Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Company update/Legal

CBA fights back against fresh Austrac allegations

Commonwealth Bank of Australia (ASX: CBA) today lodged with the Federal Court of Australia its response to the amended statement of claim filed by AUSTRAC on 14 December 2017 and its defence to the shareholder class action commenced by Zonia Holdings Pty Ltd on 9 October 2017.

23 February 2018

News/Legal

R3 creates Legal Centre of Excellence for blockchain technolgy

Financial blockchain coalition R3 has assembled a group of ten legal firms in an effort to educate lawyers on the contractual intricacies surrounding the live deployment of distributed ledger technologies.

20 February 2018

News/Legal

'In fraud we trust': US indicts 36 over $530m cybercrime operation

The US Department of Justice has indicted 36 alleged members of a cybergang accused of causing more than $530 million in losses through the acquisition and sale of, among other things, compromised debit and credit cards and banking information.

08 February 2018

News/Legal

US charges two over ATM jackpotting scheme

US authorities have charged two men with bank fraud after they allegedly used malware to jackpot ATMs and empty the machines of cash.

06 February 2018

News/Legal

Swedish court backs Nasdaq in data centre wrangle

A Swedish court has dismissed years-old allegations that Nasdaq abused a dominant market position to prevent rival exchange operator Burgundy from renting space in a data centre.

19 January 2018

News/Legal

BofA leads on blockchain patents

Bank of America has filed for or received more blockchain-related patents in the US than any other firm, beating out Mastercard and IBM for the top spot, according to research from law firm EnvisionIP.

17 January 2018

News/Legal

Fired Barclays trader testifies about use of FX algos

A London court has heard testimony from a fired Barclays FX trader about his use of the bank's FX algorithmic trading system in his bid to win his job back, reports Bloomberg.

15 January 2018

News/Legal

Europe begins Open Banking era in subdued style

The EU's second Payment Services Directive (PSD2) took effect on Saturday 13 January, bringing with it the start of Open Banking, however the prospect of a sudden revolution is likely to be thwarted by unresolved technical and regulatory issues and a lukewarm reception from consumers.

15 January 2018

News/Legal

Crypto mining threatened by power capacity concerns

The craze for cryptocurrency mining is putting increasing strain on electrical grids, raising concerns about capacity around the world and the prospect of a migration of coin mining operators to new jurisdictions.

12 January 2018

News/Legal

Buffett rubbishes cryptocurrencies; South Korea preps exchange crackdown

Warren Buffett, arguably the world's most successful and respected investor, has issued a scathing assessment of cryptocurrencies and predicted a "bad ending" for the current bitcoin boom.

11 January 2018

News/Legal

Judge dismisses New York regulator's fintech charter lawsuit

A US judge has dismissed a lawsuit brought by the New York Department of Financial Services (NYDFS) seeking to block plans by the Office of the Comptroller of the Currency (OCC) to grant fintech charters.

15 December 2017

Company update/Legal

Waves sets up self-regulatory body to set ICO standards

Waves Platform is creating a self-regulatory body that will provide reporting, legal, tax & accounting, KYC and business due diligence standards for ICOs and blockchain industry.

11 December 2017

News/Legal

Visa claims UK interchange victory

Visa is looking to play nice with UK retailers after scoring a High Court victory in a long-running battle over interchange fees.

30 November 2017

News/Legal

Community bankers sue Equifax over massive data breach

The Independent Community Bankers of America (ICBA), which represents 5700 institutions, has filed a lawsuit against Equifax for its recent breach of 145.5 million consumer records and 209,000 payment cards.

29 November 2017

News/Legal

Brexit uncertainty causing skills gap say UK tech leaders

The ongoing uncertainty around freedom of movement post-Brexit is affecting the recruitment of technology talent and causing concern among UK tech entrepreneurs about a possible skills shortage.

16 November 2017

Company update/Legal

Slaughter and May adds startups to Fintech Fast Forward programme

Slaughter and May, the leading international law firm, today announces that 11 tech businesses in total have now joined its Fintech Fast Forward programme.

31 October 2017

Company update/Legal

Appeal and judicial review applications filed in £14bn Mastercard consumer claim

Lawyers for Walter Merricks CBE have filed applications with both the Court of Appeal and the Administrative Court of the High Court, the latter by way of judicial review, for permission to appeal the Competition Appeal Tribunal’s (CAT) decision to refuse to allow the proposed £14bn collective action on behalf of 46 million consumers seeking damages from Mastercard due its illegal card fees to proceed.

27 October 2017

Company update/Legal

Law firm Addleshaw Goddard opens applications for second fintech programme

Following the resounding success of 'AG Elevate', originally launched in November 2016, Addleshaw Goddard has today announced its 2018 programme to support FinTech growth with an expanded program for participants.

04 October 2017

Company update/Legal

RegTech startup Apiax secures $1.5 million in seed funding

Apiax, a RegTech startup transforming complex regulations into easy-to-use digital compliance rules, today announced its Seed Round raise of more than $1.5 Million.

28 September 2017

News/Legal

Ripple and R3 trade blows in legal dispute

Blockchain startups Ripple and R3 are going to court to resolve a dispute over the unilateral termination by Ripple of an options contract on its XRP digital currency unit held by R3.

11 September 2017