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Operational Risk
RBNZ Proposes to Reduce ‘Burden’ of Preparing Assurance Reports
By Editors | 20/01/2022
The RBNZ proposes changes to make assurance reports on bank disclosure statements easier to navigate, more readable, and easier to prepare.
Fraud, Scams & Cybercrime
MAS, ABS Announce Measures to Bolster Online Banking Security
By Editors | 20/01/2022
Singapore banks will put in place the more stringent measures within the next two weeks, and work on more permanent solutions in the coming months.
Conduct, Culture & Accountability
Statewide Superannuation Fined for Overcharging, Misleading Members
By Sanday Chongo Kabange | 19/01/2022
Statewide also reported its breaches to ASIC some 45 days late. The firm is required to undertake a remediation programme and engage an independent expert for review.
Supervision & Enforcement
IOSCO Calls for Greater Use of Global Supervisory Colleges
By Editors | 19/01/2022
Global supervisory colleges can help strengthen cooperation between regulators, promote information sharing, and address market fragmentation.
Structural Regulation
CBIRC Targets Related Party Transactions with New Rules
By Manesh Samtani | 18/01/2022
Banks and insurers have to put in place mechanisms to identify, monitor and manage related parties and related party transactions by March 2022.
Fraud, Scams & Cybercrime
Russia Says REvil Hacking Group Has Been Dismantled
By Sanday Chongo Kabange | 18/01/2022
Russia’s intelligence bureau raided 25 properties, detained 14 individuals, and seized cash, cryptocurrency and luxury vehicles.
Cryptocurrency
ASIC Warns Against Investing Super in Crypto Assets
By Sanday Chongo Kabange | 18/01/2022
ASIC says individuals who set up self-managed super funds may be increasingly targeted by scammers to invest in crypto-assets.
Supervision & Enforcement
Vietnam, Laos to Step Up Cooperation in Banking Supervision
By Editors | 18/01/2022
The SBV and BOL will cooperate on the sharing of information, cross-border banking supervision, on-site examinations, and crisis management.
PEPs & Sanctions
US Issues Sanctions Over DPRK Ballistic Missile Launches
By Editors | 18/01/2022
The sanctions target six North Koreans, one Russian and a Russian firm were responsible for procuring goods for North Korean weapons programmes.
Anti-Money Laundering
KoFIU Unveils AML Supervision & Inspection Plan for 2022
By Sanday Chongo Kabange | 18/01/2022
KoFIU will begin inspections on VASPs, financial institutions, casinos and mutual finance companies starting February.
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