AI, Technology & Data

Emerging Prudential Risks

BigTechs Contribute to Efficiency – and Risk – in Financial Services

By Manesh Samtani | 08/04/2019

A BIS working paper says BigTechs enhance competition, financial inclusion and efficiency in financial services, but they also concentrate market power and give rise to systemic risk.

Conduct, Culture & Accountability

Korea FSS to Facilitate ‘Responsible’ Innovation by Foreign Firms

By Editors | 08/04/2019

FSS governor Yoon Suk Heun urged foreign financial firms to bring in “a new wave” of financial inclusion and responsible innovation to spur sustainable growth in Korea’s financial industry.

Data Privacy

ACCC Publishes Draft Rules for Open Banking Data Sharing

By Editors | 08/04/2019

The draft rules provide detail and guidance as to how the Consumer Data Right will work in the banking sector starting in July this year.

Structural Regulation

S. Korean May Allow Fintechs to Enter Brokerage Business

By Editors | 05/04/2019

The biggest barrier to entry for fintech firms will be the capital regulations imposed on existing brokerage firms.

Clearing & Post-Trade

Talking Disintermediation by DLT with DTCC’s Rob Palatnick

By Manesh Samtani | 04/04/2019

Regulation Asia sat down with DTCC’s Rob Palatnick to discuss his views on how far DLT will go in disintermediating the financial industry.

Cloud & Infrastructure

APRA to Implement New Data Reporting System in March 2020

By Editors | 03/04/2019

APRA says in its initial implementation plan that entities must start ensuring their readiness for the new system now, as there is only a one year timeline for implementation.

Anti-Money Laundering

Artificial Intelligence – the Ultimate Weapon to Fight Financial Crime

By Karl Seagrave | 03/04/2019

Getting buy-in from senior management is one of the biggest hurdles to adopting AI in the fight against financial crime, says Fenergo’s Karl Seagrave.

Cloud & Infrastructure

S. Korea Launches Regulatory Sandbox, 105 Applications Received

By Editors | 01/04/2019

South Korea’s Special Act on Financial Innovation Support has taken effect 1 April, marking the formal launch of the country’s first financial regulatory sandbox.

Payments & Settlements

SEBI Updates Disaster Recovery Guidelines for Market Infrastructures

By Editors | 01/04/2019

Stock exchanges, depositories and clearing corporations must have in place business continuity plans and disaster recovery policies that ensure ‘zero data loss’