Cloud & Infrastructure

Structural Regulation

BNP Paribas Fined in Taiwan for Violating Insurance Regulations

By Editors | 22/01/2024

The FSC said BNP failed to fully separate its business units and outsourced information operations to the cloud without prior regulatory approval.

Cybersecurity

Quantum Security Risks Loom for Financial Sector: WEF Report

By Mark Johnston | 19/01/2024

The WEF has released a report on the implications of quantum computing for the financial sector, highlighting the need for global collaboration and regulation.

Cloud & Infrastructure

Taiwan Advances to Third Phase of Open Banking

By Editors | 18/01/2024

The third phase of open banking covers transactions involving deposits, credit cards, loans, payments and mobile phones.

KYC & CDD

Taiwan Reports Progress on Industry Use of Digital Identity Solutions

By Mark Johnston | 07/01/2024

The FSC said the financial industry is gradually introducing digital identity verification solutions following the issuance of new guidelines in October.

AI Risk & Governance

Large Language Models Can’t Yet be Used for ‘Highstakes’ Analysis: BIS

By Manesh Samtani | 06/01/2024

Current large language models like GPT-4 do not yet have the “rigorous reasoning abilities necessary for some core analytical activities”.

Clearing & Post-Trade

Early Testing Will Be Key to Derivatives Reporting Compliance

By Manesh Samtani | 04/01/2024

DTCC’s Chris Childs and Priya Kundamal say there is no replacement for early testing to ensure data and reporting systems are fit for purpose.

Anti-Money Laundering

Regulation Asia: Top 20 News Stories for 2023

By Editors | 02/01/2024

This list presents the most-read news stories published by Regulation Asia in 2023, based on aggregated user traffic analytics.

Cloud & Infrastructure

Indonesia OJK Issues New Rules to Support Banking Digitalisation

By Mark Johnston | 30/12/2023

The new regulations aim to provide a level playing field and guidance for banks in developing digital services and assessing digital maturity.

Cybersecurity

HKMA Issues Guidance on Managing Cyber Risk of Third-Parties

By Mark Johnston | 27/12/2023

Banks are asked to use scenario-based incident response strategies and regular drills to better prepare for supply chain attacks.