Operational Risk

Conduct, Culture & Accountability

CBIRC Identifies Corporate Governance Deficiencies at Banks, Insurers

By Darien Choong | 16/11/2021

The CBIRC identified issues with shareholder behaviour, related party transactions, risk management systems, and internal audit, among other areas.

Operational Risk

Taiwan Raises Risk Management Expectations for Futures Funds

By Darien Choong | 15/11/2021

Futures trusts will need to have dedicated risk management departments and be prohibited from conducting discretionary futures trades for clients.

Conduct, Culture & Accountability

Westpac Advances Progress on Risk Governance Improvements

By Ranamita Chakraborty | 13/11/2021

Westpac CEO Peter King says the bank is already seeing culture improvements and benefits through reduced complexity and improved accountability.

Conduct, Culture & Accountability

MAS Raises Corporate Governance Expectations for FIs

By Sanday Chongo Kabange | 12/11/2021

New expectations on corporate governance will start to take effect from 1 January 2022, MAS says in its consultation response.

Supervision & Enforcement

FSS Faces Criticism Over Revamp of Supervisory Approach

By Editors | 11/11/2021

South Korea’s FSS will shift focus from disciplinary actions to risk prevention, according to FSS governor Jeong Eun-bo.

Emerging Prudential Risks

BCBS Offers Progress Update on Climate, Cryptoasset Work

By Editors | 09/11/2021

The BCBS will issue a consultation this month on the effective management and supervision of climate-related financial risks at internationally active banks.

Credit Risk

ABA Rolls Out New Guidance on Providing Hardship Assistance

By Editors | 02/11/2021

Some banks, such as Westpac, have already begun to implement practices within the guideline. Others will roll out the practices over the next 12 months.

Emerging Prudential Risks

FSB Reports Progress to G20 on Financial System Resilience

By Editors | 02/11/2021

The FSB emphasises a need to ensure that regulatory frameworks allow for the financial sector to harness the benefits of innovation while containing the related risks.

Cloud & Infrastructure

IOSCO Updates, Expands Principles on Outsourcing

By Editors | 31/10/2021

IOSCO’s principles on outsourcing have been updated to include trading venues, intermediaries/market participants acting on a proprietary basis, and CRAs.