Skip to content
  • Careers
  • Support
  • Careers
  • Support
  • Industry
        • Industry

          We serve global, central and regional banks, broker-dealers, insurers, asset managers, pension funds, hedge funds, stock exchanges and clearing houses, securities services providers and corporates.

        • Overview

          • Banks
          • Broker-dealers
          • Central Banks
          • Corporates
          • Insurance Firms and Asset Owners
          • Investment Managers
          • Securities Service Providers
          • Exchanges and Clearing Houses
  • Solutions
        • Solutions

          Our end-to-end trading, treasury, risk management and regulatory compliance solutions enable financial institutions to consolidate and streamline their operations.

        • Overview

          • Overview
            • Front Office
            • Treasury
            • Middle Office & Trading Risk
            • Collateral, Margin & Securities Finance
            • Clearing
            • Post-trade Processing
          • Overview
            • Regulatory Reporting
            • Capital
            • Liquidity
            • Global Shareholding Disclosures
            • Trade & Transaction Reporting
            • ESG
  • Services
        • Services

          Our targeted solutions and services are powered by exceptional people driving innovation at scale.

        • Overview

          • Cloud
          • Customer Delivery
          • Education & Learning
  • Resources
        • Resources

          Explore our insights, read the latest regulatory updates and get details on upcoming and past events.

          • Insights
          • Regulatory Updates
          • Events
  • About
        • About

          We create and deliver market-leading solutions to help you optimize investment, unlock value and drive growth.

        • Watch Video

          • Our Story
          • Leadership Team
          • Awards
          • Partner Network
          • Locations
          • Contact Us
Search Contact
Search
  • Industry
    • Banks
    • Broker-dealers
    • Central Banks
    • Corporates
    • Insurance Firms and Asset Owners
    • Investment Managers
    • Securities Service Providers
    • Exchanges and Clearing Houses
    Industry

    We serve global, central and regional banks, broker-dealers, insurers, asset managers, pension funds, hedge funds, stock exchanges and clearing houses, securities services providers and corporates.

    Overview

  • Solutions
    Capital Markets Solutions
    • Overview
      • Front Office
      • Treasury
      • Middle Office & Trading Risk
      • Collateral, Margin & Securities Finance
      • Clearing
      • Post-trade Processing
    Risk & Financial Regulatory Reporting Solutions
    • Overview
      • Regulatory Reporting
      • Capital
      • Liquidity
      • Global Shareholding Disclosures
      • Trade & Transaction Reporting
      • ESG
    Solutions

    Our end-to-end trading, treasury, risk management and regulatory compliance solutions enable financial institutions to consolidate and streamline their operations.

    Overview

  • Services
    • Cloud
    • Customer Delivery
    • Education & Learning
    Services

    Our targeted solutions and services are powered by exceptional people driving innovation at scale.

    Overview

  • Resources
    • Insights
    • Regulatory Updates
    • Events
    Resources

    Explore our insights, read the latest regulatory updates and get details on upcoming and past events.

  • About
    • Our Story
    • Leadership Team
    • Awards
    • Partner Network
    • Locations
    • Contact Us
    About

    We create and deliver market-leading solutions to help you optimize investment, unlock value and drive growth.

    Overview

  • Careers
  • Support
Contact us

Insights

Brochures

  • Brochures, Regulatory Reporting

The APAC Regulatory Landscape

  • February 27, 2023
LinkedIn
Twitter
Facebook

View Legal Terms

MAS reporting

Even as the world was just emerging after months of global lockdowns in 2022, instrumental changes were taking place in the Asia-Pacific world of regulations, triggering the need for a strategic platform transformation. With all the preparations now in place, institutions are ready to address these requirements. But in this ever-changing regulatory environment, there is always something new around the corner. As 2023 heats up there are five strategic initiatives financial institutions must respond to.

The Start of the Granular Reporting Journey

APAC regulators led the global transition of the compliance landscape to become more data-driven with the rollout of several granular reporting programs throughout the region, including:

  • Australian Prudential Regulation Authority (APRA):  Published a consultation and a response paper on “Comprehensive Data Collection” – a five-year program that sets out its changing approach towards collecting richer data through APRA Connect, its new system.
  • Bank of Thailand (BOT): Began implementing a multi-year program called “Regulatory Data Transformation,” to replace its form-based reporting.
  • China regulators: As early adopters of granular reporting, continue to push the scope of its expansion in 2023.
  • Hong Kong Monetary Authority (HKMA): Began accepting submissions of four data catalogs as part of the granular data reporting (GDR) program. The program will be expanded in the coming years to include a more comprehensive data collection.
  • Monetary Authority of Singapore (MAS): Adopted a hybrid strategy, combining granular data points with some aggregated numbers, as evidenced by the consolidation of three reports into the Top Borrower’s Group Survey.

RegTech Drives Cloud/SaaS Adoption And Digital Transformation

Rapid development in the regulatory landscape has enabled financial institutions to engage new technologies and accelerate their compliance time-to-market even as regulatory requirements continue to mount. RegTech innovation and growth have been key to this trend.

  • Australia, Hong Kong, and Singapore continued proving themselves to be leaders and early adopters of RegTech in the region. MAS set aside financial grants for institutions to facilitate this adoption and HKMA’s Fintech 2025 strategy encourages the industry to leverage innovative RegTech technologies as part of their digitalization strategy.
  • A significant number of financial institutions, particularly in countries like Australia, Hong Kong, and Singapore, began cloud-adoption journeys for optimizing their compliance ecosystems.
  • Accelerated approvals of digital banking licenses in fast-growing economies like Malaysia and Philippines spurred a strong interest in leveraging RegTech expertise to meet new reporting requirements.

