4419 Results from /regulation
Retired Member
“Data is King” has become an idiomatic phrase. Banks have an abundance of data, but the recent fines levied by the FCA against prominent UK banks for their failure to accurately report transactions under MIFID indicate that volume of data does not guarantee the fitness to deploy it. These MIFID reporting failures were centered on simple cash instr...
26 September 2019 /regulation Banking Regulations
Eli Taranto Head of Global Business Development at EQIBank
Offshore banking has always carried an air of subversion about it, but following the release of the Panama Papers in 2016 the industry was catapulted into an entirely new and highly critical light. Since that stark revelation of hidden earnings and tax evasion, a shocking $1.2 billion in back taxes and penalties have been collected by governments ...
25 September 2019 /regulation /wholesale Banking Regulations
Mike Kiser Senior Identity Strategist at SailPoint
As I strode quickly off the plane I had taken back to the US and towards customs recently after an international trip, I reached into my satchel. Like the rest of humanity, I did not want to spend any more time in the airport than necessary, so I extracted my passport and scanned for an open machine to start the scanning process. Instead of prompt...
25 September 2019 /security /regulation Banking Regulations
Konstantin Rabin Head of Marketing at Kontomatik
Predicting what the future of financial companies will look like in the short term is not an easy task, but it is one that should be undertaken, if we are to make sense of the 21st century. The problem with making any predictions is that the stability of the world, in terms of providing a good place for a Fintech company to work in, has been shake...
25 September 2019 /regulation /startups Fintech
The third iteration of the Open Banking specifications, released earlier this year, are now being adopted by the major UK banks. The Regulatory Technical Standards on Strong Customer Authentication and common and secure communication under PSD2 (commonly abbreviated to “the RTS”) came into effect on 14th September 2019, and many of the major banks...
24 September 2019 /regulation Open Banking
The REGTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries in Regulation, Wiley August 2019. Authors: Janos Barberis, Douglas W. Arner, Ross P. Buckley. Amazon link My print copy of the long awaited RegTech book ships from Amazon next week and promises to be a comprehensive resource, crowdsourced from more th...
20 September 2019 /ai /regulation Banking Regulations
Heather Lee Sanctions Strategy at SWIFT
As the demands of international businesses for speedier cross-border payments continue to grow, banks are under increased pressure to keep these payments compliant and secure. At the same time, regulators are focusing on international payments, which are subject to complex and expanding anti-money laundering (AML) and sanctions regulations. This m...
19 September 2019 /payments /regulation
Barley Laing UK Managing Director at Melissa
The financial services industry must ensure compliance with a plethora of national and international regulations, particularly those related to KYC and AML, which can be very costly in terms of both time and money. Existing regulations and the pipeline of new directives pose a potential issue for start-ups and SMEs because they often don’t have th...
17 September 2019 /regulation Banking Strategy, Digital and Transformation
The global payments industry is changing rapidly as technology and innovation reduce friction and increase the speed at which value moves across borders. In order to keep pace and prepare for the future, the financial community must adopt a common language across the board. The good news is that this is already happening, as many payment market in...
16 September 2019 /payments /regulation
The advantages that fintech brings to the industry cannot be taken lightly, especially after we’ve seen so many traditional companies switch to this new understanding. In the past, there was absolutely nothing that could challenge traditional finances. The bank was the only place where you could possibly store your cash, and hope for some kind of r...
16 September 2019 /regulation /inclusion Fintech
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