08/05/2022
Kenya beefs up consumer data protection
The law requires that all entities that process data must register with the ODPC and pay fees according to number of employees, turnover/revenue, and whether the firm is a public entity or not.
Legal,Regulation,Tax & Compliance
08/04/2022
3S Money Obtains a Luxembourg Licence as an Electronic Money Institution
3S Money continues to invest in its expansion across its key regions by attracting new talent in the UK, Dubai, Latvia and now Luxembourg
08/04/2022
SmartKYC introduces smartLists
With smartLISTS, firms are able to manage or ingest their own lists of individuals or entities.
08/03/2022
HSBC points to IT risks of proposed break up
In a presentation to analysts on a positive second quarter, HSBC CFO Ewen Stevenson hit back at Ping An's proposals, arguing that the risks of setting up separate IT systems for Asia would far outweigh any material benefits from the move.
08/03/2022
Regulation and how financial services can stay compliant
At the same time, with rapid digitisation over the last three years, and ever-evolving UK legislation accelerated by Brexit
08/03/2022
BDCD in banking tech overhaul with BML Istisharat
The first phase of the replacement project is planned to complete within five months
08/01/2022
Standard Chartered-Backed Zodia Markets Gets FCA Crypto Green Light
At Zodia Markets, our mission is to be the most trusted trading partner for institutional participants as they navigate this rapidly evolving asset class.
07/29/2022
Jack Ma to give up control of fintech giant Ant Group: WSJ
If realized, the move will mark another important turn in Ant’s restructuring and power shuffling since China called off its $35 billion initial public offering nearly two years ago.
07/29/2022
BNPL a “lifeline” for 58% of consumers battling cost of living crisis
Almost two thirds of Brits expect the cost of their bills to rise over the summer.
07/29/2022
Proposed Guernsey rules impact fintech, crowdfunding, peer to peer and virtual asset service providers
Retailers offering credit in their own right will require a licence, but in most circumstances, high street retailers offering credit from a third party lender will not be required to have a licence.
07/27/2022
CFTC creates Office of Technology Innovation
This reorganization and staff additions bolster an already strong team of division directors and office leadership previously announced by Chairman Behnam including the agency’s first Chief Diversity Officer.
07/27/2022
Linklaters advises SIX Swiss Exchange on the amendments to the GDR rules relating to the “China-Swiss Stock Connect” programme
Linklaters provided legal support to the SIX Swiss Exchange AG
07/26/2022
How FNZ is improving the foundations of a three lines of defence model
Not only do firms have the pressure of being slapped with a hefty fine, but there are also the hefty costs they have with internal compliance processes.
07/26/2022
Fonoa raises $60m amid soaring demand for tax automation
Despite a slow down in venture funding to larger scale fintech startups, Dublin based Fonoa has landed its second round of funding in six months.
07/26/2022
Deutsche Bank partners with IIT Bombay to advance digital innovation
Partnership to bring together academia, fintechs and financial experts
07/25/2022
Lloyds, Santander, Barclays, TSB demand Google, Facebook reimburse online fraud victims
With £462 million being returned in 2020 and 2021 to financial crime victims when the funds cannot be recovered, The Telegraph references Barclays data that points out that over 75% of scams take place on social media, auction sites or dating apps,
07/25/2022
Revolut UK regulatory and risk bosses quit as fintech giant awaits UK banking licence decision
Revolut’s UK data protection officer and UK deputy money laundering reporting officer have also resigned.
07/25/2022
GBST extends partnership with Novia
The continued strategic partnership ensures that Novia’s growth ambitions are underpinned by a proven, robust administration platform as it looks to scale assets and client numbers through technology.
07/22/2022
Bloomberg invests in UK regtech firm
The collaboration enables integration between Soteria and Bloomberg Compliance Solutions — which includes leading compliance system Bloomberg Vault among other real-time Bloomberg surveillance systems and preventative controls.
07/22/2022
Cross-border data transfers between Hong Kong and mainland China - what do we need to know?
The law surrounding data protection has continued to evolve globally and cross-border data transfer could happen in any context.