ADVERTISEMENT
Operational Risk
Fed Orders Citigroup to Correct “Longstanding Deficiencies”
By Editors | 08/10/2020
The Fed has ordered Citigroup to remediated enterprise-wide risk management and controls deficiencies. The OCC has penalised Citibank $400mn for the same deficiencies.
Anti-Money Laundering
RegTech Asia 2020: Enhancing Transaction Monitoring
By Editors | 07/10/2020
How is the financial industry using AI/machine learning and data analytics to enhance typically rule-based transaction monitoring systems?
Conduct, Culture & Accountability
Korea FSS to Penalise Brokerage CEOs Over Lime Asset Mis-selling
By Editors | 07/10/2020
The proposed sanctions may include a ban on former and current CEOs of three brokerage firms from working in the financial industry for up to five years.
Conduct, Culture & Accountability
Conduct Risk a Top Concern Among Banks, Insurers: ORX
By Editors | 06/10/2020
In retail banking, scenario development commonly featured conduct risk. In Asia Pacific, fraud has also been a significant concern among FIs.
Trade Based Money Laundering
Singapore Banks to Develop Trade Finance Registry to Combat Fraud
By Manesh Samtani | 06/10/2020
DBS and StanChart are leading a project to develop a central registry which will prevent borrowers from using the same collateral to secure loans with multiple banks.
Cloud & Infrastructure
RegTech Asia 2020: RegTech Lessons from Digital Banks
By Editors | 06/10/2020
What were some of the challenges of rolling out virtual banks in Hong Kong, and what were the biggest factors in technology and regulatory compliance considerations?
Supervision & Enforcement
APRA Commences Roll-out of New Risk Supervision Model
By Manesh Samtani | 06/10/2020
The move to the new Supervision Risk and Intensity Model could lead to a change in the intensity of supervision that APRA applies for some entities.
Conduct, Culture & Accountability
Court Orders ANZ To Pay A$10m Penalty Over Unlawful Fees
By Editors | 06/10/2020
The case, launched by ASIC in July 2019, related to periodic payment fees ANZ was not entitled to charge under its terms and conditions.
Market Abuse
ASIC Bans Former Fixed Income Broker for Ten Years
By Editors | 05/10/2020
The ex-broker charged unpermitted spreads and traded at prices other than the agreed independent valuation on transactions entered on behalf of referred clients.
Cloud & Infrastructure
Sri Lanka: CBSL to Introduce Fintech Regulatory Framework
By Duruthu E Chandrasekera | 05/10/2020
The central bank set up a fintech sandbox in February but no companies have applied to participate so far, officials told Regulation Asia.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.