06/08/2022
New licences issued for digital bank
The bank’s initial complement of staff will be less than 40, but it will grow to about 100 within a short period of time, with training and opportunity for Bermudians.
Legal,Regulation,Tax & Compliance
06/07/2022
US DOJ Brings Its First-Ever Insider Trading Prosecution Involving Digital Assets
This Legal Update provides background, further detail on the indictment and takeaways for companies and investors dealing in digital assets.
06/06/2022
Industry Group Warns Against New Chinese Cybersecurity Rules
According to the letter, ASIFMA expressed concerns that passing on sensitive data will make financial firms vulnerable to «hackers and other bad actors».
06/06/2022
The Financial Services Commission Confirms Processing Fees and Licensing Criteria
The FSC is confident that the Processing Fees Regulations will foster early bird applications for the VASP licences and registration of initial token offerings
06/03/2022
CFTC sues Gemini over 'false statements' relating bitcoin futures plan
Gemini staff "knew or reasonably should have known" that the statements were false or misleading, says the CFTC.
06/03/2022
GeoWealth Enhances its Enterprise Technology Platform by Integrating 55ip’s Tax-Smart Portfolio Implementation Capabilities
Ongoing tax-loss harvesting and tax management capabilities are critical to advisors seeking to grow their business
06/02/2022
Old dogs, new tricks: adapting central bank balance sheets to a world of digital currencies − remarks by Andrew Hauser
Given at Federal Reserve Bank of New York and Columbia SIPA Workshop on ‘Monetary Policy Implementation and Digital Innovation’, New York
06/02/2022
Singapore's New Trade Data Sharing Platform Aims to Stem Fraud
The platform's participants include bunker suppliers, cargo traders, oil terminals, traders, shipping carriers, the Singapore port operator and others.
06/02/2022
Basel Committee progresses work on climate risk and crypto asset regulation
The Committee's agreement will not affect the classification of any banks as G-SIBs or the scores or bucket allocations of banks outside of the EBU.
06/01/2022
Australian competition watchdog sues Mastercard
The agreements meant that these businesses would not process significant debit card volumes through the eftpos network even though eftpos was often the lowest cost provider.
06/01/2022
MAS Launches Project Guardian to Pilot Use Cases in Digital Assets
The regulator will also be looking to establish a trusted environment for the execution of DeFi protocols through a common trust layer of independent trust anchors.
06/01/2022
Vertiv Signs Channel Distribution Agreement with Tech First Gulf (TFG) Covering East Africa
With Vertiv we are confident to continue our journey of innovating and disrupting the IT infrastructure growth with Vertiv industry-leading infrastructure solutions.
05/31/2022
Carey Olsen advises Brazilian fintech
The Series A funding round was led by venture capital firm Canaan
05/31/2022
FCA Review of AML failings at challenger banks
The use of innovative technology and non-traditional methods of identity verification (such as passport photo images and video selfies) have enabled customers to be onboarded quickly.
05/31/2022
MAS Partners the Industry to Pilot Use Cases in Digital Assets
Through Project Guardian, we aim to address real market issues, such as fragmented liquidity venues
05/30/2022
Dutch neobank Brand New Day selects Sentinels for AML compliance
This was a key factor in Brand New Day’s decision to choose Sentinels, as the regtech is designed to scale with companies and provide actionable insights no matter what their active compliance needs are.
05/30/2022
EU data protection guidance brings welcome news for UK suppliers
Businesses will no longer be able to rely on the 2004 or 2010 SCCs to transfer data to third countries from 27 December this year.
05/26/2022
Ireland Update: GDPR Fourth Anniversary
This update looks at those common themes in Ireland and across Europe.
05/26/2022
10x And Westpac Partner To Launch A Robust, Scalable And Flexible Transaction Banking Platform
10x Banking is going from strength to strength with clients across three continents
05/25/2022
Sweden's Financial Supervisory Authority hands out €9.5m fine to digital bank
The SFSA says in their decision that Nordnet has not had a satisfactory level of internal governance and control in relation to EU's short-selling regulation.