Regulated entities looking to launch crypto-asset-related operations should consult their supervisor first. A longer-term prudential framework is being developed.
April 22, 2022The rule amendments seek to address excessive regulations that have hindered digital transformation efforts in the financial sector.
April 20, 2022The RBI has bolstered its supervisory focus at banks amid findings of compliance, risk management and internal audit weaknesses.
April 5, 2022Banks and supervisors are concerned that a lack of complete supply chain transparency may increase operational risk.
April 1, 2022New practice note offers guidance on governance, outsourcing, internal controls, technology risk, and business conduct, among other areas.
March 28, 2022E-money can refer to monetary value "electronically stored in an instrument or device" - including cash cards, prepaid cards, stored value cards or digital wallets.
March 15, 2022Banks need BSP approval to enter into material outsourcing arrangements. They must also conduct periodic assessments to ensure outsourcing risks are properly managed.
February 28, 2022Participants are warned that failure to adhere to the settlement timelines stipulated by the clearinghouses would constitute an event of default, which could result in disciplinary actions.
February 13, 2022The guidelines emphasise the need for appropriate governance, differentiated controls based on the importance of outsourced functions, and awareness of concentration risk.
January 10, 2022ASIC wants market participants to be able to re-route trades to alternative venues such as Chi-X in the event of a future market outage.
November 26, 2021