Bank of England slammed over outdated IT and culture
The Bank of England has been hauled over the coals by a Common Select Committee in a searing critique of its outmoded technology estate, culture and procurement activities.
Israeli committee recommends creation of crypto asset exchange
Israel's Securities Authority has been called on to help foster the creation of a national platform for trading cryptocurrencies with a view to enabling companies to raise money by issuing digital tokens.
RBI fines Indian banks over Swift compliance failures
The Reserve Bank of India (RBI) has fined at least 19 banks, including ICICI, State Bank of India and Yes Bank, for failing to comply with rules on using the Swift network.
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.
