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AI, Technology & Data
Cybersecurity
US SEC Fines ICE for Late Notification of Cyber Intrusion
By Editors | 22/05/2024
Commissioners Hester Peirce and Mark Uyeda said the $10mn penalty was “disproportionately large” and creates a “counter-productive dynamic” with regulated entities.
Payments & Settlements
Swift Enables Banks to Improve Services for Corporates
By Editors | 22/05/2024
Swift will extend ISO 20022 across the entire payment chain, and provide ready-to-use, white-labelled payment tracking services via API.
AI Risk & Governance
AI Act Gets Final Approval from European Council
By Nithya Subramanian | 22/05/2024
The AI Act provides for increased transparency regarding the development and use of high-risk AI systems, while also encouraging innovation.
AI Risk & Governance
Top Tech firms Commit to AI Safety at Seoul Summit
By Nithya Subramanian | 22/05/2024
Google, Meta, Microsoft, OpenAI and others have pledged to not develop or deploy AI models if the risks cannot be sufficiently mitigated.
Data Privacy
Taiwan FSC Issues New Data Governance Consultation
By Editors | 21/05/2024
The consultation categorises customer data of FIs into four levels, and proposes corresponding governance methods for each level during data sharing.
Trading & Investment
Implementing Singapore’s New OTC Derivatives Reporting Regime
By Manesh Samtani | 20/05/2024
Broadridge’s Carl Hovland and David Farmery talk to Regulation Asia about the measures firms should consider as they implement new OTC derivatives reporting requirements in Singapore.
Fraud, Scams & Cybercrime
Indonesia Launches Anti-Fraud Strategy Guide for ITSK Sector
By Editors | 19/05/2024
OJK said the guide will help strengthen the digital ecosystem in Indonesia and and build public trust.
Emerging Prudential Risks
Digitisation of Finance Can Create and Amplify Risks: BCBS
By Nithya Subramanian | 17/05/2024
New BCBS report offers recommendations for banks to consider to mitigate digitalisation-related risks.
Data Privacy
Australia’s Digital ID Bill Passes House of Representatives
By Mark Johnston | 16/05/2024
The scheme will soon extend to state and territory governments, with the private sector to follow within two years.
AI Risk & Governance
Singapore to Boost Attractiveness of Accountancy Sector
By Nithya Subramanian | 15/05/2024
Accountancy Workforce Review Committee offers recommendations to build a sustainable pipeline of talents in the accountancy sector.
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