Compliance Resources to Help you Stay Current

Malaysia implemented these guidelines with the objectives of promoting sound product risk management practices, to enhance consumer protection and to assign greater flexibility for financial institutions to respond to changing market conditions. This article provides a brief overview of the regulatory requirements included in the guidelines.

Bank Negara Malaysia (BNM) implemented stress testing guidelines for banks in the country in 2007. These guidelines emphasize the importance of stress testing as a risk management tool. This article provides an overview of the requirements included in the guidelines.

Malaysia released these guidelines to help clearly set out the role and responsibility of the board of directors of Islamic banks in appointing external auditors. The guidelines apply to all Islamic banks licensed under the Islamic Banking Act (IBA). They supersede the circular dated 8 August 2003, titled “Pelantikan Juruaudit Luar menurut Seksyen 17 Akta Bank Islam 1983”. This article provides a brief overview of the regulatory requirements included in the 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 security and control objectives that the guidelines detail.

The Monetary Authority of Singapore published its Business Continuity Management guidelines in 2003. These guidelines consist of sound BCM principles that businesses should adopt in order to ensure business recovery and preparedness in case of any disruption to their operations.

In September 2012, the Australian Prudential Regulation Authority (APRA) released guidelines to assist APRI regulated institutions/authorised deposit-taking institutions in complying with prudential requirements and to provide guidance on APRA’s view of good practice. This article gives a brief overview of the guidelines' requirements.

The Malaysian Code on Corporate Governance 2012 (MCCG 2012) focuses on strengthening board structure and composition as well as recognizing the role of directors as active and responsible fiduciaries. The MCCG 2012 supersedes the 2007 Code. It sets out eight broad principles and 26 specific recommendations on structures and processes which companies should adopt in making good corporate governance an integral part of their business dealings and culture. This article provides a brief overview of its guidelines:

Malaysia’s Guidelines on Anti-Money Laundering was drawn up in accordance with the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA). This article gives a brief overview of the requirements.

The Australian Prudential Regulatory Authority (APRA) Prudential Standard APS 520 Fit and Proper aims to:

• strengthen protection for depositors / policy- holders against risks involved in regulated institutions
• enhance the caliber of those charged with running APRA-regulated institutions
• establish a minimum benchmark for acceptable practice in the appointment of responsible persons /auditors

This article provides a brief overview of the regulatory requirements demanded by this standard.
 

The Australian Prudential Regulation Authority (APRA) has issued Prudential Standard APS 510 Governance, which sets out minimum foundations for good governance of regulated financial institutions. It also defines the respective roles, responsibilities and authorities of the Board and of Management in setting the direction, management and control of the organisation. These standards influence how the objectives of the company are set and achieved, how risk is monitored and assessed, and how performance is optimized. This article provides an overview of the requirements included in the standard.

The Monetary Authority of Singapore (MAS) released these risk management guidelines to provide guidance on best practices to follow with respect to credit risk. Financial institutions can utilize these guidelines for credit extension but banks may apply them to both trading and banking books. This article provides an overview and summary of requirements included in the guidelines.

The Monetary Authority of Singapore (MAS) published these Risk Management Guidelines on Market Risk in February 2006. They are aimed at helping financial institutions better cope with the risks inherent in market exposure. This article provides an overview and summary of requirements included in the guidelines.

The Thailand Corporate Governance code was published by the Stock Exchange of Thailand. It was revised in 2006 and this article gives a brief overview and summary of requirements included in the code.

The Hong Kong Corporate Governance code was published by the Stock Exchange of Hong Kong. The code was revised in 2012 and this article gives a brief overview and summary of requirements included in the code.

The New Zealand Securities Commission published “Corporate Governance in New Zealand Principles and Guidelines” in February 2004. The aim of these principles is to make sure that companies in the country are run in an ethical and compliant manner. This article provides a summary of the requirements included in this document.

The Monetary Authority of Singapore’s Risk Management Practices Guidelines dealing with internal controls makes it clear that a financial institution’s Board and senior management must establish processes, policies and procedures ensure its compliance with regulatory requirements. These policies and processes should also make sure that the institution’s operations are effective and compliant.

The new draft EU regulation on information accompanying transfer of funds was published in February 2012. It provides information about rules to be followed by the payer and the payee involved in transfers of funds so as to detect and deter crimes money laundering and terrorist financing. The new regulation is based to a large extent on the recommendations made by the Financial Action Task Force (FATF) and aims to improve traceability of payments and to ensure that the EU framework remains fully compliant with international standards.

The 2012 Singapore Corporate Governance Code supersedes and replaces the Code that was issued in July 2005. The Code is now under the purview of the Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX). This article provides a brief overview and summary of the Code’s key requirements.

The new draft EU Directive published in February 2013 aims to improve the EU's existing rules on anti-money laundering and reinforce vigilance by covered entities so as to deter crimes and corruption. The Directive also considers the recommendations of the Financial Action Task Force (FATF), the world anti-money laundering body, and follows rules sanctioned by competent authorities.

New Zealand established these risk management program requirements for non-bank deposit takers under 157M of the Reserve Bank Act 1989. This article gives an overview and summary of its key requirements.