05/27/2021
American bank chiefs express caution over cryptocurrencies
Citigroup, Wells Fargo and BofA CEOs among attendees at fiery Senate hearing
Legal,Regulation,Tax & Compliance
05/26/2021
Open Banking: Why we need to rethink the ‘90 day’ rule
The ’90-day’ rule as it was soon called, started to impact open banking providers as soon as it came into force in 2018.
05/25/2021
Catch up in the cloud – regulatory reaction to COVID-19
While the industry has experienced an oft-touted acceleration towards digital services since the start of the COVID-19 pandemic, what are regulators doing to keep track?
05/25/2021
Full Steam Ahead: Second Draft of China's Personal Information Protection Law and Data Security Law
The effect of this article is that online platform service providers based overseas, may need to comply with the above requirements even if they do not have an onshore presence, and/or will have to establish an office or appoint a legal representative in
05/25/2021
Esma launches call for evidence on digital finance
Digital transformation and the application of innovative technologies in the EU financial sector bring a host of opportunities, including better financial services to a wider range of businesses and investors, possibly at a lower cost.
05/25/2021
Broctagon acquires Labuan Money Broking License
Broctagon’s new Money Broking Licence is officially approved by the Labuan International Business and Financial Centre
05/21/2021
Arab Financial Services and Discover sign network alliance agreement
Discover, Diners Club International and network alliance cardholders will be able to use their cards for the first time in Bahrain through this strategic alliance.
05/21/2021
Compatibility test: Can I process lawfully collected personal data for a new purpose?
This is also connected to other principles of processing.
05/20/2021
China bans financial, payment institutions from cryptocurrency business
China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding cryptocurrencies.
05/20/2021
European Central Bank castigates banks over instant payment fees
However, instant payments are sometimes offered to consumers for €1 per transaction.
05/20/2021
Goldman bets on UK anti-money laundering start-up
Bank invests in company aiming to benefit from efforts to combat financial crime
05/19/2021
BVI introduces data protection regime
The background to this is of course the drive for the BVI to become equivalent with the UK and European Union in this area, in particular under the EU’s General Data Protection Regulation.
05/18/2021
The rise in scams and the threat to a legitimate financial services industry
The FCA detected the promotion on the same day it appeared and started immediate inquiries.
05/17/2021
Road to Recover Class Action Proceeds Grows More Complex for Investors, Broadridge 2021 Global Class Action Annual Report Highlights
The Broadridge Global Class Action Annual Report offers an in-depth analysis of the 10 most complex class action recovery opportunities from 2020 involving financial instruments.
05/12/2021
Commission may require notification for some small mergers in digital markets
The criteria proposed present a number of potential complexities which will need to be resolved before the guidelines enter final form.
05/11/2021
Simple shutdown snafu leaves users unable to access accounts
"Our teams have worked around the clock to resolve issues and make things right. "
05/10/2021
First-ever legal framework for AI proposes obligations for developers, users and importers
The proposal also puts forward deterrent fines of up to €30 million, or 6 per cent of worldwide annual turnover in the preceding financial year, for companies flouting the data-related rules.
05/05/2021
The FRTB deadline is approaching—are you ready?
Both tests require an accumulation of data over a 12-month period that requires having processes in place for modeling, data collection and testing well ahead of time.
05/03/2021
Taxing the digitalized economy
The so called “new taxing right” would be an overlay to existing nexus and profit allocation rules.
04/30/2021
UK must learn lessons of Wirecard scandal, warn MPs
"Regulators need to be fleet of foot enough to anticipate the issues that arise as firms scale and must have the specialist knowledge to understand how these new types of institutions work."