Operational Risk

Credit Risk

UBS Penalised $388m Over Credit Suisse’s Archegos Failings

By Editors | 25/07/2023

US, UK, and Swiss regulators took coordinated action to punish the “unsafe and unsound” risk management practices at Credit Suisse.

Operational Risk

APRA Finalises Guidance on Super Fund Investment Governance

By Editors | 23/07/2023

The guidance covers liquidity management, stress testing, valuation practices, and ESG expectations.

Anti-Money Laundering

US Fed Fines Deutsche Bank for Slow Remediation of AML Deficiencies

By Editors | 20/07/2023

The Fed Board said Deutsche Bank made “insufficient remedial progress” under 2015 and 2017 consent orders and still has deficient AML internal controls and governance processes.

Cloud & Infrastructure

Philippines: Banks See Shift to XML-based Reporting as Beneficial, Despite Challenges

By Manesh Samtani | 19/07/2023

BSP officials and members of the banking community attended a Regulation Asia-Adenza roundtable to discuss new XML-based reporting requirements in the Philippines.

Structural Regulation

China’s AMAC Revises Rules for Private Equity Asset Management Plans

By Editors | 18/07/2023

The measures aim to refocus the private equity industry’s attention back to its core operations, minimise potential conflicts of interest, and facilitate the growth of the industry.

Operational Risk

APRA Finalises New Cross-industry Standard on Operational Risk

By Sanday Chongo Kabange | 17/07/2023

Boards should pay particular attention to ventures that may give rise to material or novel operational risks, including activities associated with crypto assets.

Operational Risk

BSP Issues Draft Guidelines on Operational Resilience

By Mark Johnston | 14/07/2023

Financial institutions should be able to demonstrate that they can continue to render critical operations through significant disruptions.

Operational Risk

NZ’s FMA Issues Proposal to Enhance Industry Operational, Cyber Resilience

By Editors | 12/07/2023

If a licensee experiences a significant disruption, they must promptly notify the FMA no later than 72 hours after the incident.

Credit Risk

HKMA Announces Orderly Exit from Loan Holiday Scheme

By Editors | 12/07/2023

The Pre-approved Principal Payment Holiday Scheme has “fulfilled its purpose and an orderly exit should commence”.