ADVERTISEMENT
News on frameworks, regulations, and major events related to risks arising from internal processes, systems failures, human errors, or external disruptions.
Operational Risk
BSP Instructs Banks to Report on LIBOR Exposures Quarterly
By Manesh Samtani | 23/11/2020
The regular reports will guide the degree of the central bank’s supervisory engagement with individual institutions, BSP deputy governor Chuchi Fonacier told Regulation Asia.
Operational Risk
APRA Halves CBA Operational Risk Capital Add-on
By Editors | 20/11/2020
CBA has made “significant progress” in areas such as risk management and compliance, remuneration and risk culture, APRA says.
Operational Risk
Underinvestment in Data, Tech a Root Cause of Breaches: ASIC
By Editors | 16/11/2020
Underinvestment in data and technology systems creates operational risks, delays in picking up problems, and costly remediation programmes, says ASIC commissioner Sean Hughes.
Operational Risk
SEBI to Expand Risk Management Committee’s Role at Listed Entities
By Editors | 15/11/2020
The requirement to constitute a risk management committee will be expanded to more companies and its role expanded to include ESG risks.
Operational Risk
US Agencies Urge Banks Forward on LIBOR Transition
By Sanday Chongo Kabange | 15/11/2020
The Fed, OCC and FDIC have asked banks to move away from LIBOR ‘without delay’, accelerate customer outreach, and prepare their systems for the transition.
Conduct, Culture & Accountability
APRA Updates Draft Prudential Standard on Remuneration
By Editors | 12/11/2020
The prudential standard is expected to come into effect for significant banks in January 2023 and for significant insurers and superannuation entities in July 2023.
Cybersecurity
FIs Need to Bolster Security Controls to Mitigate Cyber Risk: MAS
By Editors | 10/11/2020
FIs need to review the adequacy of their cyber risk mitigating measures and controls, including in relation to third-party vendors and open-source software.
Operational Risk
FSB Advances Dialogue on Outsourcing, Third Party Relationships
By Manesh Samtani | 09/11/2020
An outage or failure at a single third party could create a single point of failure with potential adverse consequences for financial stability, the FSB says.
Supervision & Enforcement
SFC Fines Credit Suisse Securities Over Market Making Errors
By Editors | 09/11/2020
Credit Suisse Securities submitted 17,000 erroneous market making quotes to the market in 8 minutes due to a logic error in its symbol mapping programme.
Liquidity Risk
SEBI to Require Debt Funds to Hold Liquid Assets, Stress Test
By Editors | 09/11/2020
Open-ended debt mutual fund schemes will have to hold at least 10% of their net assets in liquid assets, and mandatorily conduct stress testing.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.