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Coverage of regulatory trends, risks, and innovations in the adoption of cloud services and critical infrastructure for financial institutions.
Data Privacy
BSP, MAS Declare Opposition to Data Localisation Requirements
By Editors | 16/11/2020
Data mobility in financial services supports economic growth, innovative financial services, risk management and compliance, BSP and MAS say in a joint statement.
Operational Risk
Underinvestment in Data, Tech a Root Cause of Breaches: ASIC
By Editors | 16/11/2020
Underinvestment in data and technology systems creates operational risks, delays in picking up problems, and costly remediation programmes, says ASIC commissioner Sean Hughes.
Data Privacy
Korean MyData Industry ‘The First of its Kind’, says FSC Vice Chair
By Editors | 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.
Cloud & Infrastructure
DTCC Paper Offers Guidance on Cloud Adoption in Financial Services
By Editors | 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.
Operational Risk
FSB Advances Dialogue on Outsourcing, Third Party Relationships
By Manesh Samtani | 09/11/2020
An outage or failure at a single third party could create a single point of failure with potential adverse consequences for financial stability, the FSB says.
Cloud & Infrastructure
MAS Announces Grant to Help Small FIs Adopt Reg Reporting Tech
By Editors | 09/11/2020
The grant provides funding support for smaller FIs to adopt regulatory reporting solutions from pre-approved providers – AxiomSL, KPMG Services and Wolters Kluwer.
Cloud & Infrastructure
DLT Projects in Trade, Trade Finance Have Matured: WTO, TFG
By Editors | 05/11/2020
Research from the WTO and TFG suggests a material acceleration of projects, consortiums and companies using DLT and blockchain within trade and trade finance.
Cloud & Infrastructure
New Zealand FMA to Deepen Fintech, ESG Expertise
By Sanday Chongo Kabange | 05/11/2020
The appointments reflect the FMA’s support for innovation in financial services and a commitment to supporting New Zealand’s transition to a greener financial system.
Structural Regulation
IOSCO Issues Recommendations to Develop Emerging Capital Markets
By Editors | 04/11/2020
IOSCO outlines the main challenges emerging markets face when developing their capital markets, also exploring opportunities offered by sustainable finance and fintech.
Payments & Settlements
Hong Kong, China Successfully Connect Trade Finance Platforms
By Manesh Samtani | 03/11/2020
Seven banks have already used the connection to conduct cross-border trade financing transactions, with the total trade value exceeding HK$26mn.
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