All posts tagged "Customer Protection"
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479AML / KYCBNM Directs Banks to Enhance Fraud Risk Controls
BNM will take supervisory and enforcement actions against banks that fail to protect their customers from fraud risk.
June 13, 2022 -
520Fintech / RegtechKorea FSS Commences Inspections of Internet-only Banks
The FSS is set to conduct 779 regular or occasional inspections on financial firms throughout this year.
April 7, 2022 -
932Crypto / Digital AssetsMAS Guidance on Stablecoins Set to Impact Crypto Firms
Stablecoins must be treated as DPTs rather than e-money. A new notice specifies a risk warning that must be provided to all customers of DPT services.
March 16, 2022 -
828Malaysia
BNM Revises Regulatory Framework for Money Services Businesses
The draft rules cover governance arrangements, operational requirements, risk management and internal controls, and IT requirements.
January 3, 2022 -
507FeatureHK Associations Published Revised Code of Banking Practice
Banks are expected to achieve full compliance with the new provisions within six months. The Code is endorsed by the HKMA.
December 13, 2021 -
328KoreaFSC Korea Orders Citi to Submit Detailed Plans on Market Exit
Citi is asked to submit a detailed plan for how it will protect consumer rights as it exits its retail banking business in Korea.
November 1, 2021 -
297EnforcementRBI Penalised StanChart, SBI for Regulatory Violations
The RBI cited non-compliance with its directions on customer protection, cybersecurity, outsourcing, and reporting.
October 19, 2021 -
288EnforcementS. Korean Financial Firms Push Back Against Executive Accountability
Six industry bodies have filed a joint request asking regulators to grant their boards more autonomy over their internal affairs rather than punishing their executives.
September 16, 2021 -
798ESG / SustainabilityJapan FSA Seeks Better Quality ESG, Climate Disclosures
The FSA plans to establish a new framework for the certification of ESG-related products. It is also exploring mandatory climate risk disclosures.
August 10, 2021 -
1.5KCrypto / Digital AssetsUPDATED – MAS Grants “In-Principle Approval” to First DPT Provider
MAS has clarified that notices have been issued to several applicants and that "in-principle approval" is not an official term.
August 2, 2021
