The FSC will improve regulations to promote fintech innovation in Korea and also support the expansion of fintech firms overseas.
August 31, 2023The rules implement "differentiated regulatory requirements" based on an institution's development strategy, business scale, complexity, and risk status.
August 2, 2023Financial institutions should be able to demonstrate that they can continue to render critical operations through significant disruptions.
July 14, 2023The standards include a "pragmatic and simplified" supervisory procedure applicable to smaller counterparts as well as easier documentation, governance and outsourcing requirements.
July 7, 2023The toolkit has been developed amid a growing reliance on third-party service providers for critical financial sector operations.
June 23, 2023For APRA's enforceable undertaking, Bank of Queensland has to set aside an extra A$50mn in regulatory capital.
May 31, 2023TSB Bank's chief information officer was fined for his management of a key outsourcing relationship fell below expected standards.
April 14, 2023RBI approval is not required for IT outsourcing arrangements, but they should be subject to on-site or off-site monitoring and inspection by regulators.
April 12, 2023Regulated entities have one month to provide SEBI with details of the cloud services they have deployed and 12 months to ensure full compliance with the new framework.
March 9, 2023The advisory calls on firms to take into account concentration risk when outsourcing multiple critical services to the same third party vendor.
February 28, 2023