12/02/2021
Cryptocurrency executives to be questioned in Congress
Crypto-currencies are not currencies in the traditional sense, although they can sometimes be used to make payments.
Legal,Regulation,Tax & Compliance
12/02/2021
How to handle crypto on your UK tax bill
These are the pitfalls crypto investors are facing in how bitcoin and NFTs are taxed in the UK
12/02/2021
AML Study Reveals Manual Processes Are Slowing Down Banking Compliance
AML Banking Survey By RiskScreen Finds 8 in 10 Complain Their Compliance Processes Are Too Labour Intesive, Slowing Down Onboarding And Screening
12/02/2021
BoI fined €24.5m for serious IT failures that could have affected millions of customers
The fine is designed to reflect the seriousness of the disruption Bank of Ireland customers would have faced and the knock-on effect to Ireland’s entire banking system if the lender’s IT systems had failed
12/01/2021
FCA boosts Open Banking by removing 3-month re-authentication requirement
The FCA says that one trade association reported that TPPs are experiencing customer attrition rates of around 20-40% at the 90-day mark when SCA is required.
12/01/2021
FCA Targets ESG Data Providers
The business plans also announced that the FCA would focus on addressing greenwashing concerns as a priority.
11/30/2021
Today's Corporate Investigators Exchange Dumpster Diving for High-Tech Services
Today’s corporate investigators are armed with modern alternatives to dumpster diving: high-tech services to uncover hidden information in transactions feed game-changing intelligence into litigation and uncover hidden assets.
11/29/2021
HKEx Announces Rule Changes To Attract Overseas Issuers - Especially Greater China Issuers
These amendments are detailed in the 'Consultation Conclusions on Listing Regime for Overseas Issuers' (Conclusions) – and this Update explains some of the key changes.
11/29/2021
US banking regulators are looking to clarify crypto rules in 2022
The regulators also say it’s an attempt to make sure the financial industry isn’t used to launder ill-gotten currency, something the Treasury Department has been focusing on recently.
11/26/2021
U.S. Federal Bank Regulators Require Notifications For Material Cybersecurity Incidents
Unlike some of those regulations, this rule is not linked to compromised consumer data.
11/26/2021
Leaked emails reveal how Macquarie Bank became entangled in an $80 billion scandal
A memo submitted ahead of the board meeting noted: "The risk of reputational damage remains should the German authorities take action against the funds."
11/26/2021
Landsbankinn selects Salt Edge to reach PSD2 compliance
The new Act on Payment Services, which transposes the European PSD2 into Icelandic law, entered into force on November 1, 2021
11/25/2021
Islamic bank selects CapitalCompliance
Capital Banking Solutions has been awarded the contract for the deployment of its integrated Anti-money laundering and tax evasion solution named CapitalCompliance
11/24/2021
Basel Committee publishes more details on global systemically important banks
The final scores are mapped to corresponding buckets that determine the higher loss absorbency requirement for each G-SIB.
11/24/2021
Russian cybersecurity executive appeals to Putin as detention for treason extended
Sachkov, 35, who founded Group-IB, one of Russia's most prominent cybersecurity firms, was arrested in September and charged with divulging state secrets, allegations he denies.
11/24/2021
Infrastructure Legislation Expands US Tax Information Reporting to Cryptocurrency and Other Digital Assets
Congress sought to address this issue in the Infrastructure Investment and Jobs Act (the “Act”), which was signed into law by President Biden on November 15, 2021.
11/24/2021
US banking regulators plan to publish crypto guidance throug
The agency's work focused on bolstering internal understanding and defining the regulatory parameters for each agency in the context of crypto activities.
11/23/2021
FSB Statement to Support Preparations for LIBOR Cessation
Active transition of legacy contracts remains the best way for market participants to have control and certainty over their existing arrangements.
11/22/2021
Revolut taps regtech Cube for global regulatory intelligence support
It’s not easy keeping compliant when you’re a global super app.
11/21/2021
FCA confirms recognition of the revised FX Global Code and the Global Precious Metals Code
The FCA expects firms and individuals to consider both the spirit and letter of code provisions to make sure they fully meet ‘proper standards of market conduct’.