Regulation and competition driving lending transformation
The key to success is a solution that provides effective data management.
Regulation
UK Treasury Committee: Regulators must punish banks for IT failures
UK regulators “must have teeth and be seen to have teeth”.
Payment fraud in sights of UK cybersecurity force
The NCSC claims Operation Haulster is helping banks proactively prevent fraud.
OneSpan director: Banks need to implement AI’s full potential
Banks still have siloed data pools which can’t quite be pulled.
US regulators sign up to Global Financial Innovation Network
The CFTC, FDIC, OCC and SEC are all on board.
European Commission urged to clamp down on money laundering
A new document is ready to put new AML controls in place.
Temenos picked by Danish challenger Lunar to fight financial crime
Temenos says it was chosen to “address stringent regulatory demands”.
P2P lender Funding Score sinks into administration
Investors nervous as recovery firm takes control.
EBA’s migration deadline for SCA must be seen as a warning
Regulator has given plenty of time for merchants to whip themselves into shape.
US fintech community dealt blow by federal court as charter is denied
The OCC will be appealing the decision by the US courts.
Uncovering the hidden costs of liquidity
Liquidity is paramount and real time liquidity is now a must-have.
Investor rights lawyers investigate Wirecard securities fraud
Earlier this year, white-collar crime investigators raided Wirecard’s offices in Singapore.
FCA should overhaul EMIR supervision, says ESMA review
FCA ranks bottom among six major EU competent authorities for EMIR data supervision.
RegTech startup Apiax raises $6.6m in Series A round
Firm aims to digitise regulatory compliance into binary code.
Can compliance directors successfully reposition themselves as business leaders?
The role of banking compliance is in mid-evolution.
Bank of England finds two-thirds of industry using machine learning
Firms would like to see more guidance around ML regulations.
FCA will ‘take appropriate action’ against product greenwashing which misleads customers
The regulator will work on “common standards and product disclosures”.
EBA sets December 2020 migration deadline for SCA compliance
European watchdog gives payments industry just over a year to comply.
Industry apathy remains as SFTR deadline looms
Market participants suggest there is a worrying lack of preparedness for SFTR.
Libra’s woes continue as Booking Holdings departs
The association has now lost 25% of its membership.
Queen’s Speech reinforces UK’s aim to be world-leading regulator
The report found London has the world’s highest concentration of finserv firms.
US regulators remind FIs of AML obligations for digital assets
The CFTC, SEC and FinCEN point to AML/CFT requirements for digital assets.
China to ditch some foreign ownership limits next year as trade-war concession
Limits to be scrapped for securities, futures and fund management firms next year.
Facebook’s Libra suffers additional regulatory scrutiny
FSB & G7 leaders believe it should halt operations until legal oversight is completed.
Mastercard, Visa, eBay and Stripe follow PayPal’s suit and leave Facebook’s Libra
Facebook’s hopes of a global cryptocurrency are hanging in the balance.
EBA publishes work programme for 2020
The EBA will focus on six strategic areas in 2020.
Federal Reserve shelves tougher liquidity rules for foreign banks
Minimum level of liquid assets not required by US branches.
Bank of England reveals new £20 note featuring artist Turner
The new polymer note will be the first to utilise two transparent windows.
Federal Reserve signs off on Volcker Rule simplification
“Volcker 2.0” to go live in January 2020.
Banks’ culture and governance next target for Australian regulators
There will be “deep dive” reviews if firms don’t deliver.
World Federation of Exchanges outlines opposition to FCA crypto-derivative ban
UK watchdog wants to protect retail customers from scams
Standard Chartered Bank tackles reporting restrictions with BearingPoint
The new solution covers more than 130 jurisdictions.
Russia’s Sberbank catches internal culprit of data leak
The leak could have affected at least 200 of its customers.
PayExpo 2019: We will be taking action, says FCA on insufficient safeguarding
The regulators found banks are delaying safeguarding precautions.
FSB investigating the regulatory potential of stablecoins
Emerging scale could pose challenges, says FSB chair
Mandates and machines: The power of technology to bridge regulatory gaps
The SFTR challenge is complex, but technology can bridge these gaps.
UK government appoints fintech envoy for Northern Ireland
Andrew Jenkins to become lead ambassador for fintech in the country
CoinCorner CEO: Mark Cuban “naÏve and short sighted” about bitcoin
Cuban says he prefers bananas to Bitcoin.
National Bank of Canada goes live with Murex’s MX.3 Risk and Regulatory Suite
Bank aims to meet future FRTB obligations.
ESAs identify weaknesses leaving high-volume transaction firms open to money laundering risks
The three European Supervisory Authorities (ESAs) publish their second joint opinion.
