02/05/2021
FCA report outlines practices firms can consider to reduce failed technology changes
Financial services technology is constantly updated, but when firms implement changes they don’t always go to plan.
Legal,Regulation,Tax & Compliance
02/05/2021
HMRC invests £3m to improve payment processes
HMRC has signed a £3m contract for open banking services, the government’s largest to date, with start-up fintech Ecospend, in a bid to streamline its payment processes and reduce errors
02/05/2021
Global tax enforcement chiefs target cryptocurrency
This year, the designated challenge they focused on involves the role of cryptocurrency and the financial technology industry in tax evasion.
02/04/2021
Social network activities and their legal implications in the EU: Defamation and data protection
Moreover, the court held that this particular communication method has the ability to reach an indefinite number of people and regards subjects present on a specific virtual platform for the purpose of constant socialisation.
02/04/2021
Bitcoin trio charged with $11m digital asset fraud
Enos was the one who drafted promotional material to be distributed to potential investors, the regulator states.
02/04/2021
Singapore's PDPA's Data Portability Obligation: Learning from the GDPR experience
Yet to take effect is the Data Portability Obligation, which was introduced into the PDPA by the 2020 amendments.
02/03/2021
Ecospend secures HMRC’s £3m open banking contract
Winning the government’s largest open banking contract to-date.
02/03/2021
FCA recovers £676,000 in losses for unauthorised crypto and FX trading
Justice Bacon ordered five of the seven defendants to pay back losses to the public.
02/01/2021
Crypto Broker AG granted FINMA securities house licence
Getting the securities house licence for our brokerage is a pivotal moment for us.
02/01/2021
Ripple formally responds to SEC lawsuit
It points to recognition of XRP as a virtual currency by the UK’s FCA, and regulators in Singapore and Japan and argues that the SEC is asking the Court to contradict the findings of the agency’s peers in the US and worldwide.
01/31/2021
Close watch on Indonesia's fintech and illegal investments
Tobing reiterated the public should find out more of fintech lending through proper channels, check the legitimacy of the firm they are interested in and the logical benefits that it offers.
01/29/2021
Regtech Group formed by Steering Committee of Australia’s National Blockchain Roadmap Wants to Know if DLT will Improve Business Processes
The responses to the survey will reportedly be used to “inform the Discovery Report to be presented by the Regtech Working Group to the Steering Committee overseeing the National Blockchain Roadmap in the first half of 2021.”
01/29/2021
New German competition law gives regulator new digital platform investigation powers
The German parliament had adopted the government's draft of the so-called GWB Digitisation Act as amended by the parliament's Economic Committee.
01/28/2021
Philippines Issues Crypto Industry Guidelines to Guard Against Money Laundering
New guidelines bring the nation's digital asset industry in line with Financial Action Task Force standards
01/28/2021
Top banking official praises China’s new fintech regulations
Deputy governor of the People’s Bank of China says tighter regulations for fintech are a necessity
01/28/2021
Levies, Registration and All that Jazz
Failure to pay the annual levy is also an offence under the law and may attract sanctions including a financial penalty.
01/27/2021
PBOC, regulators play active role in restructuring of Ant
Ant Group is seeking to achieve regulatory compliance by drafting a working schedule to group its financial operations into a holding company.
01/27/2021
The Status of EU–UK Data Flows Following Brexit
The transfer of personal data will be subject to a separate adequacy decision from the EU due in early 2021.
01/26/2021
Singapore: Evolving data privacy laws and what it means to privacy professionals
There is a rising trend where you see people suing for damages en masse, via a class action
01/26/2021
Gibraltar Seeks to Expand Digital Asset Regulatory Principles
The working group behind the Gibraltar Market Integrity Study will be primarily responsible for setting appropriate market standards for exchanges operating in the digital asset space.