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News on frameworks, regulations, and major events related to risks arising from internal processes, systems failures, human errors, or external disruptions.
Clearing & Post-Trade
AFME Considers Implications of an EU Move to T+1 Settlement
By Editors | 23/09/2022
AFME acknowledges the benefits of T+1 settlement but calls for an industry task force to be set up to conduct a detailed assessment.
Capital Adequacy
BSP Tightens Prudential Requirements for Digital Banks
By Editors | 21/09/2022
Digital banks must meet the same Basel III capital, liquidity and leverage requirements applicable to universal and commercial banks.
Operational Risk
SFC Calls for Licensed Personnel to Return to Hong Kong
By Editors | 21/09/2022
The SFC is concerned over operational risks at licensed corporations that are doing business without a responsible manager located in the city.
Operational Risk
Citigroup Submits Plans to US Regulators to Address Deficiencies
By Sanday Chongo Kabange | 21/09/2022
Citigroup has about 30,000 people working on improvements and is hiring rival bankers and former auditors to beef up its risk and compliance teams.
Structural Regulation
CSRC Issues Draft Rules on Futures Exchange Regulation
By Editors | 19/09/2022
The draft rules adopt changes to align with China’s new Futures and Derivatives Law in relation to governance and risk management, among other areas.
Cybersecurity
BIS Explores How Central Banks View Cyber Threat Landscape
By Manesh Samtani | 15/09/2022
Central banks are prioritising investment in technical security control and resiliency, embracing risk management concepts, and adopting ‘zero-trust’ models.
Emerging Prudential Risks
APRA Details Plans to Modernise Prudential Architecture
By Editors | 13/09/2022
APRA will modernise its guidance for banks, insurers and superannuation funds to make it easier to understand and comply with.
Payments & Settlements
US Appeals Court Rules for Citi in Revlon Dispute
By Editors | 12/09/2022
The court ruled that Revlon lenders cannot keep USD 500 million they were sent in error by Citigroup, which was acting as the loan agent.
Operational Risk
Taiwan FSC Fines Taishin Bank Over Debt Collection Mistakes
By Editors | 12/09/2022
The bank has been incorrectly sending debt collection notices to non-debtors for ten years due to poor internal controls, the FSC said.
Operational Risk
BOT Orders TMBThanachart to Improve Following Two-day Outage
By Editors | 12/09/2022
The bank is directed to submit a report to BOT explaining the two-day mobile banking app outage, and to prepare a plan to prevent a recurrence.
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