Managers of Wealth Fintech

EBA launches AML database

EuReCA will contain information on material weaknesses in individual financial institutions in the EU that competent authorities have identified. C

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.

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.

Zurich digital asset manager secures Finma licence

It advises a Liechtenstein AIF fund and two Luxembourg venture capital funds.

Much-Anticipated Federal Reserve Report Signals That a CBDC Is a Long Way Off

The Report requests comments on a series of questions to help the Federal Reserve improve its understanding of the potential benefits and risks of a CBDC.

Cayman reports of data protection breaches up by 50% in 2021

Deputy Ombudsman (Information Rights) Jan Liebaers, in response to Cayman Compass queries Friday

MAS To Introduce Stringent New Measures to Curb the Rise of Internet Banking Fraud

The growing threat of online phishing scams calls for immediate steps to strengthen controls

Getting your IP in order: protecting confidential information

A business must ensure that both trade secrets and confidential information are properly protected from loss and misuse.

Russian Central Bank proposes a ban on cryptocurrencies

Following the ban on crypto mining in China, Russia has become one of the global leaders by mining capacity so the proposal has serious implications for the fintech sector.

Dechert Advises Hong Kong Fund Manager

With the regulatory approval, the fund manager is set to launch a crypto fund that invests 100% in crypto assets, and Dechert has been retained to advise them on matters relating to the formation and management of this fund.

Clifford Chance advises Qingdao AInnovation Technology

The deal was co-led by partners Tianning Xiang, Jean Thio, and China co-managing partner Tim Wang

Asia’s Virtual Banks Need Regulator Oversight to Guard Data, BIS Says

Technology brings down transaction costs for serving higher risk customers

What’s in an IP Address? A Key Compliance Risk Indicator You Should Get to Know Better

IP addresses are critical digital breadcrumbs that have the potential to link anything connected through the internet to their geographic location.

Incident reporting changes planned in UK cyber law reform

Plans to expand the type of cybersecurity incidents that must be reported to UK authorities under the Network and Information Security Regulations have been outlined by the UK government.

Thailand to set out rules to limit the use of cryptocurrencies as a means for payment

Digital asset business operators have expanded their business to cover services related to the use of digital assets as a means of payment for goods and services.

US Tax Issues For Non-US Crypto Investors

This is because, for US tax purposes, gain on the sale of property is generally treated as tax-free foreign source gain in the hands of a foreign seller.

Central Bank of the Philippines Finds Digitalisation Will Ease Inflation in the Long Run

The wider adoption of digital payments in the Philippines is expected to have a positive impact on inflationary trends moving forward, according to the Bangko Sentral ng Pilipinas.

Restrictions on cryptoasset promotions tightened in Singapore, Spain and UK

The regulator plans a clampdown on inducements to high-risk investments, such as payments to new customers or ‘refer a friend’ bonuses.

Kneip and Fondsdepot Bank partner to improve data quality in German fund market

Kneip’s Data Collection Service simplifies the collection of fund data and documents right from the source.

Strip clubs and fraud: the trial of an unconventional Swiss banker

While Raiffeisen is not on trial, the bank’s reputation has been dragged through the mud for authorising lavish foreign trips and strip club outings on company expenses and for failing to spot a series of suspect deals.

Legal,Regulation,Tax & Compliance