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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.
Conduct, Culture & Accountability
Hong Kong Sets out Internal Audit Requirements for Authorised Institutions
By Editors | 02/11/2017
HKMA says audit functions must be separate from risk and compliance; will only allow outsourcing ‘under very limited circumstances’.
Operational Risk
Malaysia Revising Prudential Framework for Outsourcing by Financial Institutions
By Editors | 04/10/2017
Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.
Credit Risk
India Insolvency Information Utility Granted 5-year License
By Editors | 02/10/2017
Bank-owned NESL wins license to operate utility which shares information on financial contracts as part of efforts to clean up bad loans.
Market Risk
Hong Kong Belatedly Joins Singapore in Pushing Back IRRBB
By Editors | 28/09/2017
Implementation delayed by a year as firms say they might not have met original deadline due to having to make substantial changes to reporting systems.
Operational Risk
New Zealand Raises the Bar for Bank Outsourcing
By Editors | 21/09/2017
Largest banks will be required to have measures in place to survive the failure of a key service provider, according to new outsourcing policy.
Operational Risk
Top CBRC Adviser Flags Failures to Address Operational Risks
By Samuel Riding | 06/09/2017
CBRC chief adviser and former SFC chief Dr Andrew Sheng says regulation risks pro-cyclicality when real economy requires structural change.
Cloud & Infrastructure
Singapore, Australia and ‘Fundamental Regulatory Overhaul’
By Samuel Riding | 31/08/2017
Requirements on balance sheet reporting a stiff challenge for banks despite regulators’ nods to technology’s potential, says Axiom SL.
Resolution & Recovery
Singapore Regulator Issues Resolution Regime
By Samuel Riding | 24/08/2017
Resolution regime includes four stage assessment criteria for financial institutions, emphasises private sector role; to be operationalised ‘in due course’.
Clearing & Post-Trade
ISDA Urges EU Not to Force Local Clearing Post Brexit
By Editors | 23/08/2017
Trade organisation says move to local CCPs could push up initial margin costs by 20% or more; cites Australian equivalency model.
Conduct, Culture & Accountability
Pakistan’s Central Bank Releases Compliance Risk Management Guidelines
By Garima Chitkara | 10/08/2017
State Bank of Pakistan guidelines to promote a “compliance culture” in banks and encourage the adoption of a risk-focused approach to compliance.
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