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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.
Cybersecurity
Taiwan Issues List of Institutions Required to Bolster Cybersecurity
By Ranamita Chakraborty | 05/02/2021
The critical infrastructure facilities believed to be on the list include Taiwan’s D-SIBs, science park operators and telecoms.
Operational Risk
FSC Penalises Citibank Taiwan Over Reporting Errors
By Editors | 05/02/2021
The bank has been reporting credit data to the JCIC incorrectly since December 2010, potentially impacting the credit scores of certain customers.
Operational Risk
Myanmar Banks Reopen Amid Military-led State of Emergency
By Manesh Samtani | 02/02/2021
Some foreign banks have launched emergency safety measures, ordering employees to stay at home or halting operations indefinitely.
Operational Risk
APRA Releases Policy, Supervision Priorities for 2021
By Editors | 01/02/2021
Priorities include updates to the prudential standards on remuneration, resolution and recovery planning, operational risk, governance and risk management.
Conduct, Culture & Accountability
CBIRC Flags Continued Governance Issues at Banks, Insurers
By Editors | 30/01/2021
Major shareholders at some small and medium-sized institutions are deliberately concealing their affiliate relationships and using the institutions as ‘cash machines’.
Liquidity Risk
CBIRC Issues Draft Rules for Banks on Managing Liability Quality
By Editors | 29/01/2021
The draft rules set out six aspects of debt quality management that banks will have to incorporate in their systems, as part of efforts to prevent risks.
AI Risk & Governance
ASIC Sheds Light on Regtech Initiatives in New Report
By Manesh Samtani | 28/01/2021
The report highlighted the importance of good data governance, skilled data-literate staff, and human review and input when implementing regtech applications.
Market Abuse
Taiwan to Punish Foreign Banks for Facilitating Currency Speculation
By Editors | 26/01/2021
The banks helped grains merchants trade in deliverable FX forwards in contravention of foreign exchange regulations.
Conduct, Culture & Accountability
Sri Lanka Issues Good Practices Guidelines for Stockbrokers
By Duruthu E Chandrasekera | 26/01/2021
The guidelines are mandatory and require immediate implementation. Three months’ grace is given for a new cap on investment advisor commissions.
Operational Risk
2021 Outlook for BCBS 239 Compliance in Southeast Asia
By Irene Liu | 26/01/2021
PwC’s South East Asia Consulting team discusses progress made to comply with BCBS 239 in Southeast Asian jurisdictions, providing an outlook and recommendations for the year ahead.
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