The priorities highlight emerging and core risk areas for investment advisers, broker-dealers, and other entities, including cybersecurity and crypto assets. By Laura Ferrell, Aaron Gilbride, Marlon Q. Paz, Jamie Lynn Walter, Stephen P. Wink, Naim Culhaci, and Deric Behar On October 16, 2023, the Securities and Exchange Commission’s (SEC) Division of Examinations (the Division) published … Continue Reading
The guidelines aim to promote the adoption of robust practices for managing technology risks in the financial sector. By Farhana Sharmeen and Marc Jia Renn Tan On 18 January 2021, the Monetary Authority of Singapore (the MAS) issued revised guidelines (the Guidelines) to take into account the fast-changing cyber threat landscape and financial institutions’ increased … Continue Reading
Regulators consult on anti-money laundering guidelines and issue guidance on cybersecurity, best execution, and senior management accountability. By Farhana Sharmeen, Simon Hawkins, Kenneth Y.F. Hui, and Marc Jia Renn Tan This blog post summarizes key regulatory developments in Hong Kong and Singapore during September 2020, including: (i) the SFC’s consultation on enhancements to its Guideline on … Continue Reading
An ECON draft report on digital finance recommends legislative action in relation to cryptoassets and cyber resilience and a framework for digital onboarding. By Stuart Davis, Sam Maxson, and Anna Lewis-Martinez On 4 June 2020, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published a draft report setting out its recommendations to the European … Continue Reading
As COVID-19 disruptions unfold, FINRA has granted temporary relief regarding alternate working arrangements for broker-dealer employees. By Dana G. Fleischman, Stephen P. Wink, Naim Culhaci, and Deric Behar On March 9, 2020, the Financial Industry Regulatory Authority, Inc. (FINRA) issued Regulatory Notice 20-08 to members, reminding FINRA-member broker-dealer firms of their business continuity planning obligations … Continue Reading
By Andrew C. Moyle, Grace Erskine, and Charlotte Collins As leading global financial and FinTech centres, the UK and Singapore will benefit from strengthening their cybersecurity alliance. On 13 June 2019, the Bank of England, the Financial Conduct Authority, and the Monetary Authority of Singapore announced that they will be working together to strengthen cybersecurity … Continue Reading
By Christian McDermott, Calum Docherty, Stuart Davis and Anne Mainwaring The European Banking Authority (EBA) has published its consultation document on security measures for operational and security risks under the revised Payment Services Directive (PSD2). The WannaCry ransomware attack that swept across the globe last week revealed the destructive and indiscriminate nature of cyber threats. It attacked … Continue Reading
