4422 Results from /regulation
Willem Lambrechts Managing Director at Drebbel
A river is a natural flowing watercourse, usually freshwater, flowing towards an ocean, sea, lake or another river. (source Wikipedia) A lake is an area filled with water, localized in a basin, surrounded by land, apart from any river or other outlet that serves to feed or drain the lake. (source Wikipedia) Is river a synonym for lake? I don't thin...
11 October 2019 /regulation Data Management 101
Konstantin Rabin Head of Marketing at Kontomatik
The world has been embroiled in a serious discussion about whether or not digitized fiat currency should exist in various countries. The argument was pushed when China first announced it would be making its own version of digital currency in order to somehow combat Libra, but there may be other implications as well. Things such as easier distribut...
09 October 2019 /regulation Blockchain Observations
Mark Demo
Approximately 250 firms, including many more buy-side firms, could fall into scope for Phase 5 of the Uncleared Margin Rules (UMR), according to AcadiaSoft’s estimates. At the same time, firms will need to be prepared to address variations of the Initial Margin (IM) rules that may play out differently in Europe than in the U.S. AcadiaSoft will tak...
08 October 2019 /regulation Financial Services Regulation
Retired Member
We have been asked to explain the differences between rules-engines and machine learning for anti-money laundering/banking secrecy act applications on numerous occasions. This question typically arises from the compliance team, wanting to better understand the difference between their current process and that used by AI-based, SaaS AML systems. ...
08 October 2019 /ai /regulation Banking Regulations
The Legacy Approach In my prior article, I discussed Rules Engines vs Machine Learning for AML/BSA/CFT compliance. In this article we differentiate legacy AML process from modern a Agile Compliance approach. The legacy AML process consists of on-boarding customers, transaction monitoring and reporting. These processes are hard-wired into the softw...
05 October 2019 /regulation Banking Regulations
This week, three major regulated financial firms (PayPal, MasterCard, Visa) all reportedly are getting cold feet about their participation in the Libra Association project. Can anyone really be suprised after last month's policy moves? Consider: --As noted in this analysis on Medium over the summer, the revenue streams for the Libra Association r...
04 October 2019 /regulation Blockchain Observations
Richard Warren Partner at FirstPartner
The decision by many regulators not to enforce PSD2 Strong Customer Authentication (SCA) on electronic payments on 14th September has given valuable breathing space to e-commerce and payments players. However, the travel and hospitality sector will find compliance extremely challenging even with the benefit of proposed 18 month managed implementat...
04 October 2019 /payments /regulation
At the beginning of the week, a Securities and Exchange Commission (SEC) enforcement action generated attention mostly by levying a large fine ($24 million) in the Initial Coin Offering (ICO) sector. Many shrugged, seeing this as another example of regulatory hostility to cryptocurrency. The reality is more nuanced. The complaint itself is remar...
Rolf Van Der Pol MD at i-KYC
This article (https://www.dawn.com/news/1322817) published in ‘Dawn’ last year not only describes the K&K case clearly but at that highlights some of the underlying issues in Pakistan. A large informal economy, a tradition of sending money abroad and widespread use of hawala networks are the 3 basic factors. Then there’s a widespread use of
01 October 2019 /regulation
Mari-Anne Bayliss Director, Payment and Fraud Solutions, EMEA at CyberSource, a Visa solution
Since the European Banking Authority (EBA) published its Opinion in June on the strong customer authentication (SCA) requirements of the revised Payment Services Directive (PSD2), I've been thinking and talking about it with colleagues, peers and — especially — with merchants. In particular, we've been discussing the opportunity given to nationa...
30 September 2019 /payments /regulation The future of Payments in Europe
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