Operational Risk

Conduct, Culture & Accountability

RBNZ, FMA Unimpressed by Insurers’ Inaction on Conduct Risk

By Editors | 18/09/2019

RBNZ governor Adrian Orr says the sector has failed to demonstrate the necessary urgency and prioritisation to provide effective governance and monitoring of conduct risk.

Conduct, Culture & Accountability

BSP Revises Rules to ‘Institutionalise’ Consumer Protection at Banks

By Editors | 11/09/2019

The BSP has revised its financial consumer protection framework to ensure banks conduct their business ethically and refrain from practices that may cause harm to consumers.

Operational Risk

CBIRC Tightens Rules on Insurers’ Related-Party Transactions

By Editors | 10/09/2019

The CBIRC says some insurance companies have allowed their subsidiaries to use the insurers as “ATM machines”, causing “severe risks and social impact”.

Supervision & Enforcement

Enforcement Actions Will Be Publicised, APRA Clarifies

By Editors | 04/09/2019

Publicising enforcement actions gives the community confidence that financial institutions are being held to account when they do the wrong thing, said APRA deputy chair John Lonsdale.

Credit Risk

Brokers Under CSRC Scrutiny for Stock Pledge Business

By Editors | 03/09/2019

Securities companies are asked to carefully check and rectify any non-compliant stock pledge business and strengthen risk management and controls.

Supervision & Enforcement

CBIRC Identifies Numerous Violations at Small and Mid-sized Banks

By Editors | 03/09/2019

“In response … all relevant regulatory agencies should take targeted prudential supervision measures … and carry out administrative punishment according to law,” the CBIRC said.

Fraud, Scams & Cybercrime

Indian Banks Taking Nearly Two Years to Detect Fraud: RBI

By Editors | 02/09/2019

The RBI said in its annual report that banks take an average of 22 months to detect fraud, and up to 55 months for frauds involving large amounts.

Operational Risk

APRA to Improve Capabilities to Combat Non-Financial Risks

By Editors | 30/08/2019

In its four-year corporate plan, APRA identifies four areas of strategic focus, including to improve cyber-resilience and governance standards in the financial sector.

Credit Risk

MAS Offers Banks Guidance on Managing Loan Collateral

By Editors | 24/08/2019

In a review of collateral management standards and practices banks use when lending to corporates, MAS has identified four key areas that need improvement.