Ingenico announces risk director Panteha Pedram’s appointment to MRC
She will unpick new regulatory changes for the council and its members.
Regulation
US fintech Robinhood pulls OCC banking application
The start-up is calling the withdrawal “voluntary”.
Goldman Sachs fined $1m for not recording traders’ calls in 2014
The bank failed to record calls for three weeks.
DFS 2019: Europe’s financial landscape a long way from united
Yet there’s hope for harmonisation on the horizon, says panel.
DFS 2019: C-level execs with “no idea” holding back innovation
The right structure is needed at banks to enable technological progress, says panel
Customer involvement in fraud mitigation
Pressure for speed has impacted the time available to ensure accuracy.
Citigroup fined record £43.9m for ‘widespread’ regulatory reporting failures
Citigroup fell “fell significantly below the standards expected”.
MLRO’s in the regulatory “cross-hairs”
The role of AML compliance officer/MLRO has never been more challenging.
CMTI 2019: Disruptors demand new approach from regulators
Banque de France deputy governor says the right mindset is key.
CMTI 2019: Regulation and investment needed to support European innovation
French government official says Europe needs to support its start-ups.
Crypto compliance start-up TRM Labs raises $4.2m with help of PayPal
Backers include Reddit’s founder and PayPal Ventures.
China’s Ant Financial is actively looking for Singapore banking licence
The Monetary Authority of Singapore (MAS) has five licences on offer.
US government plans strict enforcement of AML ‘travel rule’ for crypto firms
The rule requires crypto firms to share information about their customers.
Canada’s online brokerage Questrade plans banking licence
A trademark application was also filed back in October for Quest Bank.
BRICS nations aiming for common payment system
Russian official says the association is looking to reduce reliance on USD.
Ex-Virgin Money execs’ venture Snoop gets FCA approval
It can now receive financial data from banks as a registered third party.
English law makes crypto assets property and smart contracts binding
Barristers from Twenty Essex, 3 Verulam Buildings and 4 Pump Court signed.
Fraud reimbursement plan stalls with lack of industry consensus
Pay.UK calls on banks to come together and back creation of central fund.
Asian massage chair tycoon targets Singapore banking licence
Ron Sim is said to be in talks with Singapore-based investment company Temasek.
Explained: The ECB’s role in the banking licence process & UK’s licensing procedures
Cécile Sourbes unpacks the process of licensing in the UK.
Why has Lithuania become a key destination for licensing in Europe?
As part of its newly devised strategy, Lithuania put several tools in place.
FTC puts Visa and Mastercard under debit routing microscope
Major card schemes under investigation for blocking other network payments.
CSConnect UK 2019: Round-up of key cybersecurity trends
The conference brought together chief information security officers (CISOs).
Regional KYC utilities: Genesis of global collaboration on shared compliance platforms
Several countries are now adopting this model of a unified platform.
Libor’s demise set to rock the foundations of finance?
With greater protection comes considerable challenges and risks, none more so than with Libor.
CSConnect 2019: Lloyds head says tech firms don’t get enough heat for banking app glitches
Lloyds head: “We’re either in this together or we’re not”.
How is AI augmenting compliance practices?
SAS are seeing early AI entries in the Regtech space.
Standard Chartered taps Quantexa to boost AML controls
Dynamic entity resolution and network analytics to be implemented at the bank.
FCA exposed for ‘shameful’ behaviour at its London HQ
Behaviors include defecating on the toilet floors and verbally abusing outsourced staff.
AFME calls for supervisory convergence on the regulation of crypto-assets
Europe’s AFME lists five recommendations.
Open Banking Expo 2019: Vested interests preventing international adoption
Industry panel discusses the reaction other markets have had to the UK’s Open Banking initiative.
Investment firm Castle Trust to become UK challenger bank
The firm calls it the “natural next step”.
Hungary’s National Bank fintech strategy combats digitisation lag
The national bank has drawn up its own fintech guidelines “to speed things up”.
Tencent plans blockchain-based virtual bank on back of new Hong Kong licence
Chinese conglomerate nabs its second licence from regulators.
ING invests in regtech Ascent
The Dutch bank backs AI-driven regulatory compliance solutions.
Fintech Talents 2019: Bank leaders still struggling with digital transformation
Responsibility is on both sides to ensure bank execs understand the benefits, argues Locsin.
Immersive Labs lands $40m investment round, opens Boston office
The start-up sees clear demand for cybersecurity support in North America.
Bitcoin ATMs in Nevada now need a money transmitter licence and bond
Find out the basics about virtual currencies regulation in Nevada.
Digital banking 2019: top opportunities and cornerstones in IT product development
People want nothing but financial flexibility and convenience when it comes to money management.
Swift and EBA Clearing kick off ISO 20022 migration for EURO1
Swift has provided the messaging layer for EURO1 since 1999.
