Managers of Wealth Fintech

FPC: Cloud Adoption

The regulators have now taken an action to review the need for additional policy measures

CNPD publishes new guidelines on cookies

Cookies can be used for different purposes, i.e. to recognize a user's language choice or the products that the user had placed in his/her basket during a previous shopping session.

Security intervened in the field of financial technology after the acquisition of part of the British company Monumentally Bank

“At the same time, it represents an opportunity to access the latest technologies and high standards in digital financial services,” the executive added.

FCA selects Aiimi’s Insight Engine for three year contract

Artificial intelligence and machine learning capabilities offered by the Engine, will identify and alert the FCA to risks before recording and learning from the findings via data training models.

UK: Lloyd v Google – Game over for privacy class actions?

Together with the decisions in Rolfe and Warren (discussed below), it is likely significantly to curb some of the momentum that had been building around potential scope for opt-out claims in data breach cases.

Asia Data Protection Update

Proposed security assessment mechanism for transferring data outside of China

MAS Enhances FinTech Regulatory Sandbox with Sandbox Plus

The Regulatory Sandbox, which is fully bespoke, was enhanced with Sandbox Express in 2019 to provide firms with a faster option for market testing in pre-defined environments.

The use of data to improve buying decisions from a net zero carbon perspective

The ultimate aim should be a state where suppliers are willing and able to commit to contractual terms under which they are obliged to meet robust carbon reduction targets, and suffer financial or other sanctions if they fail to do so.

OFAC Reaffirms Focus on Virtual Currency With Updated Sanctions Law Guidance

This update highlights the government’s continued movement toward subjecting the virtual currency industry to the same requirements, scrutiny and consequences in cases of noncompliance as applicable to traditional financial institutions.

Weaponised Chinese 'GDPR' now launched

Our China team looks at the third and final draft of the PRC Personal Information Protection Law.

Middle East data protection update

Vin Bange and Adnan Chida look at recent developments in data protection and cybersecurity in Qatar, Saudi Arabia and UAE.

DeFi — the ‘Wild West’ of crypto — is next on regulators’ hit list

After a crackdown on Binance and other cryptocurrency firms, regulators are now turning attention to the world of decentralized finance.

EU regulators ease reporting demands in MiFID 2 "Quick Fix" Directive

From a high-level perspective, the changes are focused on reducing the administrative burden on affected firms with operations in the EU, including exemptions from ex ante cost and charges reporting plus some product governance requirements.

Open Banking: levelling the playing field?

Open Banking is premised on data access and leveraging of customer data to enable innovation and competition in banking

Wolters Kluwer acquires LicenseLogix

LicenseLogix is a premier provider of comprehensive business license services, including research, filing and ongoing compliance management.

The ICO issues its response to the UK Government's proposals to reform the UK GDPR

While the ICO maintains that it supports the UK Government's review of the country’s data protection rules and the purpose behind that review, it raises many concerns about the proposals put forward by the Government.

UK Cryptocurrency Tax Is Still Murky Territory — Here’s How to Navigate It

The only things certain in life are death and taxes — and that applies to cryptocurrency tax in the UK, which is still being defined by the HMRC.

Art collector's court case signals potential legal and contractual issues with NFTs

According to the NFT Report 2020, published by L’Atelier BNP Paribas and Nonfungible.com, the value of the NFT market grew by 299% in 2020.

MAS Announces 60 Finalists for the 2021 Global FinTech Hackcelerator and FinTech Awards

Ten finalists each were shortlisted through the Local Programme and the International Partner Programme.

Clear Rules on Crypto Assets Imminent, says FDIC’s McWilliams

Chair outlines various risks and opportunities for stable coins and other digital assets

Legal,Regulation,Tax & Compliance