EU and global securities regulators welcome agreement on data transfer
The International Organization of Securities Commissions (IOSCO) and the European Securities and Markets Authority (ESMA) welcome the Opinion of the European Data Protection Board (EDPB) on their administrative arrangement for the transfer of personal data between European Economic Area (EEA) Financial Supervisory Authorities and non-EEA Financial Supervisory Authorities.
European Commission hits Mastercard with EUR570 million fine over interchange rules
The European Commission has bashed Mastercard with a EUR570 million fine for obstructing merchant access to low-cost cross-border payment services.
The financial penalty flows from an anti-trust investigation which kicked off in April 2013 and concluded that Mastercard's rules prevented retailers from benefiting from lower fees and restricted competition between banks cross border, in breach of EU antitrust rules.
US makes charges in SEC hacking scheme
US authorities have filed charges alleging crooks hacked into a Securities and Exchange Commission database to gain access to non-public information that was then used to make millions of dollars through illicit trades.
US shutdown impacts fintech market
The ongoing shutdown of the US government, sparked by a disagreement over funding for border security, is starting to impinge on the US fintech industry, according to reports.
New York to form cryptocurrency task force
New York State is to set up a cryptocurrency task force to study how to properly regulate, define and use alternative digital currencies and the technology that underpins them, blockchain.
Global regulatory alignment needed to benefit from tech advances - Deutsche Bank
The potential of open APIs, cloud, blockchain and AI to transform the financial services sector will only be realised if regulators keep up and accept the "new realities" created by emerging technologies, argues a new Deutsche Bank white paper.
US regulators suggests banks and credit unions share resources to fight financial crime
The federal depository institutions regulators and the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) today issued a statement to address instances in which certain banks and credit unions may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively.
FCA hits Tesco Bank with £16.4 million fine for cyber failings
The UK's banking watchdog has slapped the banking arm of UK supermarket chain Tesco with a £16.4 million fine for its failure to prevent a cyber attack that affected thousands of customers in 2016.
