Compliance Resources to Help you Stay Current

A little in tune with President-elect Donald J. Trump’s proposed policies, the Internet Association sought his support in listing their priorities; key among them - immigration reform, stronger encryption, and ensuring liability protection for content that users share on their social platforms.

On the agenda:

• With effect from 1 January 2017, updated haircut schedules for assets used as collateral in monetary policy operations
• Additional adjustments to haircut schedules to take effect by the end of 2017
• Measures aimed at maintaining adequate risk protection and improving consistency of the framework with a general minimal effect on aggregate collateral amount

With the view to ensure adequate risk protection, the ECB (European Central Bank) constantly reviews and makes adjustments to its collateral eligibility rules and its risk control measures applied while accepting collateral in the Eurosystem monetary policy operations. The Eurosystem refers to the monetary authority of the Eurozone - the EU member states that have adopted the euro as their official currency.

Can AT&T Acquire Time Warner Without FCC Oversight?

Given the ocean of differences between AT&T and the FCC (Federal Communications Commission), be it in conforming to regulatory protocols or in legal disputes, the telecommunications giant seeks to acquire Time Warner, without FCC oversight. A media merger of mighty proportions sans the regulatory agency at its heels has raised questions aplenty – with guarded responses from both sides regarding its execution.

FIFA is in the news yet again. Unfortunately, this time around it’s for all the wrong reasons. The scope for corruption in a platform as vast as FIFA’s is huge. The officials caught in the latest scandal seem to have understood this all too clearly. Backed by an I-won’t-get-caught-mentality, the proportion of bribes and kickbacks offered to them has grown exponentially over the years. The regulatory authorities have stepped in hard this time around in an effort to arrest corruption but it seems to be a tough battle considering the number of nations and international sports authorities involved.

Corporate scandals, whether focused on corruption, bribery or accounting fraud, tend to have a significant impact on the economy. Some of the foremost accounting scandals of all time have astounded the financial world with their consequences. Most corporate scandals target investors, leading them to falsely believe that the company’s financial situation is better than it actually is.

Japan conceptualized and implemented this framework to motivate and monitor the management for disciplining corporate activities. It helps to provide an environment for enhancing the corporate value.

Taiwan formulated these principles to establish a sound corporate governance system, and to promote the integrity of the securities market. They are applicable to companies listed on the Taiwan Stock Exchange Corporation ("TSEC") and the GreTai Securities Market ("GTSM"), collectively referred to as "TSEC/GTSM listed companies").

These Guidelines set out the fit and proper criteria applicable to all relevant persons associated with carrying out of any activity regulated by the Monetary Authority of Singapore (MAS).

• The objective of this Guideline is to ensure that the relevant person performs the regulated activities efficiently, honestly, fairly and acts in the best interests of its or his stakeholders and customers.

This Australian Prudential Standard sets out the requirements for a general insurer and a Level 2 insurance group to maintain a risk management framework and strategy that is appropriate to the nature and scale of its operations.

This Australian Prudential Standard requires Authorized Deposit-taking Institutions (ADIs) to manage, monitor and control the potential contagion risks which arise due the ADIs being a part of a conglomerate or a corporate group and the dealings between the ADIs and members of these conglomerates or groups.

This APRA Prudential Standard requires regulated institutions to manage and monitor potential business continuity risks and that the respective boards of these institutions consider business continuity risks as a part of the entire risk management system.

This policy document on Risk Governance sets out a framework of principles to guide the board and senior management in effectively performing their risk oversight and risk control functions. These guidelines are applicable to all financial institutions. The major objective of these Guidelines is to ensure safe and sound operations of financial institutions.

After the Associated Press Twitted feed was hacked by Syrian hackers and a false tweet about an attack on the White House broadcast to the world causing the Dow Jones index to plunge, both Wall Street regulators and IT security experts are looking into making social media channels more secure.

On April 17, 2013 an explosion ripped through the West Fertilizer Co. factory in West, Texas, killing 15 people and injuring 200 others. The US Senate has just announced a probe into why the explosion at the plant occurred. The incident has raised a number of questions regarding regulatory oversight, or lack thereof, governing the functioning of factories such as the West Fertilizer plant.

Bank Negara Malaysia (BNM) has set out these Guidelines on Data Management and Management Information System (MIS) which outline high level guiding principles on sound data management and MIS practices that should be observed by financial institutions.

These guidelines implemented by the Bank Negara Malaysia (BNM) define the requirements on the obligations of financial institutions (FI) to assess and determine the fitness and propriety of key responsible persons. The major objective of these guidelines is to ensure that the financial institution is led by persons of integrity, credibility, and competency.

For the purpose of an active, fair and orderly market, the Stock Exchange of Thailand (SET) has outlined these guidelines on disclosure of public information by listed companies for informed investing on securities. The guidelines are based on the following two fundamental principles:

• All such public information should be correct, sufficient and timely.
• All the investors of a particular listed company enjoy equal access to such information.

Monetary Authority of Singapore (MAS) introduced these guidelines on risk management practices for an institution’s board of directors and senior management. The board of directors and senior management play pivotal roles in ensuring a sound risk management culture and environment. These guidelines are applicable to all financial institutions.

Malaysia introduced these guidelines with the aim of maintaining sound governance and operational arrangements in Money Services Businesses (MSB) as well as strengthening consumer protection. All licensees should ensure compliance with these guidelines.

The Monetary Authority of Singapore published its Internet Banking and Technology Risk Management guidelines in June 2008. This article provides an overview of the risk management framework that the guidelines require financial institutions to follow.