12/21/2020
Germany passes law legalizing electronic securities on blockchain
Alternatively, issuers and holders can document their securities on a blockchain-based register.
Legal,Regulation,Tax & Compliance
12/21/2020
Zoho’s 2021 finance trends predicts surge in cloud-based and AI-driven accounting
Ganti also predicted that AI will play a major role in the reconciliation process in 2021.
12/20/2020
China could restrict bank tie-ups with fintech platforms, official suggests
We can limit the number of banks that any single platform can work with
12/18/2020
Missouri Farm Bureau Selects SS&C for Insurance Accounting
Insurer moves to SS&C SmartSource powered by SS&C’s Singularity for investment accounting services
12/18/2020
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.
12/16/2020
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
12/14/2020
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.
12/14/2020
Al Salam Bank Bahrain and FlexxPay announce Sharia compliant solution
Employees with commission-based salaries will have immediate access to already-earned commissions.
12/11/2020
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.
12/11/2020
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.
12/11/2020
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.
12/10/2020
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
12/10/2020
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.
12/10/2020
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.
12/10/2020
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.
12/09/2020
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.
12/08/2020
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.
12/07/2020
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.
12/07/2020
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.
12/07/2020
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.