Managers of Wealth Fintech

Credit Suisse professes "astonishment" at Swiss money laundering charges

Credit Suisse unreservedly rejects as meritless all allegations raised against it and is convinced that its former employee is innocent.

Bahamas passes digital assets legislation for 'compliant industry'

The passage of the Digital Assets and Registered Exchanges Bill, 2020 (DARE) has put in place the legal framework for a vital, well-regulated and compliant industry in the Bahamas for those interested in entering the digital asset space, the government of

Lloyds to licence invoice financing technology from Satago

Lloyds Banking Group is to run a six month trial of an invoice financing platform from Satago Financial Solutions, with a five-year commercial contract for the product on the line.

Al Salam Bank Bahrain and FlexxPay announce Sharia compliant solution

Employees with commission-based salaries will have immediate access to already-earned commissions.

SFC provides additional guidance on external electronic data storage

The SFC today also made consequential changes to its FAQs on premises for business and record keeping.

France to resume collection of digital tax

The French government feels it is legitimate to maintain a tax for digital businesses, which it believes are not suffering as a result of the pandemic.

Federal Council brings part of DLT bill into force

The amendments to the Code of Obligations, the Federal Intermediated Securities Act and the Federal Act on International Private Law that are envisaged in the DLT bill will now enter into force from 1 February 2021.

Facebook faces multiple US lawsuits that could force sale of Instagram, WhatsApp

The lawsuits highlight the growing bipartisan consensus to hold Big Tech accountable for its business practices and mark a rare moment of agreement between the Trump administration and Democrats, some of whom have advocated breaking up both Google and Fac

US Cryptocurrency Creator Faces Criminal Tax Evasion Charges

Elmaani is charged with two counts of tax evasion, each of which carries a maximum sentence of five years in prison.

French watchdog fines Google €100m and Amazon €35m over cookies law breach

Cookies are text files that allow websites to remember consumers and their past activity.

International data transfers: new requirements for the use of standard contractual clauses

What was missing from the Schrems II ruling was any practical guidance for organisations about how to adjust their international data transfers to this new landscape.

DIFC grants Ebury financial services licence in fintech first

The licence will allow Ebury to enhance the services it offers SMEs in the region, and to do it in or from the DIFC.

BEC Moves to Full Shareholder Rights Directive II Readiness with Broadridge’s Industry Leading Solution

The firm is using the solution to support the regulatory needs across its network of 26 banks in Denmark.

MAS Awards Licences to Four Digital Bank Applicants

The licences were awarded to the Grab-Singtel consortium, a Sea Limited subsidiary, an Ant Group entity, and a consortium formed by a Chinese property giant.

iFast maintains digibank ambitions despite failed wholesale licence bid in Singapore

iFast's consortium, with China's Yillion Group and Hande Group, did not succeed.

CBA granted banking licence for Dutch subsidiary

Commonwealth Bank of Australia is a step closer to providing better access to European markets for its institutional clients post-Brexit.

Global Fintech Regulatory Rapid Assessment Study due to Covid-19

This global study seeks to assess how central banks and other financial regulators are responding to the challenges of Covid-19 in regulating and supervising FinTech activities and other forms of Digital Financial Services (DFS).

ISDA using Digital Asset clearing and DLT technical advances and international legal issues

The ISDA functions to promote safer and more efficient derivatives markets by developing standards like the ISDA Master Agreement and a wide range of related documentation.

Dutch competition watchdog calls for tighter EU rules to rein in Big Tech role in payments

A market study conducted by the competition watchdog at the behest of the Dutch Ministry of Finance finds that Big Tech companies are strengthening their positions in the payments market through acquisitions and collaborations.

Updraft raises £16m to help Brits break up with their credit cards

Updraft, a London-based startup promising to help users ditch their credit cards, has raised £16 million in equity and debt.

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