Cybersecurity

EU Parliament Adopts DORA Text, Enforcement Expected in 2025

14/11/2022

New requirements on network and information system security will apply to all financial system participants, including crypto firms and cloud services providers.

Capital Adequacy

HKMA Proposes Changes to Approach for Setting CCyB

14/11/2022

The HKMA proposes to maintain a Positive Neutral CCyB of 1 percent even when its primary indicators maybe signal a lower applicable CCyB.

CBDCs

BISIH to Tackle Key CBDC Challenges with Project Tourbillon

14/11/2022

Project Tourbillon aims to reconcile trade-offs between cyber resiliency, scalability, and privacy through experimentation with a prototype CBDC.

Reporting & Disclosures

UK Think Tank Accuses Singapore’s Sembcorp of Greenwashing

14/11/2022

The allegations relate to Sembcorp’s sale of its India coal business while still retaining “substantial liabilities” and “operational influence”.

PEPs & Sanctions

UK OFSI Has Frozen Over $21b of Russian Linked Assets

13/11/2022

Russia has overtaken Libya and Iran to become the UK’s most-sanctioned nation, the OFSI said in its annual review.

Liquidity Risk

Korean Commercial Paper Markets Still Under Stress

13/11/2022

New measures announced include more active liquidity support from banks and additional purchasing support from KDB and KODIT.

Operational Risk

APRA Proposes Measures to Improve Super Fund Transfer Process

13/11/2022

The measures are proposed in response to the erosion of member benefits that occurs when successor fund transfers are carried out.

Resolution & Recovery

China Revises Rules for Insurance Industry Bailout Fund

13/11/2022

The rules adjust how contributions to the fund are calculated, so that they reflect each insurance company’s risk level.

Fraud, Scams & Cybercrime

ACCC Calls for Laws Requiring Digital Platforms to Stop Scams

13/11/2022

The ACCC says consumer and competition harms across a range of digital platform services are “widespread, entrenched, and systemic”.