The guidance focuses on corporate governance; internal control framework; risk management process; data aggregation and reporting; and scenario analysis.
December 27, 2022An IT system upgrade in April 2018 resulted in nearly 2 million TSB Bank customers being unable to access banking services.
December 22, 2022All financial entities and the third parties that provide them ICT-related services will have to adhere to DORA requirements from around the end of 2024.
December 1, 2022Regulated entities will have to obtain source code from vendors for critical applications or ensure a software escrow agreement is in place.
October 24, 2022One option is to group financial activities into a dedicated subgroup under an FHC structure. A second is to create a new regulatory category for big tech financial groups.
October 4, 2022APRA will modernise its guidance for banks, insurers and superannuation funds to make it easier to understand and comply with.
September 13, 2022Banks' agreements with CSPs should ensure the HKMA can access information stored in the cloud and relevant risk management controls for on-site examinations.
September 2, 2022Bigtech groups that are interconnected within the financial industry should be subject to group-wide requirements on operational resilience.
September 1, 2022Payment-related operational incidents have impacted banks, their customers, as well as other financial institutions, including in the securities sector.
July 31, 2022Banks are expected to implement the revised SPM module on operational risk management by 25 January 2024.
July 27, 2022