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.
Legal,Regulation,Tax & Compliance
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.
02/07/2022
Binance restores 79 crypto accounts’ operation after probe
“Binance has resolved 79 cases connected to account restrictions and will work towards speedy resolution of such cases.”
02/07/2022
NatWest Group Extends Relationship with SS&C
SS&C GIDS now provides transfer agency services to more than 800,000 investor portfolios
02/06/2022
UK to make tech firms take faster action against criminal content
Current laws generally only require tech companies such as the owners of Google or Facebook to take down this type of material if they receive a complaint.
02/03/2022
Provision of DPT services to the public
Under the Payment Services Act (“PS Act”), entities which provide services relating to DPTs are regulated primarily for money laundering and terrorism financing risk
02/02/2022
Digital finance: Federal Council sets out areas of action for coming years
The use of new digital technologies is opening the door for new players and leading to new products on financial markets.
02/01/2022
The Fintech Quarterly - Fifth Edition
The fifth edition of The Fintech Quarterly covers Mayer Brown’s Fintech-related videos, webinars, articles, legal updates and podcasts from October 2021 to December 2021.
02/01/2022
EBA launches AML database
EuReCA will contain information on material weaknesses in individual financial institutions in the EU that competent authorities have identified. C
02/01/2022
Eastern Caribbean CBDC platform crashes
The Eastern Caribbean Central Bank has been forced to pull the switch on its digital dollar project DCash to deal with 'technical issues', leaving holders of the CBDC in limbo.
02/01/2022
New standard contracts for transfers of personal data from the UK to be approved
Similarly, the IDTA requires data exporters to undertake a transfer risk assessment to consider the local laws, practices, and risks which might render the protections provided by the IDTA insufficient.