Credit Risk

AMAC Issues Draft Guidelines for Funds on Valuing Financial Instruments

15/11/2020

Publicly-offered securities investment funds will have to calculate impairment of financial instruments based on expected credit losses.

Data Privacy

Korean MyData Industry ‘The First of its Kind’, says FSC Vice Chair

15/11/2020

The FSC’s Doh Kyu-sang says 35 entities are currently under review to receive preliminary licences to participate in the MyData ecosystem.

Structural Regulation

SEC Thailand to Cut Redundant Regulations, Red Tape by 2022

15/11/2020

The ‘regulatory guillotine’ project will reduce documentary requirements by almost 2 million sheets per year and processing time by about 102,000 hours per year.

Operational Risk

SEBI to Expand Risk Management Committee’s Role at Listed Entities

15/11/2020

The requirement to constitute a risk management committee will be expanded to more companies and its role expanded to include ESG risks.

Fraud, Scams & Cybercrime

Ransomware Attacks Present a Growing Threat to FIs: FS-ISAC

15/11/2020

Even with robust cybersecurity programmes, large institutions are vulnerable to attacks through third-party suppliers. Smaller institutions are at even greater risk.

Capital Adequacy

Pandemic Was ‘First Major Global Test’ of Post-Crisis Reforms: FSB

15/11/2020

The pandemic raised questions of whether the flexibility provided in the Basel framework is actually used by FIs, for example in the case of bank capital and liquidity buffers.

Structural Regulation

ABS Releases Enhanced Listings Due Diligence Guidelines

13/11/2020

The new guidelines emphasise the need for issue managers and full sponsors to “exhibit a healthy dose of professional scepticism” when conducting listings due diligence.

Fraud, Scams & Cybercrime

Korea FSS Seeks to Suspend Former Brokerage CEOs Over Lime Mis-selling

13/11/2020

The FSS has decided to order the suspension of the former CEOs of Shinhan Investment, Daishin Securities and KB Securities over the mis-selling of Lime Asset Management funds.

Cloud & Infrastructure

DTCC Paper Offers Guidance on Cloud Adoption in Financial Services

13/11/2020

The paper suggests the establishment of a principles-based, harmonised regulatory framework to better support adoption of cloud services by financial institutions.