11/10/2020
PwC solution utilises DueDil tech to automate KYB for banking client
Checks that were previously conducted manually will now be fully automated using the DueDil API, enabling the client to deliver an enhanced overall customer experience.
Legal,Regulation,Tax & Compliance
11/09/2020
Cryptocurrency Lending Platform Cred Files For Bankruptcy: Users Worry For Their Funds
Cred, the US-based cryptocurrency lending platform, has filed for bankruptcy, as users become even more anxious about the state of their funds.
11/09/2020
Canada’s Tax Agency Wants Coinsquare Crypto Exchange to Fork over User Data
The Coinsquare case is similar to the IRS's 2018 demands on cryptocurrency exchange Coinbase.
11/09/2020
Ant setback signals reckoning for fintech
Decision by Chinese authorities over IPO underlines regulatory pressures on sector as it expands
11/06/2020
OECD to release framework amid inconsistent rules on crypto taxation
The Organisation for Economic Cooperation and Development is next year planning to release a tax-reporting framework for crypto-assets based on the common reporting standard (CRS).
11/06/2020
Regulators launch global fintech sandbox
This will enable firms to test “innovative financial products, services, business models or regulatory technology across more than one country or jurisdiction”.
11/06/2020
Digital asset legislation hailed as “big win”
“It shows that we are embracing the digital assets space, the Blockchain and crypto space and also provides us an avenue to new industries, which we really need. It’s going to be a big win for us.”
11/05/2020
Senior wealth management and financial advice figures gather for PIMFA’s virtual leadership summit
Among the subjects discussed were the Government’s view of the future of financial services regulation after the UK leaves the EU Single Market
11/05/2020
CMA blocks investment technology merger
The CMA has ordered FNZ to sell GBST after finding their completed merger could lead to a reduction in the quality of service and higher prices.
11/05/2020
Nordic takes over BearingPoint’s regulatory tech business RegTech
In association with Nordic Capital, RegTech has developed an ambitious growth agenda and is set to make consistent investments in the company’s forward-looking, proven, and reliable software solution suite for the expansion of its footprint in the c
11/04/2020
UAE central bank issues new rules backing FinTech firms
CBUAE Governor Abdulhamid M. Saeed Alahmadi said: "We are confident that the new SVF regulation will strengthen the public's confidence in the use of digital products and services and foster further development and innovation across the payments
11/03/2020
How Will Increased Privacy Regulation Affect Bank Marketing?
Ron van Wezel, senior analyst for the Aite Group, says privacy and data protection are becoming central to bank policies.
11/03/2020
Transforming Risk Management and Compliance: Harnessing the Power of Regtech
The HKMA strongly believes that Hong Kong has the right foundations to support a thriving Regtech ecosystem, and ultimately become a Regtech hub.
10/30/2020
Dutch Police Seize $33 Million in Bitcoin from Couple Accused of Money Laundering
The man and woman were residents of North Holland’s Hilversum and the couple will face two and a half years in prison for their crimes. Dutch prosecutors noted during the trial that the traders did not leverage proper KYC/AML guidelines while operat
10/30/2020
Criminals use real estate transactions in PH to wash dirty money — anti-money laundering body
Racela cited as an example the Maute Group that attacked Marawi City and clashed with state forces in 2017.
10/30/2020
Supreme Court of Bermuda Expands Use of Remote Hearings
applications. This was the case for the Court’s recent appointment of ‘light touch’ provisional liquidators over Samson Paper Holdings Limited (HKEx Stock Code 731, hearing on 24 July 2020) and Ping An Securities Group Holdings Limited (
10/29/2020
Data protection – changes to ODPA registration requirements
Update prepared by Helen Wyatt (Partner, Guernsey) and Jonathan Stevens (Associate, Guernsey)
10/28/2020
Credit agency told to stop sharing data without consent
Credit reference agency Experian has been sharing the personal information of millions of people without consent and must stop, the UK's information commissioner has ruled.
10/27/2020
Ant IPO sheds light on China’s new growth model
Beijing backing tech champions to speed up recovery amid pandemic and US row
10/27/2020
Westpac rolls out customer complaint resolution system
Australian bank Westpac has enlisted IBM to help build a complaint resolution platform that is now being rolled out to more than 15,000 customer-facing employees.