2022年第三季度 亚太地区金融服务监管政策更新（英）-35正式版.doc

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1、Asia Pacific Financial ServicesRegulatory UpdateQ3 2022October 2022IntroductionDear clients and colleagues,The Deloitte Asia Pacific Centre for Regulatory Strategy is pleased to share with you the key regulatory updates from our region for Q3 2022.Continued reform and enhancement of prudential regul

2、ation in boththe banking and insurance sectors: Updates to prudential regulation continue. In the last quarter, Australias prudential regulator published their supervisory plan for 2022-2023. Its key priority remains preserving the resilience of financial institutions and aims to modernise its prude

3、ntialarchitecture and strengthen cyber resilience. Australias prudential regulatoralso consulted on a new cross-industry prudential standard on operational risk management, which aims to strengthen operational risk management and the overall resilience of financial institutions. Prudential guides on

4、 financial contingency planning and resolution planning are also under consultation. The objective of these guides are to ensure that financial institutions are prepared for, and able to resolve disruptions.A proposed regulatory framework on technology risk management for consultation has been relea

5、sed in Malaysia. The proposed framework covers requirements for governance, technology risk management, technology operations and cybersecurity. The framework is expected to be integrated into current guidelines on cyber and technology risks. In China Mainland, rules on the assessment methodology fo

6、r systemically important insurance companies are under consultation. The rules aim to improve the regulatory framework for insurance entities in China Mainland and look to establish a framework for the assessment of systemically important insurers domestically.Regulators and central banks actively s

7、upport economic recovery through incentivisation, while controlling risks arising from capital markets: Supporting economic recovery remains to be a critical agenda item for central banks and regulators. Over the last quarter, regulations were amended in Indonesia to encourage banks to provide funds

8、 to priority sectors to promote economic activity. These sectors include those that are resilient to economic pressures, drive economic growth and support economic recovery, expanding the number of priority sub -sectors to 46. Measures were announced in South Korea to ensure the stability of peoples

9、 livelihood through the provision of financial support to alleviate burdens on vulnerable 2022. For information, Contacts Deloitte Touche Tohmatsu Limited.groups including lower income households and small merchants. These measures also include a financial support program tailored to the needs of sm

10、all businesses with the aim of providing liquidity support and increasing competitiveness.Enhanced regulation on payment systems, cloud, buy now pay later,and other digital activities: Ensuring the resilience of payment systems is crucial as incidents have the potential to adversely impact the stabi

11、lity of broader financial systems and/or national economies. Over the last quarter, a letter was released in Hong Kong SAR on sound practices for payment operations of authorised financial institutions to ensure the capacity to implement robust operational resilience measures for payment processes.

12、Based on the prevalence of incidents attributed to IT system malfunctions, these sound practices included a focus on the prevention of operational incidents, monitoring and business continuity planning: (i) to prevent payment -related operational incidents by, e.g., testing the new or enhanced syste

13、ms before they go live, (ii) to monitor payment operations closely through, e.g., establishing a dedicated team responsible for ongoing monitoring and (iii) to have robust business continuity planning.New regulation on payment system operations for payment service providers and payment system infras

14、tructure operators have been released in Indonesia. Its objective is to balance efforts to maintain the stability and reliability of payment system. A series of guidelines were issued in Malaysia for payment systems. These guidelines included payments and securities services governance framework par

15、ticipation rules, operational procedure and process requirements for security services and operational procedures for settlement in the Real Time Electronic Transfer of Funds and Securities System.For queries or more information on these updates or other regulatory topics, please get in touch.Best r

16、egards,The ACRS Co-leadsAsia Pacific Financial Services Regulatory Update Q3 20222 IntroductionSummaryAustraliaChina MainlandHong Kong SARIndiaIndonesiaJapanMalaysiaNew ZealandPhilippinesSingaporeSouth KoreaTaiwanThailandVietnamContactsRegulatory Hot Topics Top six most talked about themes this quar

