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The UK’s legislative approach: Substance over style
Chris Holmes

Chris Holmes Peer at House of Lords

The UK’s legislative approach: Substance over style

The UK’s recent regulatory moves on digital assets and stablecoins have been fairly solid on substance but could benefit from a bit more style. By substance I’m thinking of the Electronic Trade Documents Act, the recently introduced Property (Digital Assets etc) Bill and just launched Digital Securities Sandbox (DSS). This ‘substance over style’...

/regulation

DORA takes effect: Digital resilience and cybersecurity in the EU
Renate Prinz

Renate Prinz Partner at McDermott Will & Emery LLP

DORA takes effect: Digital resilience and cybersecurity in the EU

European financial supervision has a clear enemy that needs to be mitigated: cyber risks. The idea that a major banking or payment system could be hacked triggers fear of major economic crises, depending on the scale of such a hack. Thus, there is a clear focus on IT security in the banking system to ensure the stability of the financial market, e...

/regulation

Do fintechs need to be FCA-authorised?
Richard Ellis

Richard Ellis Partner at Charles Russell Speechlys LLP

Do fintechs need to be FCA-authorised?

When asked why they founded their fintech business, few entrepreneurs would reply “Because I really wanted to engage with the intricacies of financial services regulation”. At first glance, fintech and financial regulation may not appear to be a match made in heaven. The former often moves more quickly than the latter. Given this, regulation can s...

/regulation

What does the UK’s proposed Digital Assets Bill mean for the future of crypto?
Chris Holmes

Chris Holmes Peer at House of Lords

What does the UK’s proposed Digital Assets Bill mean for the future of crypto?

On September 11 a new bill to clarify the legal status of digital assets, including crypto-tokens, was introduced to the House of Lords. Based on extensive work published by the Law Commission of England and Wales earlier this year the bill proposes a “third category” of personal property rights. Currently under UK law there are two traditional ...

/regulation

Wind of change: VAT and e-invoicing in the digital age
Jurgen Soetaert

Jurgen Soetaert Founder of Digicrowd, e-Invoicing expert at Flowin

Wind of change: VAT and e-invoicing in the digital age

Anyone in Europe that’s involved in invoicing and VAT will have heard of the EU’s VAT in the Digital Age (ViDA) proposal that’s been eluding agreement among member states for two years. Designed to streamline VAT across the European Union, member states have once again failed to reach agreement on ViDA during the latest vote in June 2024. A lot of...

/regulation

How can the UK become a world leader in regtech?
Retired Member

Retired Member

How can the UK become a world leader in regtech?

The global regtech industry could be worth $85bn by 2032, how can the UK become a market leader? One of the key challenges facing the City of London is the growing competition from finance centres all around the world. New York continues to be a powerhouse attracting many exciting businesses to list, Singapore’s regulatory environment and digital i...

/regulation

How MiCA is already being embraced by financial services
Níamh Curran

Níamh Curran Senior Reporter at Finextra

How MiCA is already being embraced by financial services

Banking Circle has launched the first EU Markets in Crypto Assets (MiCA) compliant stablecoin, among the first cryptocurrency-related assets to be launched under the new regulation. MiCA doesn’t come into full effect until the end of this year, 30 December. Banking Circle has taken a plunge into the no-so-unknown in releasing this product – MiCA ha...

/regulation

What the US open banking rule means for consumers, FIs, and fintechs
Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

What the US open banking rule means for consumers, FIs, and fintechs

Interest is growing quickly - no doubt accompanied by some deep-seated indigestion as well - as US financial institutions, fintechs, and related service providers await the expected release of a key new US rule on Open Banking (Section 1033). While most agree it will bring positive advances for consumer data control and protection to the customer ...

/regulation

How US Inflation Reduction Act funds IRS high income taxpayer collections
Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

How US Inflation Reduction Act funds IRS high income taxpayer collections

As we continue to explore the potential outcomes of the US presidential election on financial institutions and fintechs, it seemed like a suitable time to take a second look at income taxes, one of the key components of every company’s financial planning and ongoing management. Turns out, a particular piece of two-year old climate change mitigatio...

/regulation

Key considerations for finance startups embarking on joint ventures
Tahmid Majeed

Tahmid Majeed Associate Solicitor at SA Law

Key considerations for finance startups embarking on joint ventures

Joint ventures can be a profitable endeavour for startups wanting to break new markets, especially in a challenging global economy. A survey last year of global executives found 58% preferred joint ventures to mergers and acquisitions due to economic uncertainty. A joint venture is two or more parties coming together for a specific business purpos...

/regulation

US regulators' warnings on bank-fintech partnerships: how they can benefit the industry
Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

US regulators' warnings on bank-fintech partnerships: how they can benefit the industry

There’s a right way and a wrong way to build and manage bank-fintech business relationships. Well, make that many ways to do both, as there are several critically important factors and practices that need to be considered (and monitored) in every such relationship, no matter its specific goals and structure. Over the past several weeks, vexing exa...

/regulation

Consumer Duty one year on
Níamh Curran

Níamh Curran Senior Reporter at Finextra

Consumer Duty one year on

Today is Consumer Duty’s birthday! It is one year since the implementation of rules for open products and services. The Financial Conduct Authority (FCA), whose jurisdiction the legislation comes under, have taken this one year anniversary Consumer Duty as an opportunity to announce they will be attempting to relieve some of the burden financial fi...

/regulation

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