Hotel chain Marriott International is facing a £99 million fine under GDPR rules for a massive data breach which exposed the personal data of approximately 339 million guests over a four-year period.
The vast customer data troves of the Big Tech firms challenges traditional approaches to competition policy and the maintenance of financial stability, according to the Bank for International Settlements.
The International Monetary Fund has warned that the arrival of Big Tech firms in financial markets could lead to systemic challenges to financial stability and efficiency.
The spectre of companies like Amazon, Apple, and Google entering the banking industry, was raised by IMF chief Christine Lagarde in an address to the G20 at a summit in Tokyo.
The US House of Representative is launching task forces looking into fintech and artificial intelligence in financial services.Set up by the House Committee on Financial Services, the fintech task force will look at domestic and international regulation of the nascent sector as well as the infrastructure and legal and regulatory framework for efficient payments.
The securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Québec and Saskatchewan (participating jurisdictions) today announced a co-operation agreement with the United Kingdom Financial Conduct Authority (FCA).
Barclays, BBVA, Deutsche Boerse and Swift are among the financial services sector names to join a new collective promoting the development of a global framework for the development and adoption of distributed ledger technology.