We are pleased to share with you the latest issue of Aurexia’s Asia Pacific Regulatory Watch, our quarterly publication on regulatory developments and their impact on banks, asset and wealth managers, insurers and the wider financial services industry in the region.<\/p>\n\n\n\n
Green Taxonomies are classification frameworks for economic activities with respect to their sustainability impact. In Singapore and Hong Kong, the respective local workgroups published their Taxonomy consultation papers with a focus on climate risk mitigation in the first half of 2023. Taxonomies are the basis for potential future regulations such as product- and company-level disclosure and labelling of financial products based on their sustainability impact.<\/p>\n\n\n\n Meanwhile, EU-headquartered banks and their activities in Asia are also impacted by the recent introduction of new technical screening criteria for four more environmental objectives under the EU Taxonomy as well as corresponding regulatory initiatives in Europe which include, for instance, EU-banks\u2019 disclosure on the taxonomy-eligibility and \u2013alignment of exposures in Asia and elsewhere.<\/p>\n\n\n\n This issue\u2019s Regtech Corner introduces BreacHunt, a French Cybersecurity Fintech. BreacHunt supports insurers with the assessment and monitoring of their cyber risk exposure. It also helps companies enhance their cybersecurity from a 360-degree perspective.<\/p>\n\n\n\n
Focus topic: Green Taxonomies in Asia\u2019s Financial Hubs<\/strong><\/p>\n\n\n\n
<\/strong>Regtech Corner \u2013 Introducing BreacHunt<\/strong><\/p>\n\n\n\n
If you have any questions or wish to discuss any regulatory topics, please feel free to contact us at any time.<\/p>\n\n\n\n