12/28/2018
IIA takes a fresh look at risk management model
The first line of defense is management’s responsibility to effectively assess risks and to design and implement internal controls to mitigate those risks, according to Chambers.
Legal,Regulation,Tax & Compliance
12/28/2018
Silver Miller Files Lawsuit Against Creator of Alleged Crypto Ponzi Scheme
In truth, the lawsuit contends, the returns were not profits from investments, but “were simply reallocations to older investors of new investors’ assets” in a classic Ponzi scheme configuration.
12/23/2018
ICO regulations to hit the United Arab Emirates in early 2019
A “regulatory sandbox,” as explained by The National, is a “framework that facilitates the development of the financial technology industry.”
12/23/2018
Bermuda Financial Regulator Rolled Out Cryptocurrency Custody Rules
The Code published today seeks to protect the public and to clarify the Authority’s expectations in terms of the custody of digital assets.
12/21/2018
Swiss Government Says Existing Finance Laws Can Apply to Crypto
The Federal Council is a seven-member body that serves as the executive branch of the Swiss national government.
12/21/2018
Government and FCA respond to Treasury Committee’s Crypto-assets report
It is clear that the Government and the FCA share the Committee’s concerns on crypto-assets, including the lack of regulation, minimal consumer protection, and anonymity aiding money laundering.
12/21/2018
UK Government note clarifies “no deal” and data protection
The note confirms that separate draft regulations and more detailed guidance will be published in the next few weeks but, in the meantime, it clarifies at a high level a number of key issues for organisations both within the UK and outside but doing busin
12/20/2018
AfDB invests $7.5m in Africa Tech Ventures
ATV will provide seed investment to early stage companies that improve and facilitate access of essential goods and services to the underserved, effectively promoting inclusive growth.
12/17/2018
Central Bank Of Bahrain Releases Cryptocurrency Regulations Draft
In addition, the draft rules involve steps to safeguarding customers interests, cybersecurity risk management, and technology standards.
12/17/2018
Brazilian challenger Nubank breaks down doors with debit debut
This news may not be a big deal to some, but it’s another sign that Nubank is moving along fairly well and trying to shake up the old order.
12/17/2018
TransferMate buys Swiss payments firm
TransferMate - a part of Terry Clune's Taxback Group and which has added 170 jobs in the past year alone - has regulatory approval across the EU, the US and a range of other markets.
12/16/2018
Bahrain issues draft rules to regulate cryptocurrencies
The central bank has set December 31 as the deadline for feedback on the proposed regulations
12/14/2018
Blackbird’s alarm call or nightingale’s lullaby?
FCA Occasional Papers in financial regulation
12/14/2018
FG18/5: Guidance on financial crime systems and controls: insider dealing and market manipulation
The updated Financial Crime Guide sets out guidance for firms on financial crime systems and controls, including insider dealing and market manipulation.
12/14/2018
MEPs agree on new rules to tax digital companies’ revenues
Lower threshold of taxable revenues made in EU
12/14/2018
SA’s Communications Minister Takes Cybersecurity Campaign To Rural Areas
Ndabeni-Abrahams said her department is ramping up cyber safety efforts in preparation for the festive season.
12/13/2018
Philippines to Introduce Basel III Countercyclical Capital Buffer
Part of the Basel III framework, the BSP had initially decided not to adopt the CCyB, which requires banks to maintain additional capital during periods of excessive credit growth
12/12/2018
Finantix announces a strategic growth investment by Motive Partners
Finantix founders and the management team will continue to lead the company to achieve a shared vision and to ensure high service quality to all existing and future clients.
12/12/2018
Gibralter Fines WaveCrest Prepaid Crypto Card Company $315 000 for AML/CFT Failings
The company subsequently ran afoul of Gibraltar financial authorities and has now settled.
12/11/2018
HCL Technologies signs pact for digital transformation of Aegon
The Hague-based company, which serves about 29 million customers and employs over 28,000 people worldwide, wants digital scale up to improve customer self service and cement its position in the market.