The International Accounting Standards Board (IASB) has published a comprehensive project summary regarding their fair value measurement project. The project summary provides the background to the project and explains how the IASB plans to finalize an IFRS on fair value measurement.
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The IASB and the Financial Accounting Standards Board (FASB) will hold two joint webcasts on July 8, 2010 to introduce the exposure draft Revenue from Contracts with Customers, which was published on 24 June 2010. The webcasts will be followed by a question and answer session.
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The IASB and the FASB posted a staff draft of proposed standards on their respective websites.  The Boards are not formally inviting comments on this staff draft; however, they welcome input from interested parties. The Boards expect to publish an Exposure Draft for public comment in early 2011.
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The IASB published exposure draft Measurement Uncertainty Analysis Disclosure for Fair Value Measurements for public comment. The exposure draft is open for comment until September 7, 2010.
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The Securities and Exchange Commission (SEC) is publishing for public comment proposals by the national securities exchanges and FINRA to expand a recently adopted circuit breaker program to include all stocks in the Russell 1000 Index and certain exchange-traded funds. Once the proposals have been published in the Federal Register, comments will be open for 10 days.
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The SEC approved new rules to significantly curtail the corrupting influence of "pay to play" practices by investment advisers. The new rule becomes effective 60 days after its publication in the Federal Register.
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Effective July 1, 2010, the British Columbia Securities Commission (BCSC) , together with other Canadian Securities Administrators, is adopting amendments to National Instrument 24-101 Institutional Trade Matching and Settlement and its related companion policy and forms (the amendments).
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Effective June 30, 2010, the BCSC, together with other Canadian Securities Administrators, is adopting National Instrument 23-102 Use of Client Brokerage Commissions (the rule) and its companion policy. The BCSC is also adopting consequential amendments to National Instrument 41-101 General Prospectus Requirements in Form 41-101F2 Information Required in an Investment Fund Prospectus and National Instrument 81-101 Mutual Fund Prospectus Disclosure in Form 81-101F2 Contents of an Annual Information Form.
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The Office of the Superintendent of Financial Institutions (OSFI) published a reminder regarding the monthly reporting to OSFI on the List of Names subject to the Regulations Establishing a List of Entities made under subsection 83.05(1) of the Criminal Code and/or the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism (RIUNRST) and/or United Nations Al-Qaida and Taliban Regulations (UNAQTR). The next monthly report to OSFI under the above Regulations must be filed by July 15, 2010. The most recent revisions were made to the lists on June 28, 2010 (see below).
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The Standardized Approach Working Group (SAWG), with representatives from OSFI, Assuris and the AMF  is now undertaking a second Quantitative Impact Study (QIS) covering the market risk component of the new standardized approach for the MCCSR. The second QIS is intended to test changes to the methods being proposed, and to estimate the potential impact of adopting the new market risk component.  The worksheets should be completed and returned by September 24, 2010.
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OSFI published notification that in a press release dated June 25, 2010, the United Nations Security Council (UNSC) announced that the Al-Qaida and Taliban Sanctions Committee approved the removal of one entity from its Consolidated List of individuals and entities. OSFI’s website has been updated accordingly.
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OSFI published notification that on June 18, 2010, the Governor-in-Council brought into force the Regulations Amending the Regulations Implementing United Nations Resolutions on Iran, to implement UN Security Council Resolution 1929 of June 9, 2010. Resolution 1929 made several additional entities and individuals subject to the RIUNRI by virtue of having been added to the list of names subject to United Nations Security Council (UNSC) Resolutions 1737, 1747 and 1803.
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OSFI has posted amendments to the Regulations modifying the funding rules for defined benefit pension plans, so that actuarial reports' filing requirements are consistent with the new funding rules.
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OSFI published its 2010/11 annual updates to the Manual of Reporting Forms and Instructions for Deposit-taking Institutions effective January 2011; the Canadian and Foreign Life Insurance Companies Annual Returns (Q4 2010), Interim Returns (Q1 2011) ; the Manual of Financial Reporting Forms and Instructions, including updates to the OSFI-86, OSFI-87 and OSFI-588 Annual and Quarterly Returns; the Canadian and Foreign Property & Casualty Insurance Companies Annual Returns (Q4 2010), Interim Returns (Q1 2011) and Annual Return Instructions; and the Canadian and Foreign Fraternal Benefit Societies Annual Update letter.
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The Financial Transactions and Reports Analysis Centre (FINTRAC) published notice that in order to protect the international financial system from money laundering and terrorist financing risks, the Financial Action Task Force (FATF) issued two statements on June 25, 2010 identifying jurisdictions that have strategic deficiencies in their anti-money laundering / combating the financing of terrorism (AML/CFT) regime.  The jurisdictions include the Islamic Republic of Iran as well as Sao Tome and Principe and the Democratic People's Republic of Korea.
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