Prudential Risk

Cybersecurity

Taiwan to Require IT Security Enhancements at Financial Firms

By Editors | 10/08/2020

The FSC will require big financial firms to be able to restore operations within four hours after a disaster (possibly less for securities firms), among other measures.

Trading & Investment

Korea: FSS to Probe Frozen Notes Linked to Singapore, Hong Kong

By Sanday Chongo Kabange | 10/08/2020

The FSS reportedly wants to determine why redemptions in some structured notes linked to Singapore trading firms have been frozen.

Data Privacy

CBIRC Fines Two Major Banks for Data Privacy Breaches

By Editors | 09/08/2020

China Merchants Bank and Bank of Communications were fined for failing to protect the personal data of credit card customers.

Capital Adequacy

MAS Calls on Finance Companies to Moderate Dividends

By Editors | 08/08/2020

The dividend restriction is a pre-emptive measure to bolster the finance companies’ ability to continue to support the credit needs of businesses and consumers.

Credit Risk

RBI Adopts New Measures to Ease Covid-19 Financial Stress

By Editors | 06/08/2020

A new resolution framework will allow banks to continue to maintain the ‘standard’ classification for corporate borrowers in resolution rather than downgrade the account, among other measures.

Resolution & Recovery

PBOC to Authorise Bankruptcy Filing of Baoshang Bank

By Editors | 06/08/2020

The decision was made based on “severe insolvency” found at Baoshang Bank. The last commercial bank allowed to go bankrupt in China was in 2001.

Cybersecurity

Australia Unveils Cyber Security Strategy for 2020

By Editors | 06/08/2020

Law enforcement will receive funding to bolster its ability to go after cyber criminals, complemented by the use of AUSTRAC’s financial intelligence expertise to target their profits.

Operational Risk

BCBS Proposes Principles to Promote Operational Resilience at Banks

By Manesh Samtani | 06/08/2020

The principles aim to increase bank resilience to operational risk shocks, such as those arising from pandemics, cyber incidents, technology failures and natural disasters.

Trading & Investment

APAC Firms Lag in IBOR Transition Preparation – Report

By Manesh Samtani | 05/08/2020

Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.