Market Infrastructure

APRA Calls For Greater Board Engagement on Cyber Risk

25/11/2021

APRA found in a data collection exercise that 60 percent of regulated entities had not assessed IT service providers’ information security control testing.

Fintech / Regtech

Japanese Banks, Companies to Test Run Digital Currency

24/11/2021

A group of over 70 companies, banks, and organisations plans to bring a digital currency known as DCJPY into circulation in the second half of 2022.

Market Infrastructure

China Steps Up Crackdown on Violations of Anti-monopoly Law

24/11/2021

China Citic Bank and a Baidu unit are among the latest to be fined. The SAMR’s anti-monopoly bureau has been elevated to a separate state-level bureau.

HKMA Publishes Interim Report on Front Office Incentives Review

24/11/2021

Frontline staff with more positive perceptions of customer and conduct outcomes had incentives that emphasised both financial and non-financial factors.

Market Infrastructure

Japan Unveils Decisions on Treatment of Legacy LIBOR Contracts

23/11/2021

Synthetic JPY LIBOR may be used if the contracting parties agree to do so, as well as in “exceptional cases” where it is difficult to proceed with negotiations.

Market Infrastructure

FSB Calls for Urgent Action Complete LIBOR Transition Steps

23/11/2021

The FSB says transition should be “primarily to overnight RFRs” and that it is closely watching market developments regarding credit-sensitive rates.

HKMA Restricts Data Sharing for Direct Marketing Purposes

22/11/2021

Banks may not share customers’ personal data with third parties including their own group companies for direct marketing purposes.

Fintech / Regtech

Japan FSA Publishes Principles for Model Risk Management

22/11/2021

The FSA published the principles to catalyse further development of model risk management practices in the industry and prevent risk.

HKMA Concludes First Phase of Front Office Incentives Review

22/11/2021

Preliminary observations from the review show that banks are increasingly considering both financial and non-financial factors when designing incentive systems.