4459 Results from /regulation
Retired Member
The regulatory perimeter regarding crypto-assets continues to expand. The latest move comes from the International Organization of Securities Commissions (IOSCO) which released for comment on 28 May 2019 suggested regulatory oversight standards to govern crypto-asset trading platforms (the “IOSCO CTP Proposals”). Many in the cryptocurrency secto...
30 May 2019 /payments /regulation Digital Asset Class (DAC)
Shiran Weitzman Co-Founder and CEO at Shield Financial Compliance
Market Abuse is nothing new, but the updated Market Abuse Regulations (MAR) in 2016 significantly raised the bar in terms of the requirements needed to address it and the punishments for compliance failure. Having conducted a survey on MAR in 2016, PwC UK has recently released its new Market Abuse Surveillance Survey for 2019 and it makes for fasc...
30 May 2019 /regulation
Chris Holmes Senior Vice President at KAE Consulting
During the past months, the Federal Reserve’s Faster Payments Task Force has made huge steps towards the implementation of a faster payments / real-time payments system in the US. As a result, the Fed’s RTGS (Real Time Gross Settlement) system is said to be ready to launch in 2020. Immediate loan availability, mobile payments, real-time invoicing ...
30 May 2019 /payments /regulation Financial Services Regulation
Dmitrii Barbasura Chief Operating Officer at Fintech Galaxy
According to PSD2, the financial institutions that act as ASPSPs should have in place at least one interface for regulated TPPs (including other ASPSPs that act as TPPs) for identification and secure communication. Identifying themselves is mandatory for all TPPs that wish to get access to ASPSP’s sandbox, live API, and/or non-dedicated interface ...
30 May 2019 /regulation Banking Regulations
Today ESMA changed their mind on the share trading obligation (STO) in the event of a No-Deal Brexit. Under their new approach, any ISIN with the GB country code is now out of scope. Obviously, this change reduces the number of ISINs where EU buy-sides are forced to trade at home. Most importantly, among those instruments no longer subject to the ...
29 May 2019 /regulation MiFID
Anjani Kumar Principal Consultant - FS Risk & Compliance at Infosys Limited
If we think trade abuse and market manipulation is generally passé and that financial institutions (FIs) should no longer worry about rogue trading activities such as those perpetrated in the past by the likes of Nick Leeson, Jérôme Kerviel, Toshihide Iguchi, John Rusnak and Yasuo Hamanaka, we need to think again! The reality is that still today r...
27 May 2019 /regulation
Artificial intelligence (AI) is being used throughout digital transformation initiatives and is changing how banks perform client on-boarding, anti-money laundering (AML) and know-your-customer (KYC) compliance. Additionally, for the purposes of anti-money laundering, artificial intelligence systems can mine large amounts of transaction data and i...
24 May 2019 /ai /regulation Banking Strategy, Digital and Transformation
The arrival of e-commerce and digital banking has been revolutionary for both financial services firms and customers alike. We have saved not only time, but also money as new marketplaces and low-asset business models have thrived on the flexibility afforded by open banking. Never before have we had better control over our money and financial serv...
24 May 2019 /regulation Fintech
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
Since I wrote Flight Delay Insurance – Why Blockchain?, I've come across several updates that have reinforced my skeptical views around the claim of decentralization and raised new doubts about the touted advantage of resilience. UPDATE #1: Let me take the following observation in my original post: Data is distributed across multiple nodes, so the...
23 May 2019 /regulation
Financial institutions, which are preparing to meet Regulatory Technical Standards (RTS) of Open Banking, are currently facing a shortage of live Open APIs. For any bank that wishes to get ready for the Open Banking era, the only viable choice is using account aggregators, many of whom provide solutions based on “screen scraping”. What is screen s...
22 May 2019 /regulation
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