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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.
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.
Operational Risk
Hong Kong Anti Covid Restrictions Take Toll on Banks
By Sanday Chongo Kabange | 18/01/2022
Banks including Goldman Sachs, Bank of America, Morgan Stanley and UBS are struggling to bring key executives into Hong Kong due to flight bans.
Structural Regulation
PBOC to Grant Local Authorities Greater Role in Financial Supervision
By Editors | 16/01/2022
New draft regulations open for consultation will strengthen the supervisory and risk disposal responsibilities of local governments within their territories.
Operational Risk
IOSCO Outlines Pandemic Lessons on Operational Resilience
By Editors | 14/01/2022
The pandemic highlighted that greater automation of compliance and supervisory processes may better accommodate a remote workforce.
Operational Risk
CBIRC Issues Rules for Pension Insurance Institutions
By Darien Choong | 12/01/2022
Pension insurance providers should optimise service capabilities, improve internal management and governance, and strengthen risk isolation.
Credit Risk
HK Banks Extend Repayment Deferment for Trade Facilities
By Editors | 12/01/2022
The HKMA cited uncertainties caused by the spread of Covid-19 and global supply chain disruptions that are continuing to pressure corporates.
Operational Risk
CBIRC Issues New Guidelines on Managing Outsourcing Risk
By Manesh Samtani | 10/01/2022
The guidelines emphasise the need for appropriate governance, differentiated controls based on the importance of outsourced functions, and awareness of concentration risk.
Credit Risk
Thailand Unveils New Measures to Support Debt Restructuring
By Editors | 05/01/2022
The BOT has relaxed its rules on loan classification and provisioning to enable specialised financial institutions to provide greater long-term support to debtors.
Operational Risk
Taiwan FSC Reveals Focus Areas of 2022 Inspections
By Editors | 03/01/2022
The 7 core focus areas include consumer protection, real estate credit, information security, conflicts of interest, and green finance.
Cybersecurity
BNM Revises Regulatory Framework for Money Services Businesses
By Mark Johnston | 03/01/2022
The draft rules cover governance arrangements, operational requirements, risk management and internal controls, and IT requirements.
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