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Cloud & Infrastructure
Data Storage Rules: A Christmas Present From the SFC
By Derek McGibney | 11/12/2020
While the SFC’s new FAQs on the use of cloud storage make compliance more manageable, licensed corporations still need to weigh their options, says Derek McGibney at Cognitive GRC.
Supervision & Enforcement
APAC Overtook US in AML Penalties For 2020: Fenergo
By Editors | 10/12/2020
APAC has overtaken the US in terms of the value of enforcement actions for the first time since 2015, largely due to the Goldman and Westpac cases.
Cloud & Infrastructure
Global LEI Foundation to Develop ‘Cryptographically Verifiable LEIs’
By Editors | 10/12/2020
The ‘vLEI’ will create a cryptographically secure chain of trust that replaces manual processes required to access and confirm an entity’s LEI data.
Data Privacy
SFC Provides Alternative for Compliance With Data Storage Rules
By Manesh Samtani | 10/12/2020
The SFC will accept an undertaking from core function MICs as an alternative means of satisfying the requirement for a countersigned notice or undertaking from an EDSP.
Data Privacy
Korea to Introduce Inspections of Personal Data Handling at FIs
By Editors | 10/12/2020
The routine inspections are aimed at ensuring consistency in data protection standards in the financial sector amid a changing data industry in Korea.
Cybersecurity
Australian Regulators Launch Cyber Resilience Testing Framework
By Manesh Samtani | 09/12/2020
The ‘CORIE’ framework will initially run as an industry pilot programme, consisting of a small number of systemically important FIs.
Trade Based Money Laundering
Combatting TBML Through Collaboration and Technology
By Henry Roxas | 09/12/2020
R3’s Henry Roxas describes the complexities of trade-based money laundering in Asia and the importance of collaboration to tackle the problem once and for all.
Sustainable Finance
Singapore to Lay Foundation for Regional Carbon Credits Market
By Manesh Samtani | 09/12/2020
Ravi Menon said there is a need for more high-quality carbon credits and more trading of such credits across borders to drive convergence towards a global price on carbon.
Cybersecurity
PBOC Launches Cyber Info Sharing Platform for Financial Sector
By Editors | 09/12/2020
The platform was built by ICBC, China Construction Bank and other FIs, to improve industry cyber defences and prevention capabilities.
Clearing & Post-Trade
NZX Enhances Infrastructure, Security Following Independent Reviews
By Editors | 08/12/2020
EY was commissioned to look into issues stemming from record trading volumes in March and April, while InPhySec looked into NZX’s DDoS attack response in August.
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