Operational risk

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Ensuring Financial Education and Consumer Protection for All in the Digital Age

OECD report discusses implications of digitization of finance for financial education and consumer protection

Organisation for Economic Co-operation and Development report explores challenges and opportunities resulting from today's digital revolution for consumers, small businesses and particularly disadvantaged groups. Highlights the need to further enhance consumer protection and financial education frameworks to more effectively target digital finance, and identifies financial literacy initiatives and policy options that can help consumers better manage any potential digital risks and benefits. Illustrates the use of digital tools to deliver financial education while addressing the role of public private and other relevant stakeholders.

Publisher: International Organizations Release date: Apr 2017

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Consumer education and protection, Operational risk

Sectors: Banking, Insurance, Pensions, Securities

Distributed Ledger Technology in Payment, Clearing and Settlement

CPMI report provides analytical framework for review and analysis of DLT arrangements

Committee on Payments and Market Infrastructure report provides an analytical framework for central banks and other authorities to review and analyze the use of distributed ledger (blockchain) technology in payment, clearing and settlement activities. Focuses on potential implications for efficiency and safety and for the broader financial markets. Framework is directed primarily at arrangements that involve restricted ledgers, reflecting the main types of arrangements currently being developed in the financial sector.

Publisher: Global Standard-Setting Bodies Release date: Feb 2017

Type: Consultative, discussion and issues paper

Topics: Operational risk, Financial market infrastructure

Sectors: Banking, Securities

The Distributed Ledger Technology Applied to Securities Markets

ESMA report provides overview of blockchain technology

European Securities and Markets Authority report looks at benefits and risks of distributed ledger technology (DLT) or blockchain technology to securities markets and how it maps to existing EU regulation.

Publisher: Regional Standard-Setting Bodies Release date: Jan 2017

Type: Consultative, discussion and issues paper

Topics: Operational risk, Financial market infrastructure

Sectors: Securities

Key Questions on Cyber Risk and Cyber Risk Insurance

Geneva Association overview of main research topics and future research directions in cyber risk and cyber risk insurance

Geneva Association report sets out main areas of research and key studies in the field of cyber risk and cyber insurance. Makes recommendations about potential role of insurers and governments in addressing cyber risks.

Publisher: Industry Groups Release date: Dec 2016

Type: Consultative, discussion and issues paper

Topics: Operational risk, Cyber risk

Sectors: Banking, Insurance, Securities

Proportionate Regulatory Frameworks in Inclusive Insurance

A2ii lessons learned from microinsurance regulation in India

Access to Insurance Initiative (A2ii) report on results of microinsurance regulations in India, supervisory approaches taken and lessons learned from past experiences. Examines ongoing and emerging market trends and challenges for insurance supervisors, particularly with regard to formalization, mass distribution and digital technology. Highlights areas where supervisory capacity-building will be highly important as inclusive insurance markets worldwide continue to innovate and grow.

Publisher: Others Release date: Nov 2016 Country: India

Type: Consultative, discussion and issues paper

Topics: Supervisory framework, Operational risk, Financial inclusion

Sectors: Microinsurance

Advisory to Financial Institutions on Cyber-Events and Cyber-Enabled Crime

FinCen advisory for banks to understand their obligations

Financial Crimes Enforcement Network advisory assists financial institutions in understanding their obligations regarding cyber-events and cyber-enabled crime. Advises on: i) reporting cyber-enabled crime and cyber-events; ii) including relevant and available cyber-related information in suspicious activity reports (SARs); iii) collaborating between Bank Secrecy Act/Anti-Money Laundering units and in-house cybersecurity units to identify suspicious activity; and iv) sharing information including cyber-related information, among financial institutions to guard against and report money laundering, terrorism financing, and cyber-enabled crime.

Publisher: National Regulators Release date: Oct 2016 Country: United States

Type: Consultative, discussion and issues paper

Topics: Operational risk, Risk management, Cyber risk

Sectors: Banking

Enhanced Cyber Risk Management Standards

FRB, FDIC and OCC consultation on enhanced standards for cybersecurity risk management

US Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency consultation on potential enhanced cybersecurity risk management and resilience standards to apply to large banks as well as to services provided by third parties to these firms. Standards would increase operational resilience and reduce impact on financial system in case of a cyber event experienced by one of these entities.

Publisher: National Regulators Release date: Oct 2016 Country: United States

Type: Consultative, discussion and issues paper

Topics: Operational risk, Risk management, Cyber risk

Sectors: Banking

Deadline for comments: Jan 2017

Singapore Payments Roadmap

MAS roadmap to promote electronic payments in Singapore

Monetary Authority of Singapore roadmap to promote electronic payments. Recommendations include: i) current regulatory regime governing payments and remittances be streamlined to create a single and modular regime that will be applied on an activity basis, rather than on specific payment systems; and ii) strengthening governance model and creating a national payments council that fosters innovation, competition and collaboration in the payments industry, including leveraging FinTech. Supports key ongoing infrastructure projects as having potential to transform payment landscape for recurring, retail and peer-to-peer payments, with the implementation of interoperable solutions. These include enabling more convenient payments through a centralized addressing system and creating a seamless consumer experience with unified point-of-sale payment terminals.

Publisher: National Regulators Release date: Aug 2016 Country: Singapore

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Operational risk, FinTech

Sectors: Banking

Guidance on Arrangements to Support Operational Continuity in Resolution

FSB guidance to ensure continuity of critical shared services

Financial Stability Board guideline sets out arrangements to ensure continuity of critical shared services, such as IT infrastructure and software-related services, which are necessary to maintain the provision of, or facilitate orderly wind down of, an institution's critical functions in resolution. Addressing these issues will help to remove impediments to cross-border resolution of failing financial institutions.

Publisher: Global Standard-Setting Bodies Release date: Aug 2016

Type: Guideline

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

Peer: Principles for Cross-Border Effectiveness of Resolution Actions , Guidance on Cooperation and Information Sharing with Host Authorities Not Represented on CMGs, Guiding Principles on the Temporary Funding Needed to Support the Orderly Resolution of a G-SIB, Continuity of Access to Financial Market Infrastructures for a Firm in Resolution

Topics: Recovery and resolution, Systemically important financial institutions (SIFIs), Cross-border cooperation, Operational risk

Sectors: Banking

Cyber Risk in the Insurance Sector

IAIS issues paper discusses cyber risk and mitigation of risks

International Association of Insurance Supervisors issue paper discusses challenges presented by cyber risk, including current and contemplated supervisory approaches for addressing these risks. Provides background, describes current practices, identifies examples, and explores related regulatory and supervisory issues and challenges. Focuses on cyber risk to the insurance sector and the mitigation of such risks.

Publisher: Global Standard-Setting Bodies Release date: Aug 2016

Type: Consultative, discussion and issues paper

Topics: Operational risk, Risk management, Cyber risk

Sectors: Insurance

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Resources

382 records

Ensuring Financial Education and Consumer Protection for All in the Digital Age

Distributed Ledger Technology in Payment, Clearing and Settlement

The Distributed Ledger Technology Applied to Securities Markets

Key Questions on Cyber Risk and Cyber Risk Insurance

Proportionate Regulatory Frameworks in Inclusive Insurance

Advisory to Financial Institutions on Cyber-Events and Cyber-Enabled Crime

Enhanced Cyber Risk Management Standards

Singapore Payments Roadmap

Guidance on Arrangements to Support Operational Continuity in Resolution

Cyber Risk in the Insurance Sector

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