Facebook’s Libra suffers additional regulatory scrutiny
FSB & G7 leaders believe it should halt operations until legal oversight is completed.
Regulation
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.
FCA cryptocurrency investigations rise 74% in 2019
Watchdog having a deeper look at crypto industry.
Facebook’s Libra creating a shadow banking system, say US banks
US banks reckon Libra poses a threat to national monetary policy.
FDIC’s McWilliams: Core banking vendors must evolve
Top regulator says that collaboration is the future for all in the industry
Finra slaps UBS with $2m fine for short position failures
Self-regulatory body calls out the bank’s repeated failures.
NAB’s charge reduces cash earnings by AUD1.12bn
This comes ahead of the January regulatory deadline to reach a core capital ratio of 10.5%.
Banking Technology October 2019 issue out now
Lessons from Africa.
FCA: Libra will lead to financial exploitation
Regulator fears the crypto will bypass payment services.
International regulators investigating tech firms’ cloud dominance
Financial Stability Board casts a wary glance at cloud giants
20th Banking Technology Awards: showcase your brand to decision-makers at banks
Get your brand seen by the brightest and most innovative decision-makers in the industry and network with them at a spectacular gala ceremony!
Banks must improve cyber risk culture, says MAS panel
Singaporean regulator’s experts call out bank culture.
Regulators could delay Facebook’s Libra launch, says executive
Libra’s MD says regulators must be “fully onboard” first.
UK Finance launches cash initiative, calls for bigtech collaboration
It’s “vital” that telecoms, retailors and infrastructure providers take part.
FCA fines Prudential £23.8m for misselling retirement products
Thousands of customers will receive £6,380.51 each
SEC introduces new rule to boost ETF competition
US regulator hopes to break open a market dominated by large players.
German government aims to correct MiFID II “excesses”
Federal Ministry of Finance is keen to kick off revisions before Spring 2020.
ISLA tells lenders how to avoid “unsustainable levels” of cost and risk
By standardising and automating, the industry will become “future-proof”.
LendIt Fintech Europe 2019: digital identity – a nut that remains to be cracked
Over time, like the isolated email systems before them, digital identity solutions will become interoperable.
US regulators targeted with bipartisan Financial Transparency Act
House wants US regulators to improve their data collection and transparency.
Danish fintechs partner to set new standards for accounting industry
Businesses can see transactions in seconds rather than days.
Sibos 2019: Final wrap-up of talks, interviews and daily news
See our final wrap-up of the London-hosted four day event!
ABN Amro under investigation for anti-money laundering failures
European crackdown on money laundering continues.
UK banks halt £820m of fraud in the first half of 2019
Figure means an increase of 14% in blocked criminal transactions.
Sibos 2019: “We don’t get rid of anything in this industry”, says Fiserv director
Fiserv talks on the evolution of payments.
