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Data Privacy
Singapore, Australia Agree to Promote Data Connectivity, Digital Economy
By Editors | 23/03/2020
Singapore and Australia have committed to allowing financial institutions to choose where their data is stored and prohibiting data localisation, among a raft of other agreements.
Credit Risk
FSC Korea Authorises KODIT to Develop New Credit Scoring System
By Editors | 20/03/2020
The new system will use non-financial and transaction information of SMEs and small merchants to generate credit scores, improving their ability to obtain financing and credit guarantees.
Operational Risk
Singapore Banking Heads Discuss Independent Validation Function
By Shierly Mondianti | 17/03/2020
PwC spoke to DBS’s Sia Nam Chie and OCBC’s Simon Lavender about the challenges they faced setting up the independent validation function for BCBS 239 compliance.
Trading & Investment
ASIC Directs Equity Market Participants to Limit Trading
By Editors | 16/03/2020
The move is a response to a particularly large increase in trades executed on Friday, largely attributable to algorithmic and high frequency trading.
AI Risk & Governance
Wolters Kluwer, PwC Complete PoC Using AI in Regulatory Reporting
By Editors | 15/03/2020
After minutes of training, algorithms were able to use 250,000 records of previously unseen raw data to predict regulatory reporting output with degrees of accuracy exceeding 99%.
Cloud & Infrastructure
APRA’s New Data Collection Solution to Go Live in Six Months
By Editors | 12/03/2020
The revised timeline follows APRA’s decision in October to explore alternative implementation approaches for the new solution, which will be known as ‘APRA Connect’.
AI Risk & Governance
AI’s ‘Black Box’ Issues Can Be Addressed Through Regulation
By Editors | 12/03/2020
A new paper develops a regulatory roadmap for addressing the increasing role of AI in finance, focusing on human involvement to deal with ‘black box’ issues.
Data Privacy
SFC Considers Easing Data Storage Rules – Report
By Editors | 11/03/2020
Industry bodies are reportedly working with the SFC to clarify the rules and make compliance easier, though it is unclear what specific steps it will take to ease the requirements.
Cloud & Infrastructure
Outsourcing Requirements for Hong Kong Banks: An Overview
By Philip Keller | 10/03/2020
Industry veteran Philip Keller outlines outsourcing requirements for banks in Hong Kong, with a focus on data, a major area of concern in relation to outsourced activities.
Clearing & Post-Trade
JPX to Test DLT Information Sharing in Securities Post Trade
By Editors | 10/03/2020
The pilot testing will seek to address inefficiencies in the securities post-trade process that arise as a result of data and workflow mismatches between trading counterparties.
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