Managers of Wealth Fintech

UK data adequacy decisions issued by European Commission

The draft decisions show that the Commission intends to designate UK data protection standards as being "essentially equivalent" to those that apply in the EU.

CJEU to rule on data protection breach damages

In addition to injunctive relief and information about his stored data, he also demanded damages under article 82 of the GDPR.

Asia Pacific records USD11.6 billion in fintech investment, with China's fintech sector showing maturity, finds KPMG analysis

Insurtech continues to gain traction among Chinese investors

Draft UK adequacy decision published following Brexit - implications for UK-EU data transfers

If the full decision is granted by the European Commission, this will mean that data flows from the EEA to the UK will be able to continue without any additional protection mechanisms

Wolters Kluwer introduces finsit, its cloud-based financial insights platform to the UK

Finsit enables accountants to leverage technology to give real-time, data-rich advice

National Bank of Bahrain Partners with Backbase to Launch New Digital Banking Platform

Bahrain’s local bank National Bank of Bahrain (NBB) announced the launch of its new digital banking platform, built in partnership with banking technology provider Backbase, to support with their digital transformation journey, empower its staff to

Goodbox raises £9m for digital giving platform

GoodBox has raised £9 million for its digital giving platform that uses contactless technology to help charities raise money in an increasingly cashless society.

Fintech Co-operation between the Hong Kong Monetary Authority and the Central Bank of the United Arab Emirates

The MoU will certainly set the stage for future joint experimentation of digital innovation between CBUAE and the HKMA.”

COVID-19 and regulatory uncertainty spur greater tax risk for organizations in 2021 and beyond, EY survey finds

Survey respondents say they anticipate a far more diverse tax risk environment spanning everything from scrutiny of routine business activity, to major, billion-dollar settlements in court.

Israel Discount Bank selects Wolters Kluwer’s compliant e-forms package

The Wolters Kluwer DEMx offering allows financial organizations to streamline their documentation processes, help ensure compliance with all regulatory requirements, maximize internal resources, and reduce turnaround times.

Saudi Central Bank launches instant payment system Sarie

New IPS allows customers to send and receive low-value local remittances 24 hours a day

EU financial regulators seek greater powers over tech providers

The regulators also said there was a need to ensure that recommendations made to CTTPs under the new regulatory framework could be enforced at EU level

Bearing Point RegTech extends its cooperation with DKB

DKB will use Abacus360 Banking to meet the requirements of German and European regulatory reporting

FundCount named best partnership accounting system at the Private Asset Management 2021 Awards

FundCount is unique in its ability to support all asset classes and private investment structures within one unified accounting, general ledger and reporting system.

Walkers acts on Diamond Standard's DABA Licence

The DABA licence enables Diamond Standard Ltd. to issue, sell or redeem virtual coins, tokens, or any other form of digital asset in or from within Bermuda during the period of the licence and subject to its terms.

FCA grants license to Yolt Technology Services

Regulatory approval also addresses one of the major blockers to widespread adoption of open banking - data security concerns.

Cisco discloses investigation of alleged payments to foreign officials

It said the investigation isn’t expected to have a material adverse effect on its consolidated financial position, results of operations, or cash flows.

Swiss Central Bank Urged to Lift Inflation Goal, Manage Currency

Economists publish paper calling for average 2% inflation aim

Unleashing the potential of digital identity: a sandbox observation

The Regulatory Sandbox at the FCA has been, and continues to be, supportive of genuine innovation to promote competition for the interest of consumers.

English High Court considers limits of the extraterritorial reach of the GDPR in relation to an overseas website

To bring a claim under Article 79 of the GDPR, the claimant had to persuade the court that the defendants' processing of the claimant's personal data fell within the territorial scope of the GDPR in either Article 3.

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