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Latest Results from /regulation

/regulation

UK companies backsliding on sanctions screening

UK companies are failing to keep up with the requirements for sanction-screening prospective clients despite the high level of global geopolitical unrest, according to a recently published survey.

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UK should tap open banking to take on card schemes - govt-commissioned review

The UK should use open banking to provide retailers with an alternative to card payments and to improve "clunky" P2P bank transfers, says a new government-commissioned review.

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DORA to spark changes in risk management tech

The imminent introduction of the EU's Digital Operational Resilience Act (DORA) will force sell-side firms to make significant changes to their third party risk management software and strategies, suggests a recently published survey.

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Binance pays $4.3bn and CEO pleads guilty to settle US AML charges

Binance has agreed to pay $4.3 billion to settle a long-running investigation by the US Department of Justice, with the crypto exchange's founder Changpeng "CZ" Zhao also stepping down as CEO and pleading guilty to violating anti-money laundering requirements.

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SEC sues crypto exchange Kraken

The US Securities and Exchange Commission has sued Kraken, accusing the crypto trading platform of operating as an unregistered securities exchange, broker, dealer, and clearing agency.

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Mastercard gets green light for domestic payments processing in China

Mastercard has finally secured formal approval to begin domestic payment processing in China, enabling the US firm to issue yuan-denominated banks cards in the country.

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Revolut to offer bond trading for EU clients

UK fintech Revolut has set its sights on Europe's fixed income market as the next investment option for its clients.

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Irish association calls for national fintech centre

A lobby group representing Ireland's financial services sector has called on the government to establish a physical centre for fintech firms.

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Canadian fintechs demand open banking action

Dozens of technology leaders have signed a letter to Canada's finance minister calling for a clear roadmap for the delivery of a long-awaited open banking framework.

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Payday lender Enova fined and banned from offering short-term loan deals

US payday lender Enova has been fined $15 million by the Consumer Financial Protection Burea (CFPB) and banned from offering short-term loans in the wake of "widespread illegal conduct".

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Singapore develops generative AI risk framework; digital money and ESG also to the fore

The Monetary Authority of Singapore has brought together banks and tech firms to develop a generative AI risk framework and is now exploring how the technology can be used in the financial services sector.

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FCA taps OneMarketData for market surveillance

The UK's Financial Conduct Authority (FCA) has picked OneMarketData for the provision of a new cloud-based market surveillance and visualisation system.