Operational Risk

APRA Releases Policy, Supervision Priorities for 2021

01/02/2021

Priorities include updates to the prudential standards on remuneration, resolution and recovery planning, operational risk, governance and risk management.

PEPs & Sanctions

Xiaomi Files Suit Against US Govt Over Investment Ban

01/02/2021

The lawsuit says banning US investors from being able to invest in Xiaomi will “cause immediate and irreparable harm” to the company and hurt its global reputation.

Conduct, Culture & Accountability

ASIC Governance Review Clears Chairman of Wrongdoing

01/02/2021

James Shipton has temporarily returned to his role as chair, but will step down in the coming months. Treasury will search for a new chairperson.

Fraud, Scams & Cybercrime

Former NAB Executive Jailed Over Scheme to Defrauding Bank

01/02/2021

An events company was issuing and sending invoices to NAB and the former executive was receiving bribes to ensure they were paid.

Resolution & Recovery

HKMA Drafts Guidance on Operational Continuity in Resolution

01/02/2021

Operational continuity in resolution is a key aspect of resolution planning for individual banks, the HKMA says.

Cybersecurity

UPDATED – KPMG Appointed to Review RBNZ Data Breach Response

01/02/2021

The review will seek to understand the events leading up to the breach, assess the appropriateness of the RBNZ’s response, and identify factors that contributed to the breach.

Trading & Investment

CSRC, Exchanges Issue Final Rules for Index Funds

01/02/2021

The rules seek to strengthen the professional competence of index fund managers, enhance the quality of underlying indexes used, and improve risk control.

KYC & CDD

How Financial Institutions View Digital Identity: Survey

01/02/2021

RUSI and ACAMS have launched a new survey seeking to better understand the potential for digital ID to aid in the fight against financial crime.

Credit Risk

FSC Korea to Tighten Debt Service Ratio Rules in Q1

01/02/2021

The accumulation of excessive debt may pose a risk to the economic recovery, the FSC said, pledging to introduce measures to rein in household and corporate debt.