Regulated entities will have to obtain source code from vendors for critical applications or ensure a software escrow agreement is in place.
October 24, 2022APRA expects all trustees to evaluate and improve their processes for selecting, monitoring and overseeing outsourcing arrangements.
October 8, 2022At least 20 alternative investment funds are under scrutiny for practices such as dividend stripping, priority payouts, and opaque valuation policies.
September 16, 2022Revolut is required to submit a business improvement plan by 3 October and file quarterly progress reports until implementation is complete.
September 7, 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, 2022Regulated entities must ensure they and their agents do not resort to intimidation or harassment of any kind against any person in their debt collection efforts.
August 16, 2022Philip Keller outlines key considerations for banks when establishing a protocol to ensure data can only be shared in a safe, reliable, timely, and complete manner.
August 15, 2022MAS conducted thematic inspections on the operational risk management standards and practices of selected banks, with a focus on third party risk management.
August 8, 2022APRA proposes to introduce a new cross-industry prudential standard on operational risk management, which also covers third-party service providers.
July 29, 2022Banks, insurers and non-bank deposit takers will need a ‘financial institution licence’ issued by the FMA starting in early 2025.
July 21, 2022