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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.
Conduct, Culture & Accountability
IOSCO Proposes Measures to Address Risks from Online Marketing
By Manesh Samtani | 18/01/2022
IOSCO proposes policy and enforcement measures to address risks in online marketing and distribution of financial products to retail investors.
Cybersecurity
CSRC Issues Testing Standards for Securities, Futures Apps
By Editors | 17/01/2022
The standards set out the requirements for testing the security of mobile internet applications used in the securities and futures industry.
Operational Risk
IOSCO Outlines Pandemic Lessons on Operational Resilience
By Editors | 14/01/2022
The pandemic highlighted that greater automation of compliance and supervisory processes may better accommodate a remote workforce.
Data Privacy
Policy Reforms Needed for Platform-based Financial Services: BIS
By Sanday Chongo Kabange | 13/01/2022
A BIS paper says platform-based business models can lower costs and aid financial inclusion, but they can also give rise to digital monopolies and oligopolies.
Climate Risk
WEF Calls for Global Coordination to Address Emerging Risks
By Sanday Chongo Kabange | 12/01/2022
The climate crisis, growing social divides, heightened cyber risks, an uneven global recovery and competition in space were cited as key risks.
Cybersecurity
China’s Rules on Cybersecurity Reviews to Take Effect in Mid-Feb
By Manesh Samtani | 06/01/2022
The final rules, proposed in July, require companies holding personal data of more than one million users to undergo a cybersecurity review before they can list overseas.
Data Privacy
South Korean Financial Institutions Launch ‘MyData’ Services
By Sanday Chongo Kabange | 05/01/2022
On Wednesday, 33 firms started offering MyData services, enabling consumers to centralise management of their data from different institutions.
Reporting & Disclosures
Taiwan FSC Revises Guidelines on Financial Industry Disclosures
By Darien Choong | 04/01/2022
The amendments will enhance disclosures on environmental and social issues, board diversity and independence, and information security policies and risks.
Fraud, Scams & Cybercrime
Philippine DOJ Signs MoU with BAP on Cybercrime Prevention
By Mark Johnston | 03/01/2022
The MoU aims to formalise the establishment of a collective, coordinated, and strategic cyber response within the banking industry.
Cybersecurity
BNM Revises Regulatory Framework for Money Services Businesses
By Mark Johnston | 03/01/2022
The draft rules cover governance arrangements, operational requirements, risk management and internal controls, and IT requirements.
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