Consultations

In line with its mandate the HFSB is responsible for updating the Standards.

Recent Consultation

In February 2012 the HFSB concluded its latest consultation (CP3) with the publication of the revised Standards.

- HFSB Feedback Statement on CP3/2011
- The revised Standards in PDF and Excel.


The Consultation Paper CP3 was launched on 4 August 2011 inviting feedback on a series of amendments to make the Standards more relevant internationally and strengthen them in light of the recent financial crisis. The HFSB would like to thank those who invested time and efforts in responding to the Consultation paper and providing their feedback. The written responses are available here.

The amendments resulting from CP3 became effective on 1 September 2012 to provide signatories with enough time to incorporate the amendments.


Past Consultations

In 2009 the HFSB invited comments on two Consultation Papers (CP). The results of these consultations are available below: 


1. HFSB Feedback Statement on CP1/2009 (Redemptions)

• CP1 (redemptions) relates to the handling of redemptions and issues arising when significant redemption pressure occurs, as seen in the 2nd half of 2008 and early 2009. Taking into account the principle of fair treatment of investors, the proposed ‘Standards/Guidance’ seek to address potentially damaging externalities that can develop in such situations.

2. HFSB Feedback Statement on CP2/2009 (Administration and Safekeeping)

• CP2 (administration and safekeeping): the objective is risk mitigation of fraud and misrepresentation. The proposed Standards/Guidance include the appointment of 3rd parties for safekeeping and administration of assets complemented by adequate investor disclosure.

The amendments resulting from CP1 and CP2 came into force on 1 August 2010.