Australia

AI Risk & Governance

Regulators Must Collectively Embrace 4th Industrial Revolution – ASIC

By Editors | 25/09/2017

Chairman Greg Medcraft expresses concern about regulatory fragmentation with increased use of technology, emergence of ICOs.

Clearing & Post-Trade

DLT Essential for Capital Market Participants to Meet Regulatory Obligations – JPX

By Samuel Riding | 21/09/2017

Market participants can’t meet diverse regulatory requirements without using DLT to share back office and post-trade functions, report suggests.

Operational Risk

New Zealand Raises the Bar for Bank Outsourcing

By Editors | 21/09/2017

Largest banks will be required to have measures in place to survive the failure of a key service provider, according to new outsourcing policy.

Anti-Money Laundering

AUSTRAC to Lead Efforts to Combat IS Funding in Southeast Asia

By Editors | 18/09/2017

Australia hopes to cooperate with other jurisdictions in SE Asia amid concern IS will turn its attention to the region after Middle East setbacks.

Structural Regulation

APRA Delays Economic and Financial Statistics Reform

By Douglas Cheung | 13/09/2017

Banks should still devote time to correctly budget, resource and plan technology projects for EFS based on the new timelines.

AI Risk & Governance

ASIC Eyes Accountability for Algorithmic System Operators

By Samuel Riding | 11/09/2017

Regulator’s chairman says each algorithmic system must have designated individual responsible for design and outcomes, echoing new bank accountability regime.

Cloud & Infrastructure

Singapore, Australia and ‘Fundamental Regulatory Overhaul’

By Samuel Riding | 31/08/2017

Requirements on balance sheet reporting a stiff challenge for banks despite regulators’ nods to technology’s potential, says Axiom SL.

Conduct, Culture & Accountability

Australian Regulator Launches CBA Inquiry

By Samuel Riding | 29/08/2017

APRA inquiry to look at whether governance, culture and accountability frameworks conflict with ‘sound risk management and compliance outcomes’.

Anti-Money Laundering

Lawyers Seek to Sue Bank for Share Price Drop after AML Revelations

By Editors | 24/08/2017

Firms claim share price would not have suffered as precipitous a decline if claims of money laundering had been revealed earlier.