All posts tagged "Accountability"
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686ChinaCSRC Issues Draft Rules on Cybersecurity Incident Handling
The draft rules provide new standards for categorising cybersecurity incidents based on severity, enhance incident reporting efficiency, and introduce added flexibility for punishments.
December 21, 2020 -
400EnforcementTaiwan Addresses Bank Misconduct With Higher Penalties: Fitch
Banks are expected to work to strengthen their risk controls, particularly around wealth management to avoid penalties and preserve their corporate governance rankings.
December 18, 2020 -
432Australia & NZAPRA Publishes Findings From Big Banks’ BEAR Implementation Review
CBA had the most developed approach to implement the BEAR, benefitting from the execution of its remedial action plan associated with the Prudential Inquiry.
December 11, 2020 -
1.1KContributed ArticleData Storage Rules: A Christmas Present From the SFC
While the SFC's new FAQs on the use of cloud storage make compliance more manageable, licensed corporations still need to weigh their options, says Derek McGibney at Cognitive GRC.
December 11, 2020 -
466FeatureKorea to Introduce Inspections of Personal Data Handling at FIs
The routine inspections are aimed at ensuring consistency in data protection standards in the financial sector amid a changing data industry in Korea.
December 10, 2020 -
475Australia & NZWestpac Commits to Addressing Risk Governance Weaknesses
The court enforceable undertaking requires Westpac to develop an integrated plan to address all major risk governance issues, covering both financial and non-financial risks.
December 3, 2020 -
1.4KAsia-PacificIndonesia Prepares to Launch Sovereign Wealth Fund
Indonesia will need to pay particular attention to the governance of the new fund, as Malaysia's 1MDB scandal still looms large in the minds of global investors.
November 29, 2020 -
8.7KAustralia & NZAPRA Unveils Details of New Cyber Security Strategy
Starting next year, APRA will be asking boards to engage an external auditor to comprehensively review their compliance with CPS 234 on information security.
November 27, 2020 -
613China
CSRC Updates Senior Manager Rules for Securities, Fund Operators
Securities and fund management firms are expected to establish and improve internal accountability mechanisms for senior managers, and penalise violations with clawback and malus.
November 25, 2020 -
777Australia & NZAPRA Halves CBA Operational Risk Capital Add-on
CBA has made "significant progress" in areas such as risk management and compliance, remuneration and risk culture, APRA says.
November 20, 2020
