Topic: Risk governance

Canadian regulator demands banks produce “comprehensive” plans for technology and cyber risk

Canada’s financial regulator will require banks to set up plans for technology development and cyber security, according to its latest guidance.

14 July 2022

UK regulators’ horizons reach the cloud under Treasury plans

The UK government has proposed expanding its financial regulators’ powers over third party providers including cloud-based data centres.

15 June 2022

MAS slaps extra capital requirements on OCBC over scam response failings

The second largest bank in Southeast Asia has been ordered to raise its regulatory capital over following criticism from Singapore’s regulator of its scam response.

01 June 2022

EBA proposes new disclosure standards for NPL sales, while reviewing national supervision

The EU has proposed new data exchange requirements for selling non-performing loans.

19 May 2022

Financial services licensees need to manage cyber risk, Australian court rules

An Australian court has ruled for the first time that cybersecurity risks should be included in financial service licensees’ risk management obligations.

16 May 2022

OCC’s Hsu calls for bank merger policy reform

The United States’ Office of the Comptroller of the Currency will review its approach to bank mergers, its acting head has said, giving his ideas on what such a review may look like after President Joe Biden’s order to regulators to prioritise a bank merger policy change.

11 May 2022

FSB urges expanded toolbox for addressing systemic climate risks

The Financial Stability Board has released its latest stock-take of regulatory efforts on the climate front – suggesting expanded use of scenario analysis and stress testing, more granular climate reporting requirements, and greater use of macroprudential tools by national regulators.

03 May 2022

Japan’s FSA focuses on profit opportunities in new climate paper

Japan’s financial regulator has stopped short of proposing obligatory frameworks for risk disclosure and climate risk management in its draft plans for handling the climate transition.

27 April 2022

FCA raises alarm over challenger banks’ customer onboarding

The UK’s Financial Conduct Authority has raised concerns over weaknesses in challenger banks’ check-ups when they are onboarding new customers.

25 April 2022

ISSB issues draft global sustainability disclosure standards

The global climate finance standard setter, established by the IFRS at last year’s COP26 summit, has proposed its first climate related disclosure standards.

04 April 2022

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