Global Financial Regulatory Blog

Tag Archives: cybersecurity

Key Regulatory Developments in Hong Kong and Singapore: September 2020

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

European Parliament Calls for New EU Common Framework for Cryptoassets

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

FINRA Issues Guidance and Relief in Relation to COVID-19

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

UK and Singapore Regulators Announce Enhanced Cybersecurity Collaboration

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

Banking on IT

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
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