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News on frameworks, regulations, and major events related to risks arising from internal processes, systems failures, human errors, or external disruptions.
Data Privacy
Singapore, Switzerland to Promote Cross-border Data Connectivity
By Editors | 25/05/2022
MAS and SIF will work towards enabling data flows (including personal information) within financial groups, supported by free choice of location for data storage and processing.
Conduct, Culture & Accountability
CSRC Revises Rules for Managers of Publicly Offered Funds
By Editors | 24/05/2022
The rules increase emphasis on ethical conduct and governance, loosen licensing restrictions, and allow public fund managers to outsource operations.
Structural Regulation
Malaysia SC, Labuan FSA to Enhance Supervisory Cooperation
By Editors | 24/05/2022
The MOU will enable the SC and FSA to strengthen collaboration in areas such as risk monitoring and promote capital market stability.
Cybersecurity
ASIC Sets Out Expectations on Cyber Risk Management
By Mark Johnston | 19/05/2022
The guidance follows Australia’s first Federal Court judgment ruling that an AFS licensee breached its obligations on managing cyber risk.
Operational Risk
HKMA’s Operational Resilience Standards: An ‘Adapt and Learn’ Approach
By Lisa Huang | 19/05/2022
Lisa Huang and Shannon Wong offer guidance on making a timely start to compliance with HKMA’s new operational resilience framework.
Trading & Investment
SSE Consults on Market Making Rules for STAR Market
By Darien Choong | 17/05/2022
The consultation comes as the CSRC releases final regulations on the introduction of a market-making mechanism for the STAR Market.
Credit Risk
China: State-owned Banks to Step Up Lending to MSMEs
By Darien Choong | 15/05/2022
State Council-approved measures call on state-owned banks to increase lending and repayment flexibilities for MSMEs.
Capital Adequacy
FSC Korea Directs Banks to Strengthen Capital, Risk Management
By Editors | 11/05/2022
Banks are asked to strengthen loss absorption capacity, FX liquidity management, credit risk monitoring and bad debt provisioning.
Credit Risk
Hong Kong Banks Barred from Suing Defaulting Landlords
By Manesh Samtani | 05/05/2022
For 3 months, lenders may not take action against landlords who default on secured loans as a result of a rental enforcement moratorium being imposed in Hong Kong.
Emerging Prudential Risks
APRA Scraps Expectations on Negative Rate Preparedness
By Editors | 04/05/2022
Banks asked for an extension on a 31 July 2022 deadline, citing market conditions and resource pressures due to other priorities.
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