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Cybersecurity
Cyber Resilience Practices at Financial Firms Improving: ASIC
By Editors | 19/12/2019
Improvements have been seen at larger firms in response planning, mitigation action planning, and to ensure events that occur are contained, do not propagate, and neutralised as quickly as possible.
Payments & Settlements
Google Recommends India UPI Model for New US ‘FedNow’ Service
By Editors | 19/12/2019
UPI adoption has grown from 100,000 to 1.15 billion monthly transactions in four years, with 140 member banks using its rails to enable payments for customers.
KYC & CDD
BNM Issues Draft Rules on Financial Sector Use of Electronic KYC
By Editors | 17/12/2019
BNM recommends the use of AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification, and to automate decision-making in customer onboarding.
KYC & CDD
SWIFT Opens KYC Registry to Corporate Groups
By Editors | 16/12/2019
Enabling corporate groups on the KYC Registry allows them to improve how their KYC data is structured, while freeing up their banking partners from having to chase down documentation.
Cloud & Infrastructure
RegTech Association Flags Under-Investment in Australian Regtech
By Manesh Samtani | 12/12/2019
Despite Australia having everything needed to be a global RegTech leader, mainstream adoption is being stymied by an equity gap, says new research from the RegTech Association.
Emerging Prudential Risks
Geopolitical Risk Surpasses Cyber as Top Overall Risk: Survey
By Editors | 12/12/2019
Geopolitical risk & trade tensions was cited as the top overall risk for 2020 in DTCC’s annual Systemic Risk Barometer Survey, though cyber was cited more frequently as a ‘top 5 risk’.
Structural Regulation
KRX to Simplify KOSDAQ Listing Requirements Next Year
By Editors | 12/12/2019
Korea Exchange plans to reform the listing requirements of the KOSDAQ market by shifting the focus to the future growth potential of companies.
AI Risk & Governance
Big Data is Transforming Investigations
By Jeremy Birch | 12/12/2019
Big data is rapidly changing how regulators and law enforcement conduct investigations and build cases, say Jeremy Birch, Peter Jones and Kyle Wombolt at Herbert Smith Freehills.
Trading & Investment
KRX to Tighten Rules on Algorithmic and AI-based Trading
By Editors | 11/12/2019
Algorithmic trading is not illegal in Korea, but authorities have long been concerned that the practice may cause market confusion and disadvantage retail investors.
Cloud & Infrastructure
Bank of Papua New Guinea Launches Regulatory Sandbox
By Editors | 11/12/2019
Local and foreign financial institutions and fintech firms are welcome to apply to test new products and services that could enhance financial inclusion and the provision of financial services.
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