Operational Risk

Conduct, Culture & Accountability

Five Steps to Address E-Comms Risk and Avoid Regulatory Penalties

By Rupal Patel | 22/12/2022

The industry is playing catch up with the impact of working from home and must ensure e-comms risk is managed in a better way, says Rupal Patel at Acin.

Operational Risk

UK Regulators Fine TSB Bank Over IT Upgrade Failures

By Editors | 22/12/2022

An IT system upgrade in April 2018 resulted in nearly 2 million TSB Bank customers being unable to access banking services.

Operational Risk

RBI Directs Banks to Improve Financial Statement Disclosures

By Editors | 22/12/2022

The RBI has asked banks to disclose more information when “Other Liabilities and Provisions” and “Other Assets” items exceed 1% of total assets.

Conduct, Culture & Accountability

SFC Fines Guosen for Regulatory Breaches Caused by Bugs

By Editors | 21/12/2022

Guosen Securities used expired standing authority of clients because its new operating system failed to send renewal notices to clients.

Resolution & Recovery

US Regulators Identify Flaws in Resolution Plans of Two Major Banks

By Editors | 20/12/2022

Credit Suisse’s resolution plan had two deficiencies relating to its cash flow forecasting capabilities and governance for its US operations. BNP Paribas had one shortcoming.

Capital Adequacy

MAS to Defer Implementation of Final Basel III Reforms

By Editors | 20/12/2022

MAS said it will defer the implementation of the final Basel III reforms in Singapore, to between 1 January 2024 and 1 January 2025.

Cryptocurrency

NYDFS Issues Guidance on Crypto-Related Activities for Banks

By Sanday Chongo Kabange | 19/12/2022

New York regulated banks, as well as branches and agencies of foreign banks licensed by the NYDFS, need prior approval to engage in virtual currency-related activities.

Capital Adequacy

Basel Rules for Cryptoassets to Take Effect in Jan 2025

By Manesh Samtani | 19/12/2022

1,250% risk weight not applicable to custodied assets. Infrastructure risk add-on no longer mandatory. Gross limit on total Group 2 exposures raised from 1% to 2%.

Structural Regulation

PBOC Issues Draft Regulations for Financial Infrastructures

By Editors | 17/12/2022

The regulations cover registration and custody systems, clearing and settlement, trading facilities, transaction reporting databases, important payment systems, and credit reporting systems.