EU’s FiDA Regulation Nears Completion — Big Tech Faces Exclusion
After more than two years of negotiations, the European Union’s Financial Data Access (FiDA) regulation is close to being finalized. The initiative is intended to strengthen open finance by granting third parties access to financial institutions’ customer data.
ASIC Slaps ANZ with Record Penalties for Misconduct
The Australian Securities and Investments Commission (ASIC) has accused ANZ of “acting unconscionably” in its management of a $14 billion bond deal for the Australian Government, alleging the bank overstated its bond trading volumes by tens of billions of dollars over nearly two years.
Zelle Defends Fraud Protections Amid New York Lawsuit
Zelle, the popular bank-backed peer-to-peer payments service, is defending itself against a lawsuit from New York Attorney General Letitia James, who claims the platform allowed scammers to steal over $1 billion between 2017 and 2023.
Industry Pushback on BCBS Cryptoasset Disclosure Framework
In July, the Basel Committee on Banking Supervision (BCBS) released its final disclosure framework for the prudential treatment of cryptoassets, ahead of the new standard (SCO60) taking effect in January 2026. While the framework aims to provide regulatory clarity, it has been met with resistance from leading industry bodies that argue the rules do not align with the realities of crypto-related risks.
SEC Appoints First Chief AI Officer to Lead New Task Force
The U.S. Securities and Exchange Commission (SEC) has named Valerie Szczepanik, formerly head of the SEC’s Strategic Hub for Innovation and Financial Technology, as its first Chief AI Officer. In her new role, Szczepanik will lead the newly formed AI Task Force, signaling a strategic move by the SEC to embrace artificial intelligence as a tool for strengthening regulatory operations.
Barclays Fined £42M Over Money Laundering Oversight
Barclays Bank has been hit with a £42 million fine by the UK’s Financial Conduct Authority (FCA) for failing to adequately assess and monitor money laundering risks in two high-profile client relationships.
Congress Passes Groundbreaking Stablecoin Legislation as Trump Signals Support
In a significant move for cryptocurrency regulation, the U.S. House of Representatives passed the Genius Act this week—formally titled the Guiding and Establishing National Innovation for US Stablecoins. The bill aims to regulate payment stablecoins by prohibiting issuance from anyone other than approved issuers. Marking a first for national-level crypto legislation, the Genius Act provides a framework for stablecoin oversight in the U.S. and is expected to be signed into law by President Trump before the end of the week.
Wise Fined $4.2M by U.S. States Over Anti-Money Laundering Failures
Money transfer firm Wise has been fined $4.2 million by a coalition of U.S. state regulators—including New York, Massachusetts, California, Texas, Minnesota, and Nebraska—for failing to maintain adequate anti-money laundering (AML) controls.
