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Cybersecurity
Reporting on regulatory requirements, enforcement actions, and best practices to safeguard financial institutions and markets against cyber threats, data breaches, and vulnerabilities through proactive measures.
Cybersecurity
SEBI Issues New Advisory on Cybersecurity Practices
By Editors | 28/02/2023
The advisory calls on firms to take into account concentration risk when outsourcing multiple critical services to the same third party vendor.
Payments & Settlements
FSB Sets Out Next Steps for Enhancing Cross-border Payments
By Editors | 26/02/2023
The next phase of work focuses on payment system interoperability, legal and regulatory frameworks, and cross-border data exchange.
Data Privacy
UK, Australia Should Draw Open Banking Lessons from Each Other
By Mark Johnston | 26/02/2023
NatWest and National Australia Bank published a white paper drawing lessons from the UK and Australia’s open banking implementations.
Cryptocurrency
SFC Consults on New Licensing Regime for Crypto Trading Platforms
By Manesh Samtani | 20/02/2023
The consultation sets out requirements under the new licensing regime, including safeguards for retail investors, travel rule requirements, and maximum penalties for misconduct.
Liquidity Risk
BSP Finalises New Requirements for E-money Issuers
By Sanday Chongo Kabange | 14/02/2023
Amended regulations require e-money issuers to meet higher liquidity and capital requirements, to ensure the industry’s resilience.
Structural Regulation
SEBI Enhances Regulatory Obligations for Important Stock Brokers
By Editors | 14/02/2023
SEBI will designate certain stockbrokers as ‘qualified stock brokers’ and require them to meet enhanced obligations and responsibilities.
Cybersecurity
CSRC Releases Four New Standards for Securities Industry
By Editors | 14/02/2023
The standards include new penetrating testing guidelines which the CSRC says will strengthen the security of information systems in the industry.
Conduct, Culture & Accountability
Trust in Singapore Banks Increases for Second Year Running
By Editors | 13/02/2023
The ABS Culture and Conduct Steering Group will seek to further build trust by strengthening digital banking security and highlighting banking practices that may compromise consumers.
PEPs & Sanctions
South Korea Issues First Independent DPRK Sanctions
By Editors | 12/02/2023
The sanctions came hours after South Korea and the US released a joint cybersecurity advisory detailing the threat posed by North Korean ransomware actors.
Data Privacy
EU Parliamentarians Back Eurozone Digital Wallet Framework
By Sanday Chongo Kabange | 12/02/2023
The EU Digital Identity Wallet, expected to go live in 2024, will make it possible to store personal credentials within a single digital ID.
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