Governance
Financial regulators need to get to grips with Big Tech - BBVA
Defining a suitable regulatory response to the appearance of Big Tech in the financial sector is "one of the greatest public policy challenges facing regulatory bodies", says BBVA in a report which calls on financial watchdogs to address the imbalance on data access between banks and firms such as Google, Amazon and Facebook.
CCAF, World Bank and the World Economic Forum investigate Covid-19's impact on global fintech
The Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School is partnering with the World Bank Group and the World Economic Forum to launch a Global Covid-19 FinTech Market Rapid Assessment Survey. The empirical data collected will be used to understand Covid-19’s impact on the FinTech markets, how the global FinTech industry has responded and some of the immediate regulatory and policy implications.
FCA director speech on regulation of cryptoassets
Speech by Therese Chambers, Director of Retail and Regulatory Investigations at the FCA, delivered at The Advancement of Digital Assets and Addressing Financial Crime Risk, New York.
Regulation and anti-competitive behaviour hitting Australian fintech
Australian fintechs have called on the Government and regulatory bodies to bring in new laws to crack down on incumbent banks, who are accused of engaging in anti-competitive practices to inhibit competition in financial services provision.
US regulator signals change to digital banking rules
A US federal banking regulator has called for public feedback on the use of cryptocurrencies ahead of what could be a change in the rules on digital banking.
DTCC calls for industry-wide push to handle DLT security risks
The US Depository Trust and Clearing Corporation is floating the idea of forming an industry consortium to develop a coordinated strategy for addressing security risks in the implementation of distributed ledger technology in financial services.
Dubai regulator takes the wraps off cyber threat intelligence sharing platform
The Dubai Financial Services Authority (DFSA) launched the first financial regulator-led Cyber Threat Intelligence Platform (Platform) in the region in collaboration with the Dubai Electronic Security Center (DESC), the National Computer Emergency Response Team for the UAE (aeCERT), the Computer Incident Response Center Luxembourg (CIRCL) and the Open Source Threat Intelligence and Sharing Platform Project (MISP).
G20 TechSprint Initiative invites firm to tackle regulatory challenges
The Saudi G20 Presidency and the Bank for International Settlements (BIS) Innovation Hub are launching a virtual hackathon-style competition to find new technological ways to tackle financial regulatory compliance and supervision challenges.
US charges four members of Chinese military over Equifax hack
The US Department of Justice has charged four members of the Chinese military over the massive 2017 cyber-attack on credit reporting agency Equifax.
US banks put on red alert as Iran crisis deepens
The US Government's increasingly belligerent confrontation with Iran has prompted New York's Department of Financial Services to urge banks to heighten cybersecurity precautions.
The Iranian government has vowed to retaliate against the United States for the death of Qassem Soleimani, the Middle East country's most prominent military commander.
MAS rolls out $125 million Covid-19 support package for banks and fintechs
The Monetary Authority of Singapore has put together a S$125 million Covid-19 support package to help fintech firms and financial institutions ride out the current slump in economic activity.
FS firms hit with $36bn in AML, KYC and sanctions fines since financial crisis
Financial services firms have been hit with a total of $36 billion in fines since the financial crisis for non-compliance with anti-money laundering, know your customer and sanctions regulations around the world.
EC expert group issues call to action on fintech regulation
A European Commission (EC) Expert Group has called on regulators to respond to the changing nature of fintech by adapting the rule book and legal frameworks to encourage innovation and dampen emerging risks.