Operational Risk

SEBI Updates Risk Management Framework for Mutual Funds, AMCs

30/09/2021

Mutual funds and AMCs will be required to maintain mandatory metrics on investment risk, liquidity risk and credit risk, and perform stress tests at least monthly.

Operational Risk

APRA Revises Investment Governance Standards for Super Funds

29/09/2021

A new consultation proposes enhancements to stress testing, valuation and liquidity management practices that will take effect from 1 January 2023.

Fraud, Scams & Cybercrime

Hong Kong Sees Spike in Investment Scam Losses – Report

29/09/2021

Victims lost HKD 2.5 billion from investment scams between January and July, a 20-fold increase compared to the same period last year.

Operational Risk

RBA Issues Recommendations to Address Risk Issues at ASX

29/09/2021

The RBA has asked ASX to address operational risk and governance issues, as well as develop a framework to address margin procyclicality.

Anti-Bribery & Corruption

Ex-CBIRC Official Took Bribes During Baoshang Takeover – Report

29/09/2021

Li Guorong is accused of taking bribes from entrepreneurs while serving as deputy head of a team appointed to take over Baoshang Bank.

Emerging Prudential Risks

CBIRC Urges Mainland Insurers to Issue Cat Bonds in HK

29/09/2021

The issuance of catastrophe bonds in Hong Kong can help diversify Mainland insurers’ losses from natural disasters and enhance the risk-sharing mechanism.

Credit Risk

Shenzhen Regulator Launches Probe into Evergrande Wealth

29/09/2021

The Shenzhen Financial Regulatory Bureau said a “thorough investigation” into Evergrande Wealth has been launched following investor demands for an inquiry.

Anti-Money Laundering

AUSTRAC Outlines Planned Enhancements to Reporting System

29/09/2021

A four-year transformation programme will introduce a “modern and intuitive user interface” and high-speed channels for file uploads, among other changes.

Structural Regulation

RBI Amends FX Rules for Exports to Facilitate LIBOR Transition

29/09/2021

Under the amendment, authorised dealer banks can use ARRs in place of LIBOR for interest payable in export/import transactions.