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

Emerging markets and the compliance challenge

Following the global financial crisis in 2008, correspondent banks began reassessing their emerging market strategies. In recent years, both compliance costs and potential regulatory risks have grown sharply, making it more challenging to stay engaged. Many banks have already decided they would rather not take on the challenge – as the 22% global d...

06 July 2021 /regulation

Madhvi Sonia Head of Content at Finextra

The future of payments: Scheme juggling

Following the determination that SWIFT messaging standard MT was below the mark for today’s evolving payments industry, its requirement for frictionless services and secure movement of high-quality, expensive data, ISO 20022 was established. This is an excerpt from Finextra Research report 'The Future of Payments 2021', which is exclusively availab...

24 June 2021 /regulation

The future of payments: An open future for finance

Paige McNamee

The future of payments: An open future for finance

The push from open banking toward the more encompassing approach of open finance is being driven by several elements, from consumer pressure to regulatory obligations to greater awareness around privacy concerns. However, there is by no means a unanimous approach to open banking, and certain players believe that we are at different stages of compl...

22 June 2021 /regulation

The Bank of England’s digital currency proposal an exploration of digital sterling

Arvin Abraham Partner at Goodwin Procter

The Bank of England’s digital currency proposal an exploration of digital sterling

Sometimes lost in the excitement around Bitcoin and cryptocurrencies is the potential for digital asset technology to revolutionise more traditional forms of money. The emergence of new and disruptive technologies in the currency space is creating incredible pressure for central banks the world over to compete and to co-opt some aspects of these n...

11 June 2021 /regulation

Is UK open banking mature enough to survive without the OBIE?

Paige McNamee

Is UK open banking mature enough to survive without the OBIE?

In March 2021 the CMA launched its consultation on the future governance of open banking, a process in which the Open Banking Implementation Entity (OBIE) sits firmly at the centre. On May 17, the CMA published an update featuring consultation responses from key stakeholders, and a final decision as to the future strategic direction is expected to...

09 June 2021 /regulation

The answers to Big Tech’s problems lie in tech itself

The Hon Albert Isola Minister for Digital and Financial Services at HM at Government of Gibraltar

The answers to Big Tech’s problems lie in tech itself

Policy makers, regulators, and tech giants must work together for the industry to flourish, writes The Hon Albert Isola, Minister for Digital and Financial Services, Gibraltar. Over the last 25 years, the technology industry has accelerated at a rapid pace, bringing with it innovations that have changed the nature of life in virtually every aspect...

27 May 2021 /regulation

Why the Phone-paid Services Authority is resetting its regulatory approach

Paige McNamee

Why the Phone-paid Services Authority is resetting its regulatory approach

The Phone-paid Services Authority, the PSA, is the UK regulator for content, goods and services charged to a phone bill. This encompasses the goods and services that can be bought by charging the cost to the phone bill or pre-pay account and typically include charity donations by text, music streaming, broadcast competitions, directory enquiries, ...

25 May 2021 /regulation

What does the FCA’s consultation into SPAC listings mean for UK fintech?

Paige McNamee

What does the FCA’s consultation into SPAC listings mean for UK fintech?

The FCA’s four-week consultation into Special Purpose Acquisition Companies (SPACs) has begun, with decisions around strengthening investor protections expected to be announced and in place by early summer 2021. The consultation which proposes to amend rules to allow an alternative approach for listed SPACs comes at an inflection point in the glob...

12 May 2021 /regulation

The Westminster Series: Following UK Fintech Week, we are strong

Chris Holmes Peer at House of Lords

The Westminster Series: Following UK Fintech Week, we are strong

Last week’s UK Fintech week was one of the best yet. Without a hand shook, stand up lunch stuffed, or business card traded, Innovate Finance demonstrated just what can be achieved through modern means to bring our community together to such great effect. The Chancellor’s opening keynote set the tone, an exemplary example of value over volume. He ha...

28 April 2021 /regulation

Greensill’s demise is not enough to dampen UK's fintech spirits

Paige McNamee

Greensill’s demise is not enough to dampen UK's fintech spirits

As Greensill Capital’s spectacular fall from grace continues to play out in Westminster, questions are circling around what the potential ramifications of its demise signify for UK fintech. In the same week that Chancellor Rishi Sunak announced several updates to the UK’s CBDC strategy and confirmed that recommendations set out in The Kalifa Revie...

23 April 2021 /regulation

Risky Business Series: An evolution of risk management

Richard Dupree CEO and Founder at Riskliance

Risky Business Series: An evolution of risk management

This piece was co-authored by Richard Dupree and Joshua Rapp. I have written about other aspects of risk management and will continue to do so, but each idea for a new article brings me back to the same fundamental question. Why do we have risk management? What is the value of effective risk management and are financial services companies optimis...

22 April 2021 /regulation

Is the Bank of England’s CBDC announcement overdue?

Paige McNamee

Is the Bank of England’s CBDC announcement overdue?

Chancellor Rishi Sunak recently announced several significant updates to enhance the UK’s competitive advantage in fintech, one of which pertains to exploration of a retail central bank digital currency (CBDC). A CBDC is a central bank-issued digital money, denominated in the national unit of account, representing a liability of the central bank a...

21 April 2021 /regulation

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