02/18/2022
UK regulators publish AI report
Regulators should provide greater clarity on existing regulation and policy but such clarification and any new guidance should not be overly prescriptive and should provide illustrative case studies.
Legal,Regulation,Tax & Compliance
02/18/2022
Crypto giants form travel rule compliance platform
In addition, all Trust member must meet core anti-money laundering, security, and privacy requirements.
02/18/2022
Veriti Management unveils new user interface
The direct indexer redefines the user experience and the delivery of customization at scale
02/18/2022
FBI to form digital currency unit, Justice Dept taps new crypto czar
Ransomware groups often demand their fees in bitcoin.
02/17/2022
FCA concerned about Binance getting access to Faster Payments
Firms based outside the UK can generally serve Brits without FCA oversight, says the FT.
02/17/2022
Financial institutions most concerned about beneficial ownership rules & cryptocurrencies, new report shows
The results were clear: keeping up with a rapidly changing regulatory and threat landscape continues to be challenging for many financial service firms.
02/17/2022
Rights and principles proposed to guide digital transformation
The Commission is hoping to have the draft declaration signed by summer 2022.
02/16/2022
New requirements in force for cross-border data transfers from China
Personal data processors whether in mainland China or abroad wishing to transfer personal data outside of mainland China must obtain a separate consent from the relevant individual.
02/16/2022
UK Digital Right to Work Checks
The UK Home Office categorises employees into ‘Settled’ and ‘Pre-Settled’ status.
02/15/2022
Data Protection Law issued in Oman
All businesses operating in Oman should immediately begin assessing their activities and making changes to corporate policies and procedures to align with the PDPL.
02/14/2022
UK Regulators Warn Banks to Safeguard Again Lending Discrimination if Using AI, ML
AI, in their opinions, wouldn’t make “subjective and unfair” judgments, per the report.
02/14/2022
Former Redcentric directors convicted for misleading investors
Estelle Croft, the firm’s former finance director, had already been sentenced to three years’ imprisonment, having pleaded guilty to charges of making false statements and false accounting, including to Redcentric’s auditors, PwC.
02/14/2022
Wealth management platform advised by A&O
The A&O team is led by private equity partner Karan Dinamani
02/14/2022
Transforming data collection communication to firms – 10 February 2022
Communication to firms to provide an update on the progress of the joint transformation programme, which is being led by the Bank of England, FCA and industry to transformation data collection from the UK financial sector.
02/11/2022
Kenya’s central bank seeks public input on potential CBDC
The watchdog has given Kenyans until May 20 to submit their comments on the paper that examines the dangers and possibilities of CBDC
02/11/2022
Morocco’s Central Bank gearing up digital currency
The signatories also agreed to cooperate in digital banking services and innovative payment solutions.
02/11/2022
Treasury and FCA move to regulate the marketing of cryptoassets in a similar way to high risk investments.
The result is that previously unregulated cryptocurrencies and cryptoassets will be brought into the financial promotion regime for the first time.
02/09/2022
Australian judges could shape law on AI inventorship globally
In his patent applications, Thaler has named his ‘DABUS’ system as inventor, arguing that patent law supports the concept of AI inventorship.
02/08/2022
SurePoint launches Legal Management System
The new, intuitive application provides automatic time management capabilities and ease-of-use for all law firm employees
02/07/2022
The impact of the SFC’s and HKMA’s joint circular on intermediaries’ virtual asset-related activities
The additional investor protection measures for virtual asset-related products are not surprising.