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Data Privacy
CBIRC Updates Rules for FIs on Managing Regulatory Statistics
By Darien Choong | 24/05/2022
The rules clarify requirements for regulatory statistics work to be centrally managed within FIs and for data quality to be improved.
Conduct, Culture & Accountability
US SEC Probes Use of Text Messaging by Major Banks
By Editors | 23/05/2022
The probe is reportedly aimed at gauging how pervasive the use of unauthorised messaging platforms is for business-related messages.
Conduct, Culture & Accountability
CBIRC Proposes New Rules on Consumer Rights Protection
By Editors | 22/05/2022
The proposed rules prohibit misleading sales, compulsory product bundling, unreasonable charges, and “algorithmic discrimination”.
Data Privacy
HK PCPD Issues Guidance on Cross-border Data Transfers
By Editors | 19/05/2022
Recommended model contractual clauses are provided for scenarios where personal data is transferred across borders to another data user or to a data processor.
Cybersecurity
ASIC Sets Out Expectations on Cyber Risk Management
By Mark Johnston | 19/05/2022
The guidance follows Australia’s first Federal Court judgment ruling that an AFS licensee breached its obligations on managing cyber risk.
Emerging Prudential Risks
ASEAN+3 Ministers Pledge to Maintain Regional Stability
By Editors | 19/05/2022
The CMIM is being enhanced to allow ASEAN+3 members to use their own and each other’s local currencies for CMIM liquidity support.
Operational Risk
HKMA’s Operational Resilience Standards: An ‘Adapt and Learn’ Approach
By Lisa Huang | 19/05/2022
Lisa Huang and Shannon Wong offer guidance on making a timely start to compliance with HKMA’s new operational resilience framework.
Conduct, Culture & Accountability
Philippines Passes Law to Enhance Financial Consumer Protections
By Sanday Chongo Kabange | 19/05/2022
The law grants regulators enhanced powers to address fraud and consumer complaints in a more timely manner.
Structural Regulation
China Signals End to Crackdown on Technology Companies
By Editors | 19/05/2022
Vice Premier Liu He suggested China will support the platform economy and improve its handling of relations with private companies.
Structural Regulation
China Issues New Guidelines on Accounting Firm Inspections
By Editors | 18/05/2022
Inspections will assess whether accounting firms have adequate information security and systems for screening audit work papers for “secrets”.
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