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.
Legal,Regulation,Tax & Compliance
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.
12/06/2020
Global Fintech Regulatory Rapid Assessment Study due to Covid-19
This global study seeks to assess how central banks and other financial regulators are responding to the challenges of Covid-19 in regulating and supervising FinTech activities and other forms of Digital Financial Services (DFS).
12/06/2020
ISDA using Digital Asset clearing and DLT technical advances and international legal issues
The ISDA functions to promote safer and more efficient derivatives markets by developing standards like the ISDA Master Agreement and a wide range of related documentation.
12/05/2020
Dutch competition watchdog calls for tighter EU rules to rein in Big Tech role in payments
A market study conducted by the competition watchdog at the behest of the Dutch Ministry of Finance finds that Big Tech companies are strengthening their positions in the payments market through acquisitions and collaborations.
12/04/2020
Updraft raises £16m to help Brits break up with their credit cards
Updraft, a London-based startup promising to help users ditch their credit cards, has raised £16 million in equity and debt.
12/04/2020
US lawmakers introduce act to make stablecoin issuers get banking charter
They also claim that the Covid-19 pandemic has left many low and moderate income Americans shut out of traditional financial services.
12/03/2020
FCA: Robo advice assets up 700% in three years
Consumer awareness of robo advice was also on the up, the FCA found, with the number of people having heard of these services up from 10 per cent in 2017 to 19 per cent in 2019.
12/03/2020
Ardan International implements Financial Risk Solutions (FRS) tech to grow wealth management business
Ardan International, an Isle of Man-headquartered wealth management provider, has adopted Financial Risk Solutions (FRS) technology for its newly launched tier-one wealth management platform.