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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    Cloud & Infrastructure

    APAC Regulators Form New Forum to Address Cloud Risk

    By Sanday Chongo Kabange | 06/04/2023

    MAS assistant managing director Vincent Loy said the twice-a-year forum will help APAC regulators and CSPs ensure greater resilience of cloud adoption in the financial sector.

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    Operational Risk

    SFC Offers Guidance on Managing Risk in Trading Activities

    By Manesh Samtani | 04/04/2023

    The guidance covers operational risk management, remote booking risk management, and data risk management, based on a thematic review.

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    Structural Regulation

    CBIRC Issues New Branch Operation Rules for Trust Companies

    By Editors | 31/03/2023

    Trust companies can set up remote branches based on their needs, but management headquarters must be in their registered domicile.

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    Capital Adequacy

    NobleOak Life Breached Capital Requirements, Says APRA

    By Editors | 31/03/2023

    APRA said breaches are being remediated and are not connected to any recent financial market movements or developments.

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    Operational Risk

    MAS Says Latest Outage at DBS is “Unacceptable”

    By Editors | 30/03/2023

    Singapore customers of DBS were unable to access online banking services or make trades via its brokerage for around ten hours on Wednesday.

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    Capital Adequacy

    APRA Stress Tests Reveal Banking System Strength

    By Editors | 28/03/2023

    APRA chairman John Lonsdale shared findings from its latest banking stress test and reviews on cyber preparedness and resilience.

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    Anti-Money Laundering

    China Fines Bohai Bank for Third Time This Year

    By Editors | 16/03/2023

    The PBOC fined China Bohai Bank for committing 12 regulatory violations. The bank was fined twice last month for different violations.

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    Operational Risk

    Swedbank Fined for IT Incident Which Impacted 1m Customers

    By Editors | 16/03/2023

    Swedbank made a change to a business-critical IT system without following its internal procedures and processes.

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    KYC & CDD

    MAS Publishes Findings from Inspections of VC Fund Managers

    By Manesh Samtani | 16/03/2023

    Some VCFMs did not make requisite disclosures to investors, have formalised policies and procedures in certain areas, and maintain a positive level of base capital.

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    Clearing & Post-Trade

    DTCC Offers New Tool to Facilitate LIBOR Transition

    By Editors | 16/03/2023

    Widespread usage of the tool will be “an important component to help ensure a successful transition,” said Tom Wipf, who chairs the ARRC.

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