REGISTER

Compliance

US RegTech software firm Compliance.ai has raised $6 million in funding and appointed a new CEO to replace co-founder Kayvan Alikhani. The new funding comes from existing investor Cota Capital and new investment partner Jam Fintop.

Source: Smartsearch

Almost half (45 per cent) of finance and banking firms are failing to carry out crucial “ghost-buster” checks on new business clients, newly released data shows.

Block has informed the SEC that a former employee has downloaded reports, without permission, containing customer information on US Cash App users.

Barclays has rolled out automated policy management and compliance technology from regtech Clausematch to 90,000 employees around the world.

Financial services firms are falling short in their efforts to monitor employees' use of social media messaging despite ear-marking communications surveillance as an investment priority, according to recent research.

Some of the biggest players in crypto - including BlockFi, Coinbase and Robinhood - have joined forces to develop technology that helps them meet a rule designed to counter money laundering.

The Financial Conduct Authority is working with the Bank of England on a blockchain-based digital regulatory reporting initiative to tackle the growing costs of compliance checks.

Some of Canada's biggest banks are joining forces with market and infrastructure services provider CanDeal to set up a centralised KYC offering for the capital markets industry.

Shield, a workplace intelligence platform for compliance teams at financial services firms, has raised $15 million in a Series A funding round led by Macquarie Capital and OurCrowd.

Source: OCC

The Office of the Comptroller of the Currency (OCC) today issued a Cease and Desist Order against MUFG Union Bank, N.A.

Source: EBA

The European Banking Authority (EBA) today published its Guidelines specifying the role and responsibilities of the anti-money laundering and countering the financing of terrorism (AML/CFT) compliance officer and of the management body of credit or financial institutions.

Source: Wolters Kluwer Compliance Solutions

Wolters Kluwer Compliance Solutions and NYDIG, a leading provider of Bitcoin platform solutions, have reached an agreement where Wolters Kluwer will serve as an exclusive preferred vendor to interested financial institutions seeking assistance in meeting their regulatory and compliance obligations while exploring and implementing services for bitcoin programs.

Source: Cube

Financial reg tech pioneers CUBE has announced a new partnership with Sionic, the global consulting firm.

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