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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.
Cloud & Infrastructure
FSC Korea Reiterates Plans to Regulate Bigtech in Financial Services
By Sanday Chongo Kabange | 17/01/2022
The FSC will apply “same rules for same services” to ensure fair competition between bigtech firms and financial institutions.
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.
Conduct, Culture & Accountability
Mizuho Set to Formalise New Leadership to Address System Issues
By Editors | 14/01/2022
On Tuesday, Mizuho suffered its 10th system failure since February 2021, with business customers unable to access online banking for more than 3 hours that morning.
Data Privacy
South Korea to Designate More ‘Data Specialising Institutions’
By Sanday Chongo Kabange | 13/01/2022
Data specialising institutions are allowed to converge anonymised and pseudonymised data originating from different businesses for analytics purposes.
Trading & Investment
TAIFEX to Add More Mini Contracts, Night Products in 2022
By Editors | 13/01/2022
TAIFEX will also replace its older trading system equipment by Q4 2022 to improve trading efficiency, market capacity and service delivery.
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.
Data Privacy
FSC to Enable Greater Access to Data Convergence Services
By Sanday Chongo Kabange | 10/01/2022
Rule changes will enable smaller firms with no data samples of their own to access anonymised data originating from other businesses.
Cloud & Infrastructure
RBI Establishes Dedicated Fintech Unit to Promote Innovation
By Editors | 10/01/2022
The new department will seek to promote innovation in the financial sector including by exploring policy interventions by the RBI.
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