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Cloud & Infrastructure
RBI Unveils Draft Framework for Regulatory Sandbox
By Editors | 19/04/2019
The framework details a comprehensive selection process to identify 10-12 entities to participate in the sandbox, including a 5 million rupee minimum net worth requirement.
Conduct, Culture & Accountability
Korea FSC to Use Technology to Deter Misleading Marketing
By Editors | 19/04/2019
The FSC wants to ensure consumers are protected as financial services become more accessible through digital platforms through the introduction of open banking.
AI Risk & Governance
S. Korea Passes Law Allowing Robo Advisers to Manage Funds
By Editors | 18/04/2019
Korea is allowing robo advisers to operate funds, provided they are managed in line with disclosed objectives and have security breach prevention measures in place.
Cloud & Infrastructure
S. Korea FSC Accepts First Nine Fintech Sandbox Participants
By Editors | 18/04/2019
South Korea’s financial regulator has announced the first nine fintech services that it will allow to operate in its regulatory sandbox.
Clearing & Post-Trade
Settlement Workflow Needs to be Fully Automated – DTCC
By Editors | 18/04/2019
Settlement processes are attracting more attention as regulators require shorter and more certain settlement, with potential penalties for noncompliance.
Data Privacy
Hogan Lovells Releases APAC Data Protection, Cyber Security Guide
By Manesh Samtani | 16/04/2019
The guide offers a look at the key data protection and cyber security developments of 2018, expectations for the year ahead, and guidance for effective compliance.
Cybersecurity
India Brokers Asked to Report on AI, ML Systems by 15 Apr
By Editors | 13/04/2019
In line with January circular from SEBI, BSE India has asked stock brokers to submit their cybersecurity compliance reports for the Jan-Mar quarter.
Fraud, Scams & Cybercrime
SWIFT Details Critical Factors for Effective Cyber Defence
By Manesh Samtani | 12/04/2019
Asian banks must accept they are more susceptible as the initial target for fraudulent payments, as well as the receivers, with over 83 per cent of cases based in the region.
Structural Regulation
HKMA Grants Fourth Virtual Bank Licence to WeLab Digital
By Editors | 11/04/2019
The HKMA has granted a fourth virtual bank licence to WeLab Digital, the first stand-alone company to receive the licence.
Fraud, Scams & Cybercrime
UniCredit China Employee Embezzled $15mn of Client Money
By Editors | 10/04/2019
The employee allegedly used a group supervisor’s password to access the funds, which were used to buy apartment units in the US, Greece and Japan.
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