17、terIntroductionFinancial Products,Instruments & Services25Data & Technology9UpdatesUpdatesClimate &Sustainability6Financial Risk10UpdatesUpdates 2022. For information, Contacts Deloitte Touche Tohmatsu Limited.SupervisoryApproach12UpdatesSystemic / CurrencyStability8UpdatesTaxonomy1. COVID-19 Measur

18、es2. Governance & Strategic / Reputational Risk3. Financial Risk4. Operational & Conduct Risk5. Financial Crime6. Consumer Protection7. Data & Technology8. Financial Products, Instruments & Services9. Financial Market Infrastructure10. Systemic / Currency Stability11. Enforcement12. Supervisory Appr

19、oachAsia13Pacific.ClimateFinancial &ServicesSustainabilityRegulatoryUpdate Q3 20223 SummaryAustraliaChina MainlandHong Kong SARIndiaIndonesiaJapanMalaysiaNew ZealandPhilippinesSingaporeSouth KoreaTaiwanThailandVietnamContactsAustralia (1/2)1 APRA and ASIC release Corporate PlansOn 8 August 2022, APR

20、A published its updated Corporate Plan for 2022-23. A key priority remains preserving the resilience of banks, insurers and superannuation funds. Further, APRA will modernise the prudential architecture, strengthen cyber resilience, respond to new financial activities and participants, and adopt the

21、 latest regulatory tools, techniques and practices.On 22 August 2022, the Australian Securities and Investments Commission (ASIC) released its Corporate Plan for the next four years (2022-26). The ASIC Corporate Plan focuses on design and distribution, sustainable finance, retirement decision making

22、, and technology risks, such as cyber risk and digitally enabled misconduct. ASIC also confirmed that it continues to consider litigation as a means of enforcement, if appropriate.APRA Corporate Plan (2022-23)ASIC Corporate Plan (2022-26)4APRA consults on the draft Prudential Standard, CPS 230 Opera

23、tionalRisk ManagementAPRA is consulting on a new draft Prudential Standard, CPS 230 Operational Risk Management. The new cross-industry standard consolidates five existing Prudential Standards on outsourcing (CPS 231) and business continuity management (CPS 232), across the banking, insurance, and s

24、uperannuation industries. The consolidation and streamlining of requirements are intended to be reflective of APRAs shift towards outcomes-focused and principles-based regulation. The update also includes new and enhanced requirements, emphasising the importance of effective operational risk managem

25、ent for financial institutions. The final version of CPS 230 is expected to be released in early 2023, and to come into force from 1 January 2024.Submissions to the consultation are requested by 21 October 2022.Discussion paper - Strengthening operational risk management (for Prudential Standard CPS

26、 230 Operational Risk Management)IntroductionSummary AustraliaChina MainlandHong Kong SARIndiaIndonesia2 APRA notifying regulated entities after major data breachSubsequent to a cyber-attack reported by a major Australian telecommunication entity on 22 September 2022, APRA is advising all APRA-regul

27、ated entities to undertake a thorough review and uplift controls on high-risk processes and transactions where possible. This includes areas of digital customer onboarding, and setting up first-time payees. Entities should additionally communicate to their customers and raise awareness on measures t

28、hat minimise the risk of fraud.APRA news - Optus data breach: an update for APRA regulated entities3Enhancements to strategic planning and member outcomes inSuperannuationOn 1 August 2022, APRA proposed a range of changes to the Prudential Standard, SPS 515 Strategic Planning and Member Outcomes, wh

29、ich requires trustees to evaluate their performance in delivering quality outcomes to members. The standard aims to better ensure the capacity of trustees in delivering better outcomes, increasing board oversight of financial projections, and ensuring timely action is taken to address underperforman

30、ce.Submissions to the discussion paper are requested by 11 November 2022.Discussion paper - Strategic planning and member outcomes: Proposed enhancements 2022. For information, Contacts Deloitte Touche Tohmatsu Limited.5APRA consults on guidance for financial contingency and resolutionplanningOn 6 S

31、eptember 2022, APRA began consultations on Prudential Practice Guides, CPG 190 Financial Contingency Planning and CPG 900 Resolution Planning. The guides will provide clarity on, and assist regulated entities in meeting the requirements of the equivalent prudential standards that have been proposed,

