair markets. | The **CSRC** is the national regulatory body that oversees the securities and futures industry of the country. The CSRC is the functional equivalent of the [[dido:public:ra:xapend:xapend.a_glossary:s:sec | Securities and Exchange Commission (SEC)]] of the U.S., charged with maintaining orderly and fair markets. | ||
| </WRAP>| | </WRAP>| | ||
| - | ^ India ^ Reserve Bank of India (RBI) | | | + | ^ India ^ [[dido:public:ra:xapend:xapend.a_glossary:r:rbi | Reserve Bank of India (RBI)]] | <WRAP> |
| - | ^ ^ Securities and Exchange Board of India (SEBI) | <WRAP> | + | The **RBI** is the central bank of India, whose primary function is to manage and govern the financial system of the country, and it regulates the issue and supply of the Indian rupee. Additionally, it looks after the central government’s money and is the of the //bankers’ bank// and regulates the banking sector. The RBI is an important in India’s development by supporting the government in its developmental projects and policies. |
| - | </WRAP>| | + | </WRAP> | |
| - | ^ ^ Insolvency and Bankruptcy Board of India (IBBI) | <WRAP> | + | ^ ^ [[dido:public:ra:xapend:xapend.a_glossary:s:sebi | Securities and Exchange Board of India (SEBI)]] | <WRAP> |
| + | The **SEBI** is the most important regulator of securities markets in India and is the counterpart of the [[dido:public:ra:xapend:xapend.a_glossary:s:sec | Securities and Exchange Commission (SEC)]] in the U.S. The stated objective of the SEBI is //"to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incidental thereto."// | ||
| </WRAP>| | </WRAP>| | ||
| - | ^ ^ Insurance Regulatory and Development Authority of India (IRDAI) | <WRAP> | + | ^ ^ [[dido:public:ra:xapend:xapend.a_glossary:i:ibbi | Insolvency and Bankruptcy Board of India (IBBI)]] | <WRAP> |
| + | **IBBI** is a key pillar of the ecosystem responsible for implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders. | ||
| </WRAP>| | </WRAP>| | ||
| - | ^ ^ Pension Fund Regulatory and Development Authority (PFRDA) | <WRAP> | + | ^ ^ [[dido:public:ra:xapend:xapend.a_glossary:i:irdai | Insurance Regulatory and Development Authority of India (IRDAI)]] | <WRAP> |
| + | The **IRDAI** having overall supervision and development of the Insurance sector in India. The key objectives of the IRDAI includes the promotion of competition to enhance customer satisfaction through increased consumer choice and fair premiums, and ensuring the financial security of the Insurance market. Additionally, the IRDAI to frames regulations laying down the regulatory framework for supervision of the entities operating in the sector. </WRAP>| | ||
| + | ^ ^ [[dido:public:ra:xapend:xapend.a_glossary:p:pfrda | Pension Fund Regulatory and Development Authority (PFRDA) ]]| <WRAP> | ||
| + | **PFRDA** regulates National Pension System (NPS), subscribed by employees of Government of India, Indian State Governments and by employees of private institutions, organizations, and unorganized sectors. PFRDA ensures the orderly growth and development of pension market. | ||
| </WRAP>| | </WRAP>| | ||
| ^ International ^ [[dido:public:ra:xapend:xapend.a_glossary:f:fatf | Financial Action Task Force (FATF)]] | <WRAP> | ^ International ^ [[dido:public:ra:xapend:xapend.a_glossary:f:fatf | Financial Action Task Force (FATF)]] | <WRAP> | ||
dido/public/ra/xapend/m_acts_laws.1648940644.txt.gz · Last modified: 2022/04/02 19:04 by nick
