Operational Risk

    News on frameworks, regulations, and major events related to risks arising from internal processes, systems failures, human errors, or external disruptions.

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    Conduct, Culture & Accountability

    APRA Publishes Super Fund Expenditure Data for the First Time

    By Sanday Chongo Kabange | 31/10/2024

    The data shows significant spending on marketing and sponsorships, including hundreds of millions that went to the AFL and sports clubs.

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    Operational Risk

    APRA Amends Operational Risk Financial Requirement for Super Funds

    By Thisanka Siripala | 25/10/2024

    The amendments to the operational risk financial requirement (ORFR) under SPS 114 will take effect from 1 July 2025, to align with CPS 230.

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    Operational Risk

    APRA to Intensify Scrutiny of Super Fund Expenditures

    By Thisanka Siripala | 24/10/2024

    RSE licensees will have to demonstrate how they determine that expenditures are in members’ best interests and how they are related to enhancing performance.

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    Supervision & Enforcement

    RBI Halts Loan Activities of Four NBFCs Over Compliance Issues

    By Nithya Subramanian | 23/10/2024

    The RBI ordered four NBFCs to stop disbursing new loans due to excessively high rates which are non-compliant with regulatory guidelines.

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    Operational Risk

    APRA Publishes Template for Reporting Material Service Providers

    By Editors | 22/10/2024

    Regulated entities will use the template to provide their MSP register to APRA on an annual basis, as required by the new CPS 230 standard.

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    Operational Risk

    Shinhan Investment Corp Under Probe for “Unusual” Futures Losses

    By Editors | 19/10/2024

    Shinhan Investment Corp experienced a KRW 13 billion in futures trading losses while it was acting as a liquidity provider for ETFs.

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    Operational Risk

    FSB Proposes Common Format for Reporting Operational Incidents

    By Editors | 18/10/2024

    The FSB has published for consultation a common format which can be used by financial firms to report operational incidents.

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    Operational Risk

    HKMA Issues New Guidance Responding to Crowdstrike Outage

    By Sanday Chongo Kabange | 30/09/2024

    The HKMA offers guidance to authorised institutions on enhancing their operational resilience against the failure of third-party IT solutions.

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    Cryptocurrency

    Japan FSA Issues Business Improvement Order on DMM Bitcoin

    By Mark Johnston | 30/09/2024

    DMM Bitcoin has until 28 October to submit plans to the FSA specifying measures to prevent a recurrence of the bitcoin theft it suffered in May.

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    Capital Adequacy

    China Tightens Rules for Financial Leasing Businesses

    By Editors | 29/09/2024

    The rules raise the requirements for major shareholders of leasing companies and seek to improve corporate governance and risk management.

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