The Hong Kong Monetary Authority and Chongqing authorities have launched a platform that verifies customer data without transferring or storing original documents across the boundary. Banks are developing Northbound and Southbound use cases, initially covering services such as account opening and loan applications.

The Financial Supervisory Authority of Norway found weaknesses across Marker og Eidsberg Sparebank’s controls for cash related money laundering and terrorist financing risks. Risk classification and monitoring did not adequately reflect actual cash activity, while file reviews identified deficiencies in due diligence, investigations and repeat reporting of persistent suspicious activity to Økokrim.

The Norwegian Financial Supervisory Authority found that Njord Kapitalforvaltning’s suitability model overemphasized investment horizons, creating a risk of unsuitable advice. It also identified misleading cost and expected-return disclosures for the Onepointfive private equity fund. Njord has revised its risk-scoring model and disclosures, and the authority has taken note of the changes.

The Norwegian Financial Supervisory Authority found significant shortcomings in Norse Securities AS’s ICT governance, risk controls, supplier oversight and continuity arrangements. The firm has since implemented extensive measures that the authority considers largely sufficient to address the findings and support DORA compliance.

The Financial Supervisory Authority of Norway found that SpareBank 1 Ringerike Hadeland has broadly sound credit and liquidity risk frameworks but needs to improve default recognition and IFRS 9 Stage 3 loss calculations. The bank must clarify its default definitions, strengthen credit assessments and board reporting, and further develop climate risk management for forthcoming Capital Requirements Directive VI requirements. Its board will prepare a detailed remediation plan.

The Financial Supervisory Authority of Norway fined ES Revisjon NOK 500,000 for serious audit law breaches across four engagements. The firm failed to address fraud and revenue risks adequately, apply sufficient professional skepticism and obtain appropriate audit evidence. Its cyclical engagement reviews had also been deficient for several years.

The Swedish Financial Supervisory Authority will offer two reporting options for the first two quarters of 2027 as IFRS 18 takes effect. Firms may continue using FINREP alone or use a separate IFRS 18 module while excluding overlapping FINREP templates. Revised FINREP requirements are expected to apply from third-quarter 2027 reporting.

The Taiwan Financial Supervisory Commission approved the merger of Bank SinoPac and King’s Town Bank, with Bank SinoPac as the surviving entity. The combined bank will have NT$3.19 trillion in assets, NT$129.4 billion in capital and 191 operating locations in Taiwan.

The South Korea Financial Services Commission outlined FSB discussions on audit quality, private credit vulnerabilities and governance for financial authorities’ use of AI. Future work will address supervisory modernization, AI and cyber risks, and cross-border stablecoin cooperation. The commission also discussed financing and investor links for Korean startups and financial institutions expanding in the U.S.

The South Korea Financial Services Commission confirmed cyber breaches at 16 financial firms and about 100,000 exposed personal-information records, while finding deficiencies at 130 of 555 firms reviewed. It plans a systemwide security review, expanded threat sharing, AI-based monitoring and testing, more frequent vulnerability assessments and stronger support for smaller firms. Chief executive accountability and sanctions will also be strengthened to improve implementation.

Securities Commission Malaysia showcased capital market funding options for Sabah’s MSMEs and mid-tier companies as part of its nationwide financing roadshow. It also plans a new co-investment fund with the Ministry of Economy in 2027 for high-growth, high-value sectors, building on existing schemes that crowd in private capital. Selangor will host the next roadshow by the end of 2026.

The Financial Stability Board has proposed eight principles for modernising regulatory and supervisory frameworks while preserving or enhancing financial system resilience. They address ongoing review, proportionality, material risks, effective supervision and regulation, domestic coherence, impact analysis and streamlined reporting. The FSB plans to finalise the framework following consultation.