32、 i.e. CPS 190 Financial Contingency Planning and CPS 900 Resolution Planning. The core objectives of the guidance and standards will be to ensure better preparedness, and in the unlikely case of failure, the capacity to achieve orderly resolution of situations that may limit the viability of an enti

33、ty. The standards are expected to come into effect on 1 January 2024.Submissions to the consultation are requested by 6 December 2022.APRA industry letter - Consultation on draft guidance for financial contingency and resolution planning Discussion paper Strengthening crisis preparednessAsia Pacific

34、 Financial Services Regulatory Update Q3 20224JapanMalaysiaNew ZealandPhilippinesSingaporeSouth KoreaTaiwanThailandVietnamContactsAustralia (2/2)6 APRA to modernise its prudential architectureOn 12 September 2022, APRA outlined its approach to achieving one of its core strategic initiatives outlined

35、 in their Corporate Plan modernising the prudential architecture. APRAs Modernising the Prudential Architecture initiative is a multi-year program focused on makingthe regulatory framework “clearer, simpler and more adaptable,” through a series of initiatives focused on: Better regulation ensuring s

36、tandards and guidance are easy to understand, easy to navigate, and easy to implement; Digital first exploring how technology can support better regulation; and Focus on new risks, new rules developing new and innovative approaches to tackle new and emerging risks, and new technologies and business/

37、operating models within the regulatory perimeter.Media release - APRA outlines plans to modernise the prudential architecture Information paper Modernising the prudential architecture7 Reserve Bank explores use cases for a central bank digital currencyThe Reserve Bank of Australia and the Digital Fi

38、nance Cooperative Research Centre (DFCRC), a research program funded by industry partners, universities and the Australian Government, are currently assessing use cases for a central digital bank currency (CBDC). The potential emergence of a digital economy has prompted central banks to assess the p

39、otential role, benefits, risks and other implications of CBDCs. As outlined in the WhitePaper, Australian CBDC Pilot for Digital Finance Innovation, the Australian CBDC initiativeis intended to explore technological, legal and regulatory considerations.Submissions are requested by 31 October 2022.Jo

40、int media release White Paper on CBDC Research Project8 New remediation guidance releasedFollowing a two-year public consultation process, ASIC has published new remediation guidance, RG 277 Consumer Remediation, to help financial institutions remediate their customers quickly and effectively. The g

41、uide replaces RG 256 for all future remediations initiated on or after 27 September 2022, and applies to Australian financial services licensees (including superannuation trustees), and Australian credit licensees. RG 277 sets up nine core principles of remediation and rules about proactively initia

42、ting remediations, determining remediation outcomes, and delivering an appropriate outcome. The 9 principles for conducting a remediation are as follows:1. Consumers affected should be returned as closely as possible to the position they would have otherwise been in had the misconduct or other failu

43、re not occurred;2. Licensees should understand the nature, extent and impact of misconduct or other failure;3. Licensees should give consumers the benefit of the doubt, and minimise the risk of under compensation;4. Licensees should ensure key decisions are justified and documented;5. Licensees shou

44、ld apply reasonable endeavours when making remediation payments;6. Remediations should be initiated and conducted in a timely manner to ensure quality consumer outcomes;7. Remediations should be made easy for consumers by minimising complexity and, where possible, limiting their involvement in the p

45、rocess;8. Licensees must not profit from misconduct or other failure; and9. Licensees should ensure the remediation has adequate resourcing, governance andaccountability.22-260MR ASIC publishes updated and expanded remediation guidance ASIC Regulatory Guide 277 Consumer Remediation9 Quality of Advic

46、e Review: Feedback sought on Proposals PaperThe Australian Treasury is undertaking a review into the quality of financial advice. Following industry feedback on the issues paper, the Treasury is seeking feedback on proposed reforms to financial advice regulation as outlined in the Proposals Paper fo

47、r the Quality of Advice Review. These reforms are intended to simplify the regulatory frameworkto better enable the provision of high quality, accessible and affordable financial advice for Australian retail clients.The consultation period ended on 23 September 2022, and a report will be provided to the Government by 16 December 2022. Intr