Operational Risk

Cybersecurity

APRA Identifies Common Gaps in Data Backup Practices

By Sanday Chongo Kabange | 03/06/2024

APRA outlined some common issues and directed regulated entities to review their backup arrangements and address identified gaps promptly.

Operational Risk

APRA Imposes Additional Licence Conditions on Mercer Super

By Sanday Chongo Kabange | 28/05/2024

APRA has imposed additional licence conditions on Mercer Super in response to risk management and compliance deficiencies.

Supervision & Enforcement

Australian Court Rules Payday Lenders Breached Credit Act

By Sanday Chongo Kabange | 27/05/2024

The court ruled that Cigno Australia, BSF Solutions, and their directors engaged in unlicensed credit activity.

Emerging Prudential Risks

Digitisation of Finance Can Create and Amplify Risks: BCBS

By Nithya Subramanian | 17/05/2024

New BCBS report offers recommendations for banks to consider to mitigate digitalisation-related risks.

Capital Adequacy

FSA Japan Issues Order Over Use of Falsified Data in Stress Tests

By Nithya Subramanian | 16/05/2024

Avatrade Japan used falsified data in stress tests to conceal its poor results and avoid having to increase capital.

Climate Risk

ASIC Outlines Focus Areas for Financial Reporting, Auditing

By Sanday Chongo Kabange | 16/05/2024

ASIC’s priorities include certain ‘enduring focus areas’ along with climate reporting and compliance with ethical and independence standards.

Market Abuse

FCA Offers Recommendations on Avoiding Surveillance Failures

By Manesh Samtani | 14/05/2024

The FCA says failures of market abuse surveillance are often caused by faulty implementation, bugs, and incomplete data ingestion.

Supervision & Enforcement

BNM Fines 14 Banks Over Erroneous Statistical Submissions

By Sanday Chongo Kabange | 09/05/2024

The reporting failures were caused by unresolved technical issues and inadequate operating procedures.

Conduct, Culture & Accountability

US to Ban Certain Incentive-Based Compensation Arrangements

By Editors | 08/05/2024

The proposed ban will also apply to US branches of foreign banks and certain subsidiaries of US financial institutions.