Resolution & Recovery

More Work Needed on Resolution Plans for CCPs, Insurers: FSB

09/12/2022

The FSB said resolution planning for G-SIBs is maturing but more progress is needed on the development of resolution plans for CCPs and insurers.

Data Privacy

Australia to Expand CDR to Enable Action Initiation

08/12/2022

Under a new bill in Parliament, consumers will be able to instruct accredited third parties to initiate CDR‑powered actions on their behalf.

Structural Regulation

IFSCA Mulls Introduction of VCC Structure in GIFT City

08/12/2022

An expert committee set up by the IFSCA in 2020 has proposed a legal framework for introducing the VCC structure for funds operating in GIFT City.

Structural Regulation

China Tightens Regulations on the Use of the Word “Bank”

08/12/2022

Banks and insurers are required to report entities that are discovered using the word “bank” illegally, and may not provide services to such entities.

Capital Adequacy

RBI Issues Revised Regulatory Framework for UCBs

08/12/2022

The four-tiered regulatory framework for UCBs will allow the RBI to prescribe more differentiated requirements based on size.

Fraud, Scams & Cybercrime

Philippines Jails Former Bankers for Creating False Loans

08/12/2022

Former chief operating officer and former compliance officer of now-defunct Orani Rural Bank created fictitious loans by falsifying documents.

Sustainable Finance

BOT, UK Government Agree to Cooperate on Sustainable Finance

08/12/2022

The UK and BOT will work together to improve financial inclusion, as well as promote sustainable finance and sustainability-related disclosures in the Thai financial sector.

Fraud, Scams & Cybercrime

MAS Bans Former UOB, OCBC Representative for 15 Years

08/12/2022

The former representative deceived seven customers into transferring S$2mn to his personal bank accounts by promoting fictitious fixed deposits and other investment products.

Climate Risk

Banks Get New Guidance on Financing Net Zero in Agriculture

08/12/2022

The new guidance sets out four key steps for setting agricultural emissions targets and calls on banks to engage with farmers on sustainable strategies.