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Operational Risk
News on frameworks, regulations, and major events related to risks arising from internal processes, systems failures, human errors, or external disruptions.
Operational Risk
BSP Revises Framework for External Auditor Selection by FIs
By Editors | 26/09/2024
The BSP has proposed draft revisions to its framework for financial institutions on the selection and appointment of external auditors.
Cybersecurity
MAS Forms Panel of Cyber & Technology Resilience Experts
By Nithya Subramanian | 26/09/2024
The panel comprises 13 experts who will advise MAS on technology risks and threats facing the financial sector.
Supervision & Enforcement
Australia to Launch Inquiry Into Collapse of Dixon Advisory
By Thisanka Siripala | 26/09/2024
The inquiry will explore the actions of individuals involved, ASIC’s response, and the implications for the CSLR.
Operational Risk
APRA Revises Reporting Requirements for Superannuation Entities
By Thisanka Siripala | 25/09/2024
The revisions will improve transparency on the super funds’ investment costs and trustees’ financial statements data.
Liquidity Risk
BCBS Advances Follow-up Response to 2023 Banking Turmoil
By Editors | 25/09/2024
The BCBS has finalised a new report on the lessons learned from the 2023 banking turmoil, focusing on liquidity risk. The report will be published next month.
Cybersecurity
Navigating Hong Kong’s New Critical Infrastructure Cybersecurity Framework
By Albert Yuen | 25/09/2024
Albert Yuen and Jasmine Yung at Linklaters discuss the proposed new Cybersecurity CI Framework and implications for critical infrastructure operators.
Conduct, Culture & Accountability
Korea Proposes Tighter Rules for Credit Information Agencies
By Editors | 24/09/2024
The proposed amendments aim to address two primary issues: false evaluations and the coercion of credit information companies.
Operational Risk
ASIC Issues Guidance on Identifying Critical Business Services
By Thisanka Siripala | 21/09/2024
ASIC found deficiencies in how market participants are identifying critical business services and notifying the regulator of potentially disruptive events.
Trading & Investment
Hong Kong Market Will Stay Open During Typhoons Starting Monday
By Manesh Samtani | 20/09/2024
Market participants accounting for 99.9% of the securities market and all derivatives participants have declared they are fully prepared for the reform.
Conduct, Culture & Accountability
FMA Consults on New Reporting Rules Under CoFI Regime
By Sanday Chongo Kabange | 17/09/2024
The regulatory returns ask firms to provide details on their business structure and the fair conduct programmes they must maintain under CoFI.
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