AI, Technology & Data

CBDCs

RBI Set to Commence Limited Pilot Launch of CBDC

By Editors | 09/10/2022

To avoid the disintermediation of banks, which would impede credit creation, the RBI suggested the CBDC would likely be non-interest bearing.

Fraud, Scams & Cybercrime

Malaysia Budget 2023 to Tackle Scams, Promote Capital Market

By Editors | 09/10/2022

Budget 2023 includes measures to strengthen the capital market, protect against scams and cyber threats, and drive the ESG and climate change agenda.

Cybersecurity

Australia Mounts ‘Supercharged’ Response to Optus Breach

By Sanday Chongo Kabange | 07/10/2022

“Operation Guardian” will protect those who had their data released online. Regulatory changes will enable better coordination to detect and mitigate cyber, fraud and scam risk.

Trading & Investment

SEBI Extends 2FA Requirement to Fund Subscription Transactions

By Editors | 05/10/2022

AMCs are already required to authenticate mutual fund redemption transactions. The requirement is being extended to include subscription transactions.

Structural Regulation

ISDA Nears Completion of Work to Digitise CFTC Reporting Rules

By Editors | 04/10/2022

ISDA working groups are transforming CFTC swap data reporting rules into machine-executable code ahead of implementation on 5 December.

Structural Regulation

BIS Paper Offers Options for Regulating Big Tech

By Manesh Samtani | 04/10/2022

One option is to group financial activities into a dedicated subgroup under an FHC structure. A second is to create a new regulatory category for big tech financial groups.

Anti-Money Laundering

HKMA Publishes Initial Observations from AMLab Series

By Manesh Samtani | 02/10/2022

The HKMA plans to run a network analytics-themed AMLab again later this year to give more banks an opportunity to take part.

Data Privacy

Enhanced Penalties for Data Breaches Take Effect in Singapore

By Editors | 02/10/2022

Organisations with annual turnover exceeding S$10mn are liable for penalties for data breaches worth up to 10% of annual turnover.

Data Privacy

Australia Proposes Framework to Enable CDR ‘Action Initiation’

By Editors | 30/09/2022

Consumers would be able to instruct businesses to make payments, open and close accounts, switch providers, and update personal details on their behalf.