AI, Technology & Data

Cloud & Infrastructure

MAS Proposes New Requirements for Banks’ Outsourced Functions

By Editors | 08/02/2019

The proposals will expand MAS’ powers to impose requirements on banks’ and merchant banks’ outsourcing arrangements, regardless of where outsourced functions are performed.

Clearing & Post-Trade

ISDA Launches Digital Platform to Automate IM Documentation

By Editors | 07/02/2019

‘ISDA Create – IM’ is expected to significantly reduce the time and resources it takes to negotiate margin documentation for participants in non-cleared OTC derivatives markets.

Cloud & Infrastructure

Board, Compliance Engagement Lacking in Technology Adoption

By Manesh Samtani | 07/02/2019

Financial services firms lack engagement from boards and risk and compliance functions, according to a new survey from Thomson Reuters Regulatory Intelligence.

AI Risk & Governance

SEBI Directs Market Infrastructures to Disclose AI, ML Use

By Editors | 05/02/2019

Stock exchanges, clearing corporations, depositories required to disclose their use of artificial intelligence and machine learning starting from the current quarter.

KYC & CDD

HKMA’s Regulatory Expectations of Remote Customer On-boarding

By Editors | 05/02/2019

Remote onboarding technology should be able to authenticate customer identities through document image acquisition and “incontrovertibly” link identities through biometrics.

Cloud & Infrastructure

Global Innovation Sandbox Opens for Cross Border Testing

By Editors | 04/02/2019

The GFIN’s 29 members include the HKMA, SFC, MAS and ASIC. Applications are now open for firms looking to test innovative cross border financial services.

Cybersecurity

Insurance a Critical Part of Cyber Risk Response – MAS

By Manesh Samtani | 01/02/2019

Only 6% of global cyber insurance premiums come from APAC, said MAS division head Elean Chin at the launch of a new report which reveals the inadequacy of cyber risk preparedness.

Payments & Settlements

MAS Extends Deadline to Implement E-payments User Protection Guidelines

By Editors | 01/02/2019

The MAS is allowing an extra six months for compliance with its e-payments user protection guidelines, following requests from banks for more time to implement system changes.

Data Privacy

EU-Japan Data Sharing Agreement Takes Effect

By Editors | 29/01/2019

The EU adequacy decision on Japan creates the world’s largest area of safe data flows and serves as an example for future partnerships and global standard setting.