Managers of Wealth Fintech

Rights and principles proposed to guide digital transformation

The Commission is hoping to have the draft declaration signed by summer 2022.

New requirements in force for cross-border data transfers from China

Personal data processors whether in mainland China or abroad wishing to transfer personal data outside of mainland China must obtain a separate consent from the relevant individual.

UK Digital Right to Work Checks

The UK Home Office categorises employees into ‘Settled’ and ‘Pre-Settled’ status.

Data Protection Law issued in Oman

All businesses operating in Oman should immediately begin assessing their activities and making changes to corporate policies and procedures to align with the PDPL.

UK Regulators Warn Banks to Safeguard Again Lending Discrimination if Using AI, ML

AI, in their opinions, wouldn’t make “subjective and unfair” judgments, per the report.

Former Redcentric directors convicted for misleading investors

Estelle Croft, the firm’s former finance director, had already been sentenced to three years’ imprisonment, having pleaded guilty to charges of making false statements and false accounting, including to Redcentric’s auditors, PwC.

Wealth management platform advised by A&O

The A&O team is led by private equity partner Karan Dinamani

Transforming data collection communication to firms – 10 February 2022

Communication to firms to provide an update on the progress of the joint transformation programme, which is being led by the Bank of England, FCA and industry to transformation data collection from the UK financial sector.

Kenya’s central bank seeks public input on potential CBDC

The watchdog has given Kenyans until May 20 to submit their comments on the paper that examines the dangers and possibilities of CBDC

Morocco’s Central Bank gearing up digital currency

The signatories also agreed to cooperate in digital banking services and innovative payment solutions.

Treasury and FCA move to regulate the marketing of cryptoassets in a similar way to high risk investments.

The result is that previously unregulated cryptocurrencies and cryptoassets will be brought into the financial promotion regime for the first time.

Australian judges could shape law on AI inventorship globally

In his patent applications, Thaler has named his ‘DABUS’ system as inventor, arguing that patent law supports the concept of AI inventorship.

SurePoint launches Legal Management System

The new, intuitive application provides automatic time management capabilities and ease-of-use for all law firm employees

The impact of the SFC’s and HKMA’s joint circular on intermediaries’ virtual asset-related activities

The additional investor protection measures for virtual asset-related products are not surprising.

Binance restores 79 crypto accounts’ operation after probe

“Binance has resolved 79 cases connected to account restrictions and will work towards speedy resolution of such cases.”

NatWest Group Extends Relationship with SS&C

SS&C GIDS now provides transfer agency services to more than 800,000 investor portfolios

UK to make tech firms take faster action against criminal content

Current laws generally only require tech companies such as the owners of Google or Facebook to take down this type of material if they receive a complaint.

Provision of DPT services to the public

Under the Payment Services Act (“PS Act”), entities which provide services relating to DPTs are regulated primarily for money laundering and terrorism financing risk

Digital finance: Federal Council sets out areas of action for coming years

The use of new digital technologies is opening the door for new players and leading to new products on financial markets.

The Fintech Quarterly - Fifth Edition

The fifth edition of The Fintech Quarterly covers Mayer Brown’s Fintech-related videos, webinars, articles, legal updates and podcasts from October 2021 to December 2021.

Legal,Regulation,Tax & Compliance