Managers of Wealth Fintech

Digital Assets: What to Do When the SEC Comes Calling

Below is a series of comments shared by the legal experts that participated in the WSBA/Linklaters forum on SEC investigations.

Chris Hemsley's speech at the Westminster Business Forum - 23 January 2020

This is the text of the speech as drafted and may differ from the delivered version.

European Commission seeks public consultation on an EU framework for cryptoassets

The European Commission (EC) published a consultation document in search of opinions on a regulatory framework for markets in cryptoassets.

State Street partners with alts fintech platform iCapital Network

A strong partner with a solution that addresses the needs of the investor, fund manager and investment advisors and distributors is critical.

UK Opens $130,000 Contract to Catch Crypto Tax Evaders

HMRC is one of the UK’s largest organizations, with 60,000 full-time equivalent staff working to collect taxes.

Developments in online-only bank licensing in Asia

The Financial Services Commission has also issued a third preliminary digital licence to a consortium led by Toss

British Prime Minister, African Leaders urge Investors to accelerate Economic Role on the Continent

African Development Bank President Akinwumi Adesina announced a new $80 million Bank-DFID infrastructure financing partnership .

Cayman Islands: FinTech Comparative Guide

The sectors which CIMA regulates are banking services, insurance, trust, securities, mutual funds, cooperative and building societies, corporate services, and money services business.

Broadridge to Acquire FundsLibrary

Acquisition to help asset managers meet UK and EU regulatory requirements

UBS sells B2B fund distribution platform to Clearstream

As part of the transaction, UBS and Clearstream will enter into long-term commercial cooperation arrangements for the provision of services to UBS's Global Wealth Management and Asset Management business divisions

FINRA 2.0

FINRA will also continue to focus on the challenges that the increasingly broad array of digital communications

Consumer warning of 'profiling for profit' by fintechs

The Financial Rights Legal Centre and Consumer Action Law Centre says the enhanced privacy protections in the government's consumer data right legislation are crucial to protect customers

Proposed changes to the taxation of digital services

One of the main tax challenges identified as a focus area of the BEPS project is the digital economy and how taxing rights for cross border income generating activities should be allocated to individual countries.

EBA identifies trust challenges from growing use of Big Data and AI in finance

Trusts based elements revolve around ethics, explainability, avoidance of bias, data quality and consumer protection.

JT selected as Prime Partner to support Guernsey’s digital future

They have also worked with the States of Guernsey on key projects for over 8 years.

Sabric working 'closely' with network providers to address number-porting scam

Fraudulent number porting is not new and is done by fraudsters as an alternative to SIM swaps, so that they can receive all communications intended for the victim

MAS Receives 21 Applications for Digital Bank Licences

MAS will announce the successful applicants in June 2020. Successful applicants are expected to commence business by mid-2021.

Digital Capital Management Suing Law Firm over ‘Erroneous Advice’

From here, Digital Capital Management indicates that the firm advised them that crypto-assets are not viewed as securities.

Fintech regulation to watch in 2020

Attorneys say stakeholders are likely to see increased awareness of fintech issues in the national capital in 2020

Faegre Baker Sued by Crypto Fund Manager

The suit against Faegre Daniels alleges the firm advised the plaintiffs that “Crypto Assets are not securities” and to thus structure the fund’s business “accordingly.” The advice was “erroneous,” the complaint sa

Legal,Regulation,Tax & Compliance