CPMI-IOSCO - Monitoring implementation of the PFMI

The CPMI and the International Organization of Securities Commissions (IOSCO) monitor the implementation of the Principles for financial market infrastructures (PFMI), which are international standards for payment systems, central securities depositories, securities settlement systems, central counterparties and trade repositories. The PFMI are designed to help ensure the safety, efficiency and resilience of these infrastructures supporting global financial markets - so their full, timely and consistent implementation is fundamental. CPMI and IOSCO members have committed to adopting the principles and responsibilities contained in the PFMI in line with the G20 expectations.

Level 1: Self-assessments that report on whether a jurisdiction has completed the process of adopting the legislation and other policies that will enable it to implement the PFMI

Level 2: Peer reviews that assess the extent to which the content of the jurisdiction's implementation measures is complete and consistent with the PFMI

Level 3: Peer reviews that examine consistency in the outcomes of implementation of the PFMI Assessment and review of application of Responsibilities for authorities