Banks 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, 2021IOSCO's principles on outsourcing have been updated to include trading venues, intermediaries/market participants acting on a proprietary basis, and CRAs.
November 1, 2021The guidelines emphasise the need for FIs to take an end-to-end view in ensuring the continuous delivery of critical business services and functions.
October 23, 2021The EBA, ESMA and EIOPA warn of increasingly sophisticated cyber-attacks, deteriorating credit quality, and possible exuberance in markets.
September 13, 2021SGX RegCo's Boon Gin Tan and Grace Mok discuss findings from a survey of exchange members. A new guide on credit risk management has also been released.
September 7, 2021The SEC proposes more principle-based and flexible requirements for the establishment of new funds and in the investment decision process.
August 17, 2021Among the recommendations are the introduction of suitability requirements for AI-driven financial services, and add-on capital buffers based on AI algorithms.
August 17, 2021