The law grants regulators enhanced powers to address fraud and consumer complaints in a more timely manner.
May 19, 2022Personal data is being aggregated and exploited, without the resulting benefits being passed on to consumers and businesses generating the data.
May 6, 2022Information sharing will be allowed between FIs that do not have group relations, provided that the data sharing model is first reviewed and approved by the FSC.
May 3, 2022The guide highlights the need for banks to establish proper data and AI governance frameworks, and maintain continuous control over AI-based solutions post-implementation.
May 2, 2022The FSC will prohibit MyData services providers from buying and selling consumer data, and start conducting post-licensing inspections to ensure adequate protections are in place.
April 15, 2022Japan's revised law on the protection of personal data raises penalties for non-compliance, tightens breach reporting requirements, and gives data subjects additional rights.
April 3, 2022The plan envisions the development of a financial standard system that is in line with international standards and driven by market forces, led by the government.
February 10, 2022The law empowers financial regulators to enforce standards of business conduct by financial entities and adjudicate on consumer complaints.
February 3, 2022The open finance roadmap paves the way for greater collaboration and data sharing between FIs and fintechs, which will help boost financial inclusion.
February 3, 2022New guidance urges banks and insurers to "vigorously promote" digital financial services and further develop their data and technology capabilities.
January 31, 2022