ADVERTISEMENT
Cloud & Infrastructure
APRA to Replace Outdated Financial Data Collection Platform
By Garima Chitkara | 07/08/2018
Australia’s prudential regulator says its current data collection system requires a significant overhaul to match current flows of digitised data and regulatory requirements, plans to release tender for new solution by end of month and implement new system by end of 2019.
Cybersecurity
Thailand Banks Hit by Cyber Attack Resulting in Data Leak
By Garima Chitkara | 02/08/2018
Hackers have stolen non-financial data of over 120,000 customers from Kasikornbank and Krungthai Bank in the first such data leak in the Thai banking sector.
Payments & Settlements
PBOC Announces Licence Application by Foreign Payment Firm
By Editors | 02/08/2018
World First Asia subsidiary Yuefan Business Consulting would become the first foreign-funded third-party payment institution in China if its licence is approved.
Payments & Settlements
China Issues New Rules for Foreign Financial Networks, Information Services
By Emma Zhou | 01/08/2018
New regulations require overseas financial network and information services providers such as SWIFT to submit written reports to the PBOC.
Cloud & Infrastructure
S. Korea’s FSC Vows to Support Growth of Fintech Sector
By Mark Pufpaff | 26/07/2018
Discussions are underway concerning a revision of South Korea’s Banking Act to nurture growth within the fintech industry, including a proposal to allow non-financial firms to hold up to 50% stakes in banks, including internet-only banks.
Cybersecurity
SingHealth Breach Prompts MAS Tightening of Customer Verification
By Garima Chitkara | 26/07/2018
MAS asked financial institutions to use additional information like one-time passwords and biometrics to identify consumers over and above existing consumer verification processes.
Cryptocurrency
Shariah Fintech – A Case Study of Indonesia
By Sharifah Nursyafiqah | 25/07/2018
Better support and regulation for Shariah-compliant fintech will serve to boost the Islamic finance industry, increasing the share of Islamic banks in Indonesia’s financial services sector and ultimately making it more competitive.
Cloud & Infrastructure
Technology and Regulation: Rapidly Reforming the Funds Industry
By Leo Chen | 25/07/2018
The Asian funds industry is undergoing a period of fundamental change and challenge. This is a result of shifting investor demographics, rapid technological development, the emergence of technology firms and tightening regulation.
Cloud & Infrastructure
ASIFMA Publishes Report on Outsourcing Regulation
By Editors | 24/07/2018
The report includes nine proposed leading principles for regulation of outsourcing to help securities, futures and banking intermediaries navigate different regulatory landscapes in Asia-Pacific.
AI Risk & Governance
S. Korea FSC Reorganises to Meet ‘Fourth Industrial Revolution’
By Editors | 24/07/2018
New body charged with industry-wide consumer protection issues; Financial Innovation Bureau formed to respond to new challenges including cryptocurrency.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.