Managers of Wealth Fintech

Block.one pays US$27.5 million to settle class-action lawsuit

They argued that token investors did not receive any of the profits from these investments, which instead went to Block.one’s executives and equity owners.

Northern Trust Partners with 3D

‘Network Monitor’ Service Supports Clients’ Focus on Overseeing Appointed Intermediaries and Meeting Regulatory Responsibilities.

Cedar Rose launches fully automated solution to digitize the onboarding process of customers for companies

With the option to work with Batch files or Cedar Rose's powerful Application Programming Interface (API), the system can be fully customized to every company's needs and existing compliance process

Conman and crypto millionaire Aram Sheibani jailed for 37 years for fraud and money laundering

The man, who has been sentenced to 37 years in jail, made a habit of flaunting his wealth on social media, including his numerous travels and cosmetic surgeries.

International Data Transfers - New Transfer SCCs

Much like the New Transfer SCCs, the Processor SCCs are likely to represent the market standard for compliance in the coming years. As such, they merit a separate update.

South Africa to regulate Cryptocurrency trading

The IFWG paper also highlighted that the recent Ponzi scheme of a Bitcoin trader late last year and other cases of market abuse has brought about the need for tighter rules around the cryptocurrency market in the country.

Global banking regulator outlines proposals for the prudential classification and treatment of cryptoassets

This marks a significant milestone in outlining, for the first time, proposals for a Basel standard on the prudential classification and treatment of cryptoassets.

VTB pilots electronic signatures

VTB's clients, which include legal entities and entrepreneurs, will be able to remotely apply for the QES issuance via online banking or in-person at the bank’s office.

Fintech firm retains Arthur Cox and PwC amid Irish unit concerns

Central Bank considering taking action against Meath-based PFS Card Services

European Commission adopts new tools for safe exchanges of personal data

The Commission can adopt standard contractual clauses for the relationship between controllers and processors, as a tool to help to demonstrate compliance with the GDPR.

Sionic and Revelock join forces to fight financial services fraud

Revelock, provider of behavioural biometric based online fraud prevention, is partnering with Sionic, the financial services consultancy, to help banks and financial services providers take a more proactive approach to detecting and responding to fraud.

Guernsey’s data protection focuses on human error vs technology

The number of personal data breaches reported by Guernsey organisations over the past two months is not reducing, but consistent with previous reporting periods.

Basel Committee launches public consultation on cryptoassets

The Bank for International Settlements' Basel Committee is set to hold a public consultation on the treatment of banks' cryptoasset exposures.

Non Fungible Tokens: Legal issues to be considered

Before the recent surge in the use of NFTs, creators faced limitations on the revenue that they could generate from their works.

Massive internet outage takes down numerous websites including UK Government

Numerous big name websites including Buzzfeed, Reddit and the Guardian vanished from the web at around 11am today.

The HKMA Unveils “Fintech 2025” Strategy

In his opening remarks for a fintech seminar organised by the Hong Kong Association of Banks

Zimbabwe to ban firms from forex auctions over 'rampant abuse'

The gap between the official and parallel market rates has widened to as much as Z$130 per U.S dollar, although authorities have maintained the rate at 84.76.

Reassessment of FNZ/GBST deal confirms competition concerns

This is because FNZ and GBST, which are both providers of retail investment platform solutions, are close competitors and few other significant suppliers offer effective and competitive alternatives.

New EU standard contractual clauses adopted: 18 month deadline to reassess international transfers of personal data from Europe

There will be a limited period of three months during which businesses can still enter into new contracts using the Old SCCs. However, these contracts will also need to be updated to the New EU SCCs within the 18-month period.

Commission proposes a trusted and secure Digital Identity for all Europeans

Use of the European Digital Identity wallet will always be at the choice of the user.

Legal,Regulation,Tax & Compliance