The CFTC is seeking to require derivatives dealers to exercise more due diligence and oversight of the third-party service providers.
March 13, 2023On-site inspection will be initiated "immediately" in the event that financial services are interrupted for more than three hours due to a computer accident.
January 3, 2023The FSB also proposes to develop a common format for cyber incident reporting, to promote global convergence and better communication among authorities.
October 18, 2022Banks need BSP approval to enter into material outsourcing arrangements. They must also conduct periodic assessments to ensure outsourcing risks are properly managed.
February 28, 2022The guidance has been updated to align with the Financial Accountability Regime and provide additional examples of better practices to help entities transition smoothly.
October 21, 2021Following the launch of the first phase in September 2019, the second phase of open banking will involve the exchange of customer data.
January 11, 2021S&P Global Ratings says Hong Kong’s approach to open banking makes it hard for third-party service providers to participate, limiting the potential of the new digital ecosystem.
October 3, 2019