Cloud & Infrastructure

    Coverage of regulatory trends, risks, and innovations in the adoption of cloud services and critical infrastructure for financial institutions.

    Structural Regulation

    Taiwan FSC Set to Open Applications for Internet-Only Insurer Licences

    By Darien Choong | 05/07/2022

    Applications will be open from 1 August. Fubon Financial and CTBC Financial have reportedly expressed interest in the licence.

    Anti-Money Laundering

    AUSTRAC Issues Update on Reporting System Enhancements

    By Editors | 05/07/2022

    AUSTRAC has commenced development of a new CRM platform which will enable it develop enhanced self-service capabilities in AUSTRAC Online.

    Cloud & Infrastructure

    RBI Issues Draft Rules on Managing IT Outsourcing Risks

    By Sanday Chongo Kabange | 28/06/2022

    Regulated entities don’t require specific approvals to outsource IT services, but appropriate policies and a risk management framework must be in place.

    Data Privacy

    Impacts of New PCPD Guidance on Cross-border Data Transfers

    By Albert Yuen | 27/06/2022

    FIs in Hong Kong should review whether their commercial agreements contain requirements equivalent to the recommended model contractual clauses, say Albert Yuen and Eunice Lee.

    KYC & CDD

    Corporate Registries Should Issue LEIs in Bulk: BIS Paper

    By Manesh Samtani | 25/06/2022

    Bulk LEI issuance by corporate registries would enhance the efficiency and reliability of data collection and reduce the per-company cost of applying for an LEI.

    Payments & Settlements

    DBS Launches Overseas QR Payments for Singapore Users

    By Editors | 24/06/2022

    Users of the DBS mobile payment and wallet service known as PayLah! can scan UnionPay QR codes to pay in 45 countries.

    AI Risk & Governance

    HKMA to Prepare Roadmap for Promoting Key Fintech Areas

    By Manesh Samtani | 23/06/2022

    HKMA will formulate a detailed roadmap of initiatives to further promote Investech, Wealthtech, Insurtech and Greentech, as well as artificial intelligence and DLT.

    Conduct, Culture & Accountability

    SFC Cites Conduct, Technology and Climate as Key Priorities

    By Editors | 23/06/2022

    The SFC’s latest annual report highlights work to enhance book building and placing practices, regulate fund trustees and custodians, and enhance climate disclosure for fund investors.

    CBDCs

    BISIH London to Develop API Prototypes for Retail CBDC

    By Editors | 22/06/2022

    Project Rosalind aims to develop APIs for retail CBDC distribution that best enable a central bank ledger to interact with private sector service providers.

    Data Privacy

    China Tightens Rules on Mobile App Development

    By Darien Choong | 21/06/2022

    The new rules, which takes effect on 1 August, require mobile apps to force users to authenticate their identities.

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