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Cloud & Infrastructure
MAS Consults on Proposed Notices for Outsourced Services
By Manesh Samtani | 21/12/2020
Banks’ outsourcing agreements must include terms that grant MAS the right to audit the outsourced arrangement and obtain information from the service provider.
Conduct, Culture & Accountability
ASIC Consults on Internal Dispute Resolution Reporting Requirements
By Editors | 20/12/2020
ASIC has adopted feedback on the data reporting requirements from an earlier consultation. Additional feedback is needed before it confirms the next steps for implementation.
Cybersecurity
Philippine SEC to Mandate New Cybersecurity Rules for Capital Markets
By Editors | 20/12/2020
Regulated entities will have to create a separate Information Security Group and appoint a Chief Information Security Officer.
Cybersecurity
CSRC Issues Draft Rules on Cybersecurity Incident Handling
By Editors | 20/12/2020
The draft rules provide new standards for categorising cybersecurity incidents based on severity, enhance incident reporting efficiency, and introduce added flexibility for punishments.
Operational Risk
HKMA Outlines Regtech Use Cases for Pandemic Environment
By Editors | 18/12/2020
In its fifth issue of ‘Regtech Watch’, the HKMA outlines four potential regtech use cases relevant to the pandemic environment.
Anti-Money Laundering
Korea’s FIU Upgrades AML System to Boost Processing Capacity
By Editors | 17/12/2020
The upgraded AML system has increased KoFIU’s processing capacity by about five times, helping it address an increasing number of suspicious transaction reports it receives.
Data Privacy
Japan FSA to Allow Banks Use Customer Data for Targeted Ads
By Editors | 15/12/2020
The FSA will reportedly allow local banks to use their customers’ data for targeted advertising and sales activities.
KYC & CDD
Regulation Asia Awards for Excellence 2020 – Results Announcement
By Editors | 15/12/2020
Regulation Asia held its third annual Awards ceremony on 15 December 2020 to recognise those in the industry that have helped address changing regulatory requirements in Asia Pacific over the past year.
Model Risk
PwC Wins Consulting Firm of the Year in Regulation Asia Awards
By Editors | 15/12/2020
PwC has been supporting banks across ASEAN with BCBS 239 compliance, LIBOR transition, data governance and IFRS 9 model development and validation.
Conduct, Culture & Accountability
LeapXpert Recognised for Innovation to Facilitate Trading Surveillance
By Editors | 15/12/2020
LeapXpert’s platform integrates with third-party messaging applications to ensure employee communications with clients are compliant and employers can retain communications data.
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