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Conduct, Culture & Accountability
MAS, IBF Take Steps to Prevent Financial Sector Job Losses
By Editors | 20/10/2020
IBF will run surveys every six months to obtain data about job losses at FIs to offer their staff reskilling support and possible redeployments in the industry.
Cybersecurity
RBNZ Consults on Draft Guidance on Cyber Resilience
By Editors | 20/10/2020
The guidance aims to raise awareness of, and ultimately promote, the cyber resilience of the financial sector, especially at the board and senior management level.
Payments & Settlements
Tokyo Stock Exchange Faces FSA Probe Over System Outage
By Manesh Samtani | 20/10/2020
Based on an on-site investigation and findings from JPX’s own investigative committee, the FSA will consider issuing a business improvement order.
Structural Regulation
Shenzhen Granted Autonomy to Enact Market-based Reforms
By Editors | 19/10/2020
Shenzhen will be able to make its own laws on artificial intelligence and big data, start a stock futures index, and list companies on its stock market with depositary receipts.
Cybersecurity
MAS Consults on New Rules for Licensed Credit Bureaus
By Sanday Chongo Kabange | 19/10/2020
Credit bureaus will be subject to similar technology risk management requirements and cyber security measures as required of other financial institutions in Singapore.
Cybersecurity
FSB Publishes Cyber Resilience Toolkit for Financial Sector
By Editors | 19/10/2020
The financial system is only as strong as its weakest link, the FSB says, encouraging the use of the final toolkit to enhance cyber incident response and recovery activities.
Cloud & Infrastructure
Japan FSA to Debut Online Filing Platform by March 2021
By Editors | 18/10/2020
The FSA plans to update its ordinances and guidelines to enable a complete shift to online applications and filings by March 2022.
AI Risk & Governance
MAS’ Use of Tech to Enhance Regulatory, Supervisory Functions
By Manesh Samtani | 17/10/2020
A recent FSB report offered case studies of how regtech and suptech are being deployed by regulators, including several examples from MAS.
Structural Regulation
US Considers Adding Ant Group to Trade Blacklist – Report
By Editors | 15/10/2020
US officials reportedly fear the Chinese government could access sensitive banking data belonging to future US users of the Alipay payment app.
KYC & CDD
Philippines Begins Roll-out of New National ID System
By Editors | 15/10/2020
PhilSys will mean wider inclusion in the financial ecosystem for the unbanked, allowing cash aid, credit and other welfare spending to reach them faster.
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