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

UK AI regulation: Second reading of the AI Bill

Chris Holmes Peer at House of Lords

UK AI regulation: Second reading of the AI Bill

Lord Christopher Holmes presented the following speech for the House of Lords on March 21, 2024. I believe if we are to secure the opportunities and control the challenges of artificial intelligence, it's time to legislate AI systems that are principles-based, outcomes-focused, input-transparent, and permissioned, that are paid for and understood. ...

27 March 2024 /regulation

2024 is the UK's landmark year for stablecoin regulation

Arjun Lakhani Managing Associate at Linklaters LLP

2024 is the UK's landmark year for stablecoin regulation

The UK has already made some important strides to regulate the cryptoasset sector over the last few years, focusing on consumer protection and anti-money laundering initiatives. This includes the UK’s Financial Conduct Authority (FCA) prohibiting the sale of crypto-derivatives to retail consumers, the application of the Money Laundering Regulation...

21 March 2024 /regulation

The Spring Budget: How does it impact fintech?

Níamh Curran Senior Reporter at Finextra

The Spring Budget: How does it impact fintech?

Jeremy Hunt, UK chancellor of the exchequer, presented his Spring Budget to a raucous House of Commons earlier today. It has been speculated this is the last budget this government will present, with the potential of a UK General Election looming. From a fintech perspective, Hunt said the UK is on track to become the world’s next Silicon Valley. Th...

06 March 2024 /regulation

Non-Performing Loans are now subject to regulation: What it means

Renate Prinz Partner at McDermott Will & Emery LLP

Non-Performing Loans are now subject to regulation: What it means

Let’s take a moment to remember the time after the financial crisis of 2007 and 2008: credit institutions tried at all costs to get rid of their huge non-performing-loan (NPL) portfolios. In our daily legal work, we repeatedly supported those institutions, explaining what was possible, how it could be done and, above all, what was not possible for...

04 March 2024 /regulation

Spotify is David, Apple is Goliath, and the DMA could be its slingshot

Sehrish Alikhan Reporter at Finextra

Spotify is David, Apple is Goliath, and the DMA could be its slingshot

The EU’s Digital Markets Act (DMA) is coming into action on March 7, 2024, and it’s making Big Tech sweat. The new antitrust EU regulation’s aim is to make digital markets more equitable and competitive, and is doing so by categorising certain big monopolising companies as ‘gatekeepers’. Gatekeepers are defined as having core platform offerings in...

21 February 2024 /regulation

What is PSD3? An overview of changes and timelines

Dominique Dierks Content Manager at Finextra

What is PSD3? An overview of changes and timelines

In June 2023, the European Commission announced plans to modernise the Payment Services Directive, ushering in the third Payment Services Directive (PSD3). The long-awaited proposal outlines changes designed to adapt the directive to developments in the European payments market and ongoing digitisation of payments. PSD3 will have a significant im...

16 February 2024 /regulation

How upcoming legislation will harness algorithms, AI, and big tech for public good

Chris Holmes Peer at House of Lords

How upcoming legislation will harness algorithms, AI, and big tech for public good

The fourth industrial revolution, as with the previous three, has ushered in an age of exciting new opportunities thanks to the digital tools and products now available to us, initiating innovation and making more choice and better services for consumers and citizens possible. These are all positive benefits that we should celebrate but as we desi...

02 February 2024 /regulation

Labour’s Financial Services Review: Everything fintechs need to know

Níamh Curran Senior Reporter at Finextra

Labour’s Financial Services Review: Everything fintechs need to know

The UK’s Labour Party published its Financial Services Review this week and highlighted fintech as the future of financial services in the UK. The Review has been released ahead of a potential election later this year. The foreword of the report said: “We believe a strong financial services sector will drive investment in jobs and new industries....

01 February 2024 /regulation

Fintech Regulation Update: Preparing for a sustainable Lunar New Year

Madhvi Sonia Head of Content at Finextra

Fintech Regulation Update: Preparing for a sustainable Lunar New Year

Here’s the second edition of a new Finextra long read series summarising the latest regulatory updates impacting the financial services, technology or fintech industries, and how financial market participants should mind the gap between the regulations that have not fully caught up with the pace of innovation. Payments Lunar New Ye...

29 January 2024 /regulation

5 reasons why you should adopt ISO 20022 now

Nicolas Stuckens Head of ISO 20022 adoption and data quality at Swift

5 reasons why you should adopt ISO 20022 now

ISO 20022’s rich data is at the heart of achieving the industry’s ambition for instant and frictionless payments. It opens big benefits for firms that embrace the opportunity. Here are five reasons why you should adopt the standard today. ISO 20022 adoption marks a giant leap forward in the evolution of global payments. Its rich, structured data us...

22 January 2024 /regulation

Fintech Regulation Update: Mind the gap ahead of 2024

Madhvi Sonia Head of Content at Finextra

Fintech Regulation Update: Mind the gap ahead of 2024

Here’s the first edition of a new Finextra long read series summarising the latest regulatory updates impacting the financial services, technology or fintech industries, and how financial market participants should mind the gap between the regulations that have not fully caught up with the pace of innovation. Payments Payments s...

29 December 2023 /regulation

The transformative potential of the Data Protection and Digital Information Bill

Chris Holmes Peer at House of Lords

The transformative potential of the Data Protection and Digital Information Bill

If it’s all about the data, then the Data Protection and Digital Information Bill must matter, and it does. Having completed its initial Commons stages it will receive second reading in the House of Lords today (19th December 2023). I will be exploring the vast opportunities afforded by the bill – as well as questioning the government on some of t...

19 December 2023 /regulation

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