Managers of Wealth Fintech

Platform on Sustainable Finance advice to the European Commission on transition activities in the taxonomy

The Commission had asked the PSF to advise it on how the taxonomy could be used to finance transition activities.

Instagram influencer has defrauded his million followers out of $2.5 million in a Bitcoin for cash scheme – He claimed to be worth $33m but had $162 in his bank account

The 25-year-old Instagram star had induced victims to send him Bitcoin in exchange for wire transfers of cash, but he never sent the money in reality.

Fintech Geidea Receives Saudi Banking License, the First Non-Bank to do so

The new Tap on Phone solution will also have all the features of a traditional PoS (Point of Sale) terminal, including acceptance of payments from contactless cards, mobile wallets, and wearable devices.

First Decision of a German Data Protection Authority on Supplementary Measures for International Personal Data Transfers from Europe

A German publishing company based in Munich used the online service "Mailchimp".

EU directive introducing new reporting requirement for digital platforms adopted

The rules will apply as from 1 January 2023.

London forex trading boss fined for unauthorised WhatsApp investment advice

A Bow-based investment firm was found to have been giving out unauthorised investment advice via WhatsApp.

German Federal Court: German merchants are allowed to surcharge Paypal and Sofort

The issue of whether PayPal and Sofort transactions can, or cannot, be surcharged by German merchants has been controversial for quite some time.

Dentons launches Global Bid Challenge Tracker to enable quick comparison of bid challenge laws across multiple jurisdictions

Leveraging Dentons' global platform and award-winning commitment to technological innovation, the Firm launched this innovative, free platform to allow corporate leaders to create customized user-friendly comparisons of the laws.

BIS Innovation Summit 2021 “Central Bank Innovations: Payments, Data and Capabilities”

Howard Lee, Deputy Chief Executive, Hong Kong Monetary Authority

The HKMA launches Global Regtech Challenge

The Global Regtech Challenge is created with the aim of further growing the local Regtech ecosystem.

German central bank makes case for blockchain settlement in CBDC debate

It is no surprise that the Bundesbank is keen to see the fruits of its work on blockchain settlement comes to pass, having spent the past six years working on the project.

Addleshaw Goddard AG Data & Privacy News

The mandate covers the protection of privacy and confidentiality in the use of electronic communication services and is seen by the EDPB as a positive step towards a new ePrivacy Regulation.

ClearBank: Third of fintechs face regulatory scrutiny due to agency banking partners

Based on an independent survey of 100 fintechs across the Netherlands, Lithuania, Sweden, Switzerland, and the UK, a report by ClearBank reveals a multitude of challenges fintechs experience at the hands of their agency bank’s shortcomings.

Revolut applies for US banking licence

Continuing its quest for global growth, Revolut has filed a draft application for a banking licence with the Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation.

Latham & Watkins Advises Ironsource in US$11.1 Billion Despac Merger with Thoma Bravo Advantage

A cross-border team represents the business platform in the SPAC transaction that will make ironSource a publicly traded company.

Coinbase slapped with $6.5 million fine by CFTC

According to the order, between January 2015 and September 2018, Coinbase recklessly delivered false, misleading, or inaccurate reports concerning transactions in digital assets

SEC Risk Alert: Digital asset securities

For national securities exchanges, the Division will review platforms that facilitate trading in digital asset securities and review whether they meet the definition of an 'exchange' under the Exchange Act

Wise says former Brazil banking partner's fraud allegations are false

Wise (formerly TransferWise) is taking legal measures against its former Brazilian partner MS Bank, which has accused the UK-based fintech of illegally misusing customer data.

Is the UK preparing to depart from the GDPR?

In the meantime, in an interview with the Wall Street Journal, EU Justice Commissioner Reynders suggested that a replacement for the EU-US Privacy Shield could take years rather than months.

Yapily: Europe’s Next Move in Open Banking Regulation

And globally, regulators are trying to replicate the EU’s PSD2 and follow in the footsteps of the UK in paving the way for Open Finance.

Legal,Regulation,Tax & Compliance