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Data Privacy
China to Require Cybersecurity Reviews Before Firms List Overseas
By Manesh Samtani | 14/07/2021
Companies that have personal information of more than 1 million users must submit to a cybersecurity review by the Office of Cybersecurity Review.
Emerging Prudential Risks
FSB Takes Stock of Covid-19 Lessons on Financial Stability
By Manesh Samtani | 13/07/2021
Covid-19 may yet test the resilience of the global financial system, as lenders could still face additional losses as support measures are unwound, the FSB warns.
Conduct, Culture & Accountability
ABA Commissions Review of Banking Code of Practice
By Ranamita Chakraborty | 13/07/2021
The review seeks input on whether CDR laws provide adequate data protection and how effective the Code has been in supporting consumers during Covid-19.
AI Risk & Governance
MAS Launches ‘Veritas Challenge’ to Strengthen Trust in AI
By Manesh Samtani | 12/07/2021
MAS invites fintechs, solution providers and FIs to submit innovative solutions to help validate the fairness of AI solutions for selected banking use cases.
Cloud & Infrastructure
PBOC Directs Banks to Enhance Lending Services for MSMEs
By Editors | 12/07/2021
Banks should also increase investment in inclusive fintech including big data, cloud computing and blockchain to improve loan efficiency, the PBOC said.
Cloud & Infrastructure
SFC, Canadian Regulators Establish Fintech Cooperation Agreement
By Editors | 12/07/2021
Under the agreement, the SFC and eight Canadian securities regulators will cooperate on information sharing and referrals between their innovation functions.
Data Privacy
New Zealand to Establish Consumer Data Right Framework
By Ranamita Chakraborty | 12/07/2021
The government will look to align New Zealand’s CDR system with the Australian model, rolling it out on a sector-by-sector basis.
AI Risk & Governance
FSC Korea Issues Guidelines on AI-based Financial Services
By Ranamita Chakraborty | 11/07/2021
Financial firms offering services using AI technologies will be required to have controls in place that ensure fairness to prevent consumer discrimination.
Emerging Prudential Risks
The Resilience Imperative: Succeeding in Uncertain Times
By Gabriele Vigo | 11/07/2021
Strengthening financial institutions’ resilience has never been more important, say Gabriele Vigo and Olivia White at McKinsey.
Data Privacy
China to Tighten Oversight of Overseas Listings
By Sanday Chongo Kabange | 08/07/2021
Chinese authorities will step up supervision of companies that list overseas to improve regulation of cross-border data flows and security.
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