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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
FSC Taiwan to Order LINE Bank to Improve Operations
By Sanday Chongo Kabange | 11/05/2021
The FSC says LINE Bank’s report explaining its launch day system failure was not satisfactory. The regulator will ask the bank improves its operations.
Operational Risk
IOSCO Finds Gaps in BCP Rules for Trading Venues, Intermediaries
By Manesh Samtani | 07/05/2021
Some jurisdictions have regulatory requirements for critical systems of trading venues that do not extend to outsourced functions.
Operational Risk
China SOEs Directed to Rein In Unauthorised Derivatives Trading
By Editors | 06/05/2021
SOEs are directed to ensure their subsidiaries are qualified and properly approved to trade financial derivatives, and able to manage the associated risk.
Payments & Settlements
Mitigating FX Settlement Risk in Japan’s Pensions Industry
By Margaret Law | 06/05/2021
Margaret Law and Makoto Miyazaki discuss the need for Japanese pension funds to adopt PvP settlement to mitigate FX settlement risk.
Anti-Money Laundering
Taiwan FSC Fines Nan Shan Life Insurance Over Lax Controls
By Editors | 05/05/2021
The FSC found that 122 sales personnel paid premiums on behalf of clients with their own credit cards to earn rewards points offered by banks.
Cloud & Infrastructure
Regulatory Reporting Lessons from Singapore and Australia
By Editors | 04/05/2021
MAS and APRA are among the regulators that have wholeheartedly endorsed the use of technology to improve the quality, accuracy and speed of reporting.
Cybersecurity
IMF Offers Guidance to Central Banks on Fintech, Cybersecurity
By Sanday Chongo Kabange | 04/05/2021
The surge of technological innovation and related cybersecurity issues strengthen the need for enhanced risk management at central banks, the IMF says.
Fraud, Scams & Cybercrime
BOT Creates Database to Guard Against Factoring Fraud
By Editors | 04/05/2021
The database acts as a centralised repository of factoring-related transactions to guard against counterfeiting, double financing and fraud.
Market Risk
Getting Your Hands Dirty with IBOR Transition
By Manesh Samtani | 03/05/2021
Specialists from Bloomberg, Standard Chartered Bank, ING Bank and Clifford Chance discuss IBOR transition challenges and how to address them.
Conduct, Culture & Accountability
RBI to Require Banks, NBFCs to Seek Annual Auditor Approval
By Editors | 03/05/2021
Banks and NBFCs will be required to obtain approval for the appointment and reappointment of their statutory auditors on an annual basis.
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