Regulatory-Driven Data Collection Initiatives

All major APAC regulators are undergoing a technology transformation including the following.

  • APRA: Began transitioning to the new APRA Connect data collection system, to be completed by 2027, allowing the authority to fully decommission its Direct to APRA (D2A) legal data collection tool.
  • BOT: Published the initial draft of specs for collecting data through API integration with financial institutions, as part of the Regulatory Data Transformation (RDT) program.
  • Bangko Sentral ng Pilipinas (BSP): Launched pilot projects for report collection through XML.
  • MAS: Implemented the data collection gateway as part of the balance sheet-report transformation.

The move towards data-driven regulation necessitates stronger data collection and better integration with financial institutions.

Finalizing and Implementing Basel Reforms

Following years of consultation, core markets such as Australia, Hong Kong, Malaysia and Singapore announced the finalized Basel III-aligned set of reforms with localized rules on top of BCBS Principles. The modified implementation timeline looks set to take effect from 2023 to 2025, presaging a very busy 2023 as ambitious projects launched over the last couple of years move to advanced stages.

2023 Is Here! Now What? Five Big Topics


With all the 2022 preparations in place, institutions are ready to address these requirements. But in this ever-changing regulatory environment, there is always something new around the corner.

For 2023, these are five of the important topics facing APAC financial institutions:

 

  1. Regulatory Landscape Automation

    Some APAC regulators – including APRA, CBIRC, HKMA, MAS, and RBI – have rolled out
    transformation programs over the last 3–5 years, triggering a wave of automation in financial
    institutions in their respective countries. Other regulators in the region are expected to
    announce similar regulatory and collection platform changes that will enable banks to optimize
    the compliance landscape and provide more meaningful data, more quickly.

    Financial institutions will take this opportunity to review their regulatory systems and get
    ready for a quicker adoption of regulatory changes.

     

  2. Continued Regulatory Push For Granular Data Reporting

    Regulators have ramped up GDR requirements across the region, including:

    APRA

    Kicks off a multi-year program to develop richer and more flexible data
    collections and implement them into APRA Connect.It will also start collecting data, as part of the comprehensive data collection.

    • Changes to the capital framework, including:

      • Operational risk capital
      • Interim credit collection
    BOT
    • RDT goes live for Phase 1
    • The scope of expansion is set for Phase 2
    HKMAExpands the scope for more financial institutions, and potentially more
    product lines.
    OTHER

    Banking-industry data-collection initiatives will be phased in overtime
    according to roadmaps published by APRA.

    • Comprehensive credit collection
    • Comprehensive liabilities collection
    • Market risk, balance sheet, and P&L
    • Cross industry
  3. Basel Reforms In More Jurisdictions

    Regulators from developing markets in the region are looking to announce localized Basel reforms to be mandated between 2024 and 2026.

     

  4. Cloud-First Policy

    Financial institutions are expected to take a cloud-first approach in response to growing regulations, increased granularity, and shortened timelines in addition to internal cost and process pressures.

    Organizations that formulated cloud-adoption strategies in 2022 are expected to roll out RegTech
    solutions on a SaaS model. We also expect more financial institutions to roll out pilot and strategic initiatives in 2023.

     

  5. Data Collection and Integration with Regulators

    Regulators continue to enhance their technology stacks; seamless data transmission between financial institutions to the regulators continues to evolve, forming the basis of data-driven regulations and replacing form-based reporting in the next few years.

Clearly, these big developments mean that firms must start preparing now for a strategic platform transformation.

Contact Us

Latest Insights

Loading...
  • Thought leadership

Adenza Wins Central Banking’s Technology Services Treasury Award 2023 for Its Cloud-Hosted Central Bank Treasury and Reserves Management Solution

  • May 29, 2023
Read more
  • Regulatory News

Basel IV in APAC (aka Basel III Reforms) – Finally Rolling!

  • May 18, 2023
Read more

Transformative journeys begin with a conversation.

Let's start one.

Contact Us
Facebook-square Instagram Linkedin-in Twitter Youtube
  • Industry
    • Banks
    • Broker-dealers
    • Central Banks
    • Corporates
    • Insurance Firms and Asset Owners
    • Investment Managers
    • Securities Service Providers
    • Exchanges and Clearing Houses
  • Services
    • Cloud
    • Customer Delivery
    • Education & Learning
  • Solutions
    • Risk & Financial Regulatory Reporting Solutions
      • Regulatory Reporting
      • Capital & Credit
      • Liquidity
      • Global Shareholding Disclosures
      • Trade & Transaction Reporting
      • ESG
    • Capital Markets Solutions
      • Front Office
      • Treasury
      • Middle Office & Trading Risk
      • Clearing
      • Collateral, Margin & Securities Finance
      • Post-trade Processing
  • About
    • Our Story
    • Leadership Team
    • Awards
    • Partner Network
    • Locations
    • Contact Us
  • Insights
  • Careers
  • Support

Subscribe

We would like to keep in touch with you by email / phone for communications regarding events, news, product launches and other marketing materials in accordance with our Privacy Policy. By subscribing, you consent to us doing that.

Subscribe
Contact Us
Facebook-square Instagram Linkedin-in Twitter Youtube
© 2023 Adenza. All rights reserved.
  • Privacy Policy
  • Terms of Use
  • Legal