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Operational Risk
MAS, ABS Offer Guidance on Managing Remote Working Risks
By Manesh Samtani | 02/03/2021
The paper looks at possible risks to FIs in the areas of operations, technology, information security, fraud, staff misconduct, among others.
Cloud & Infrastructure
ASIFMA Calls for Harmonised Approach to Public Cloud Regulation
By Editors | 02/03/2021
Varying regulatory approaches across jurisdictions pose significant challenges to FIs trying to implement the public cloud as part of their global strategy.
Cloud & Infrastructure
Westpac Announces New Partner in Digital Banking Push
By Ranamita Chakraborty | 01/03/2021
Westpac and SocietyOne have signed a partnership expand digital banking services to customers in the second quarter of this year.
Emerging Prudential Risks
IOSCO Publishes Work Programme for 2021-2022
By Editors | 28/02/2021
New priorities will be to address the risks of NBFI activities and risks exacerbated by the Covid-19 pandemic such as misconduct, fraud and operational resilience.
Data Privacy
FSC Korea Issues ‘MyData Services’ Guidelines Ahead of August Launch
By Editors | 27/02/2021
The guidelines require participating firms to ensure consumers have sufficient awareness of their privacy rights when consenting to data transfers.
Payments & Settlements
Korea: Supervisory Power Struggle Deepens Between BOK, FSC
By Sanday Chongo Kabange | 25/02/2021
The BOK said it opposes the payment settlement system being used to oversee private transaction data, calling a revision bill proposed by the FSC a “Big Brother law”.
Cloud & Infrastructure
OJK Indonesia Urges Rural Banks to Digitalise Operations
By Editors | 25/02/2021
Efforts to digitalise are aimed at improving financial inclusion for ‘micro-entrepreneurs’ and other members of the unbanked or underbanked population in Indonesia.
Trading & Investment
SEBI, FinMin Order NSE to Explain Three Hour Trading Halt
By Editors | 25/02/2021
NSE had attributed the trading halt to issues with their links to two telecom service providers. An interim report is expected within 24 hours.
Operational Risk
Pandemic Provides Key Lessons on Outsourcing Risk: APRA
By Ranamita Chakraborty | 24/02/2021
Speaking at a virtual event hosted by GARP, APRA’s Sean Carmody said the pandemic highlighted financial industry dependencies on certain third-party providers.
Conduct, Culture & Accountability
2021 Will Demand a Different Culture of Compliance
By Quincy Tse | 24/02/2021
Quincy Tse discusses how firms can cultivate and promote a culture of compliance even as remote work arrangements continue to be commonplace.
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