Regulation & Compliance - Long Reads, News, Articles & Research: Finextra

Starting the ISO 20022 countdown: The clock is ticking, but is the industry ready?

Dominique Dierks Senior Content Manager at Finextra

Starting the ISO 20022 countdown: The clock is ticking, but is the industry ready?

We’re just a few months out from the ISO 20022 CBPR+ deadline, and financial institutions globally are starting the last sprint towards readiness. By December 2024, only 32.9% of organisations had adopted the new messaging standard, showing the hurdles that are still ahead for many. Crucially, Swift has made it clear that the timeline will not...

6 hours /regulation

Racheal Muldoon Partner at Charles Russell Speechlys

Understanding the DORA deadline

This piece has been co-authored by Racheal Muldoon, partner, and Hasan Almosoy, associate, both in the financial services regulation and funds team at law firm Charles Russell Speechlys. Today is the deadline for fintech firms to ensure that existing measures sufficiently hold up to the new standards imposed by the EU's Digital Operational Resilien...

17 January 2025 /regulation

Hamish Monk Senior Reporter at Finextra

How to comply with PSD3

In June 2023, the European Commission (EC) announced plans to update its Payment Services Directive, which was originally designed to drive integration across the payments market, level the playing field for payment service providers (PSPs) and enhance security across the value chain. The latest proposed changes will swap the existing second Paym...

14 January 2025 /regulation

Cybersecurity in 2025: Financial services and insurance at the centre

Retired Member

Cybersecurity in 2025: Financial services and insurance at the centre

Cybersecurity has continued to be one of the most prominent challenges companies are facing, especially in financial services and insurance, often the most targeted industries. As we look ahead to the new year, the cybersecurity challenge shows no signs of easing as threats become more sophisticated by the day. That said, 2025 will mark an importa...

10 January 2025 /regulation

Consumer Duty: How to go beyond compliance

Hamish Monk Senior Reporter at Finextra

Consumer Duty: How to go beyond compliance

In force since 31 July 2023, the Financial Conduct Authority (FCA)’s Consumer Duty regulation was designed to improve financial services protections for consumers. Since the go-live date, firms have made numerous improvements, and better, fairer outcomes are being delivered to customers. Yet, there remains room for firms to improve, and to build...

06 January 2025 /regulation

Mind the fintech gap: Regulatory deadlines in 2025

Dominique Dierks Senior Content Manager at Finextra

Mind the fintech gap: Regulatory deadlines in 2025

What regulatory deadlines are coming up in 2025? The financial services sector is facing a significant number of regulatory and standard updates, so Finextra has collated an overview of significant deadlines that are coming up this year. January EU – DORA will apply from 17 January The EU’s highly anticipated Digital Operational Resilience Act (DOR...

03 January 2025 /regulation

Hamish Monk Senior Reporter at Finextra

How to comply with ISO 20022

The deadline for ISO 20022 – the new standard for electronic data interchange between financial institutions – is November 2025. Once fully implemented, ISO 20022 will be a game-changer for the global payments space; instilling enhanced interoperability, streamlined processing times, richer data, increased accuracy, lower maintenance costs, and e...

31 December 2024 /regulation

The fintech sentiment: Are banks ready for DORA?

Sehrish Alikhan Reporter at Finextra

The fintech sentiment: Are banks ready for DORA?

The EU Digital Operational Resilience Act (DORA) is intended to make the financial sector more secure, with the objective of bringing stability to the market and implementing ICT security and fraud measures. DORA will be fully applicable to financial institutions and IT service providers in the EU on 17 January 2025, after two years of preparation...

18 December 2024 /regulation

CFPB’s Section 1033: Will US open banking reach its potential?

Scott Hamilton Contributing Editor at Finextra Research

CFPB’s Section 1033: Will US open banking reach its potential?

Just over a month since the US Consumer Financial Protection Bureau released its 'final ruling' on the expansion of the Dodd-Frank Act, the financial services world has now weighed in with a variety of detailed viewpoints on the landmark personal data rights and open banking regulation. Will the new requirements for banking and fintech providers s...

04 December 2024 /regulation

Níamh Curran

What is a politically exposed person?

Politically exposed persons (PEPs) have been a big point of discussion in financial services throughout this year, with the Financial Conduct Authority (FCA) finding in July that financial firms need to be doing more to ensure that PEPs and their family members were being treated fairly. The regulator did not find any firms denying accounts to PEP...

02 December 2024 /regulation

UK National Payments Vision: What does it mean for fintech growth?

Chris Holmes Peer at House of Lords

UK National Payments Vision: What does it mean for fintech growth?

Late last week the government launched their National Payments Vision. Described as resting upon three key pillars of innovation, competition, and security it sets outs welcome detail on regulatory coordination and payment infrastructure upgrades, identifies Open Banking and fraud as priority areas and establishes a payments vision delivery commit...

20 November 2024 /regulation

US 2024 Elections: What President-Elect Donald Trump’s win means for fintech

Madhvi Sonia Head of Content at Finextra

US 2024 Elections: What President-Elect Donald Trump’s win means for fintech

After passing the threshold of 270 electoral votes needed to win, former President Donald Trump is expected to return to the White House to take up his post for the second time, after beating Democratic candidate Vice President Kamala Harris. After a nail-biting few months, Trump was elected with many of his voters citing inflation as the reason f...

06 November 2024 /regulation

Long reads