Emerging Prudential Risks

Japanese, Korean Regulators Agree to Strengthen Cooperation

06/10/2023

The FSA and FSC will cooperate on financial stability, climate change, and digitalisation of financial services. KFB and JBA also signed an MoU.

CBDCs

BIS to Advise Korea on Design & Implementation of CBDC Pilot

05/10/2023

South Korean regulators will start testing a wholesale CBDC with commercial banks this month, and a retail CBDC in Q4 of next year.

Fraud, Scams & Cybercrime

SFC, HKPF Form Dedicated Working Group on VATPs

05/10/2023

The working group will facilitate information sharing and collaboration on monitoring and investigations involving crypto platforms.

Credit Risk

BNM Consults on Draft Rules for Islamic Collateralised Funding

04/10/2023

The draft policy document sets out the scope of transactions that can be conducted by a banking institution participating in the Islamic interbank money market.

AI Risk & Governance

MAS Sheds Light on Use of AI in Supervisory Activities

04/10/2023

MAS is using AI tools to identify market collusion, manipulation, mis-selling by financial advisers, and networks of suspicious activity in Singapore’s financial system.

Conduct, Culture & Accountability

FDIC Proposes Enhanced Corporate Governance Guidelines for Banks

04/10/2023

The guidelines will be applicable to insured depository institutions with consolidated assets of USD 10 billion or more.

Conduct, Culture & Accountability

ASIC Sues Cigno, BSF Solutions Over Unlicensed Credit Offerings

04/10/2023

Cigno Australia and BSF Solutions used a credit model that subjected some consumers to fees of more than 600% of their total loan amount.

Trading & Investment

Philippine Stock Exchange Issues Final Short Selling Guidelines

04/10/2023

The PSE said the SEC and BIR approved critical components of SBL transactions. A separate announcement will be made about the official launch date.

Reporting & Disclosures

NZ FMA Issues Record Keeping Guidance for Climate Disclosures Regime

04/10/2023

The guidance sets out principles for firms to ensure their records evidence that climate statements comply with the CRD requirements.