Managers of Wealth Fintech

Revolut faces US class action suit over biometric data collection

The plaintiff is seeking an order declaring that Revolut's conduct violates BIPA, requiring the firm to stop the collection, and the award of damages.

Big Tech firms begin fight back over regulatory oversight of digital wallets

These firms would have to adhere to applicable funds transfer, privacy, and other consumer protection laws.

Custodia forecasts 2024 compliance challenges in FinTech

These frameworks have expanded existing electronic communication and trade surveillance requirements, thus encompassing a wider range of market segments under record-keeping obligations.

CoinTracking releases crypto tax tool for UK investors

The leading crypto tax software since 2013, CoinTracking, has addressed these challenges and becomes the go-to solution for investors.

Temenos and Deloitte US Join Forces to Accelerate Platform Modernization of US Banks in the Cloud

Deloitte signs partnership agreement with Temenos to help large US banks modernize core banking and payments capabilities

ECB ramps up preparation phase for digital euro with calls for component providers

As such, the ECB is now calling on vendors to submit applications to lead these developments.

SEC reissues crypto ‘FOMO’ warning amid hope for spot Bitcoin ETFs

Social media users have pointed out that the regulator’s “no go to FOMO” warning comes amid heightened anticipation over spot Bitcoin ETF approva

G20 faster payments roadmap could boost financial crime

FFIS calls for ‘economic crime security by design’ to be integrated at the design stage within the payments reform policy-development process.

Revolutionising fincrime detection: Fenergo CLM & transaction monitoring’s unified approach

Fenergo steps in with its Client Lifecycle Management solution, integrated with Transaction Monitoring capabilities, to combat money laundering and terrorist financing.

ECB to run first cyber resilience stress tests

Banks will then test their response and recovery measures, including activating emergency procedures and contingency plans and restoring normal operations.

US’ FinCEN implements stricter reporting to combat financial crimes

The process is designed to be straightforward, secure, and free of charge.

2024: A critical year for fintech regulation… if policymakers step up

More delays, uncertainty and U-turns are sadly on the horizon this year

Hong Kong Proposes new Regulatory Regime for Stablecoin Issuers Alongside Sandbox Environment

Under the proposed regime, issuers would require a license from the HKMA to issue stablecoins that reference the value of one or more fiat currencies in Hong Kong.

Seychelles to Introduce Framework for Regulation of Virtual Assets and Virtual Asset Service Providers

A licence shall be required for VA Wallet Providers, VA exchanges, VA Broking, VA Payment Providers and VA Investment Providers operating in or from Seychelles.

LAB Group brings automated digital onboarding to Ironbark Asset Management

Ironbark’s clients will now experience a straightforward and easy-to-navigate sign-up process, both for direct and adviser-led prospects.

Em Conversa: Investing in Early-Stage B2B Founders in Brazil With NXTP

The fund invests in technology start-ups at the pre-seed, seed, and Series A stages with checks ranging from $500,000 to $5million.

Hong Kong Regulators Propose Mandatory Licenses for Fiat-Backed Stablecoin Issuers

The Hong Kong Monetary Authority (HKMA) and the Financial Services and the Treasury Bureau (FSTB) are also planning a sandbox to provide guidance on compliance.

nCino and Salesforce extend partnership till 2031

The expanded agreement includes deeper integration of nCino with Salesforce platform tools

Industry Reacts as PSR Finalises its Authorised APP Fraud Reimbursement Scheme

Losses due to authorised push payment scams were £239.3million in the first six months of 2023, according to UK Finance.

Binance Successfully Completes SOC 2 Type II Compliance Audit

It has also received the ISO 27001 and ISO 27701 certifications

Legal,Regulation,Tax & Compliance