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Conduct, Culture & Accountability
ASIC Launches Suit Against CBA Units Over Compliance Failures
By Editors | 01/03/2021
Commonwealth Bank said the issues arose from errors such as IT system coding or systems issues, human error and/or data entry errors.
Credit Risk
RBI Eases Foreign Investor Access to Defaulted Bonds
By Editors | 01/03/2021
The RBI says FPIs will be exempt from the residual maturity requirement, investment limit and investor limit when investing in defaulted corporate bonds.
Supervision & Enforcement
Malaysia Secures Settlement from AmBank to Resolve 1MDB Claims
By Editors | 01/03/2021
AmBank was used by former prime minister Najib Razak to receive billions of ringgit linked to a 1MDB unit between 2014 and 2015.
Emerging Prudential Risks
IOSCO Publishes Work Programme for 2021-2022
By Editors | 28/02/2021
New priorities will be to address the risks of NBFI activities and risks exacerbated by the Covid-19 pandemic such as misconduct, fraud and operational resilience.
Emerging Prudential Risks
Philippines to Establish Facility for Catastrophe Risk Sharing
By Editors | 28/02/2021
Domestic insurers that provide catastrophe risk coverage currently reinsure their risks overseas. The new facility will enable insurers to pool risk and resources domestically.
Credit Risk
RBI Exempts Foreign Sovereign Exposure from LEX Framework
By Editors | 27/02/2021
Exposures to foreign sovereigns or their central banks that are subject to a zero percent risk weight will be exempted from the large exposures framework.
Structural Regulation
Australia Launches ‘Buy Now Pay Later’ Code of Conduct
By Ranamita Chakraborty | 27/02/2021
The code makes AFCA membership compulsory and incorporates ASIC’s new design and distribution obligations regime.
Credit Risk
Korea FSS to Issue New Risk Management Guidelines for Insurers
By Editors | 26/02/2021
South Korean insurers recorded a combined loss of KRW 194.4 billion from overseas alternative investments due to the pandemic.
Emerging Prudential Risks
FSB Work Plan to Focus on Addressing Covid Vulnerabilities
By Editors | 26/02/2021
The FSB says it will produce an assessment of initial lessons learned from the pandemic and a report on the factors needed for an orderly unwinding of support measures.
Credit Risk
Thailand to Introduce IFRS 9 Equivalent Standards for SFIs
By Editors | 25/02/2021
The BOT has conducted a public hearing on accounting standards for specialised financial institutions, which are tasked with serving government policies.
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