Governance
Robinhood to Pay $45 Million to Settle SEC Regulatory Violations
Robinhood has agreed to pay $45 million to resolve multiple charges brought by the U.S. Securities and Exchange Commission (SEC) involving its brokerage operations.
EBA Issues Final Guidelines on ESG Risk Management
The European Banking Authority (EBA) has released comprehensive guidelines to help financial institutions manage Environmental, Social, and Governance (ESG) risks.
Klarna Fined $50 Million for AML Compliance Failures
Sweden's Financial Supervisory Authority (FI) has imposed a $50 million fine on Klarna for deficiencies in its anti-money laundering (AML) compliance.
Regnology acquires Vermeg's RegTech division
Regnology, a leading software provider with a focus on regulatory reporting solutions, announced today the acquisition of VERMEG‘s regulatory reporting division – AGILE – which was previously part of the Lombard Risk portfolio.
CFPB Approves FDX as First Standard Setter for Open Banking
The Consumer Financial Protection Bureau (CFPB) has approved Financial Data Exchange (FDX) as the first official standard-setting body under its new open banking framework.
Assessing the Impact of Financial Data Access Regulation
As the European Council moves forward with the Financial Data Access (FIDA) legislation, which seeks to enhance open finance by enabling financial institutions to share customer data, industry stakeholders are urging caution.
CFPB Expands Oversight to Big Tech Payment Platforms
The Consumer Financial Protection Bureau (CFPB) has highlighted the growing influence of platforms like Apple Pay and PayPal in the payments industry as Big Tech continues to blur the lines between traditional banking and commercial activities.
DoJ Finalizes Rule to Restrict Personal Data Transfers to Countries of Concern
The U.S. Department of Justice (DoJ) has implemented a final rule enforcing Executive Order 14117, aimed at curbing the mass transfer of Americans’ personal data to countries of concern, including China, Cuba, Iran, North Korea, Russia, and Venezuela.
Mastercard Settles Landmark UK Consumer Lawsuit
Mastercard has reached a settlement in a groundbreaking lawsuit initiated by consumer advocate Walter Merricks on behalf of approximately 46 million UK adults.
Hacker Sentenced for 2016 Bitfinex Crypto Heist and Money Laundering Scheme
Ilya Lichtenstein has been sentenced for his role in a massive money laundering conspiracy stemming from the 2016 hack of the cryptocurrency exchange Bitfinex. Court documents revealed that Lichtenstein infiltrated Bitfinex’s network and executed over 2,000 transactions, transferring 119,754 bitcoin—worth $70 million at the time—into a wallet under his control. The stolen cryptocurrency’s value has since skyrocketed to an estimated $10.5 billion.
FCA Advances Plans for a Regulated Crypto Market
The UK's Financial Conduct Authority (FCA) has outlined its latest steps to enhance the integrity of the country’s crypto market through a new Discussion Paper focusing on admissions, disclosures, and market abuse prevention.
EU Financial Data Access Regulation Sparks Calls for Caution
As Europe advances toward enhanced open finance with the proposed Financial Data Access (FIDA) legislation, concerns are mounting among financial industry stakeholders.
Citigroup Faces Federal Investigation Over Russian Oligarch Ties
Citigroup is under investigation by U.S. government agencies, including the Department of Justice, the FBI, and the IRS, for its connections to sanctioned Russian billionaire Suleiman Abusaidovich Kerimov, according to Barron’s.