Latest Regulation & Compliance News: Finextra Research

Komainu scores FCA crypto registration

Komainu, a digital asset custodian joint venture between Nomura, CoinShares, and Ledger, has secured crypto registration from the UK's Financial Conduct Authority.

09 October 2023

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Amazon Web Services and Microsoft cloud duopoly to be investigated by Ofcom

Historically, it could be argued that financial institutions were beholden to pick between AWS, Google Cloud and Microsoft Azure for all workloads due to availability, but with other smaller cloud providers offering private cloud fabrics, financial organisations are considering hybrid or multicloud options. However, Ofcom has an alternative view.

06 October 2023

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Will Metro Bank be 2023’s next banking collapse?

Metro Bank has had a rough week. News that the UK challenger bank was planning to raise up to £600 million from investors, prompted financial watchdogs to summon the bank’s bosses for a sit-down.

06 October 2023

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Central banks bid to embed compliance requirements into real-time transactions

The Bank for International Settlements, along with the central banks of Australia, Korea, Malaysis and Singapore, is exploring the possibility of embedding regulatory requirements into cross-border transactions.

05 October 2023

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Canadian fintechs launch open banking public campaign

Some of Canada's largest fintechs have launched a campaign to rally public support for government action on open banking and payments modernisation.

05 October 2023

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Finnish fintech Saldo makes move into banking services

Finnish fintech Saldo is gearing up to launch banking services in the country, beginning with a savings account.

05 October 2023

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Monzo hires Cash App's Conor Walsh as US CEO

UK digital challenger bank Monzo has hired former Cash App global product head Conor Walsh to lead a renewed push into the US market.

04 October 2023

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Revolut and Softbank agree share deal in battle for banking licence

Revolut has finally struck a deal with primary backer SoftBank on a change to the latter's shareholding, clearing away a key obstacle in the fintech's long-running battle to obtain a UK banking licence.

04 October 2023

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FCA probes Revolut over red-flag accounts - FT

The Financial Conduct Authority is looking into whether Revolut allowed money to leave accounts flagged as suspicious by the National Crime Agency, according to the Financial Times.

02 October 2023

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FCA calls for era of “new enlightenment” for financial inclusion

At the Scottish Financial Enterprise: Extending Financial Inclusion event in Glasgow this afternoon, CEO of the Financial Conduct Authority (FCA) Nikhil Rathi delivered a speech on how the regulator plans to implement policies to include the financially excluded in the current cost of living crisis, calling it “a new enlightenment” for financial inclusion.

29 September 2023

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WFE's regulatory affairs head on the risks of unregulated crypto-trading platforms

“Using the term exchange can be misleading if you’re not doing these things,” said Richard Metcalfe, head of regulatory affairs at the World Federation of Exchanges (WFE) when speaking to Finextra after laying out their six recommendations for regulators and crypto trading platforms.

29 September 2023

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Zumo first to conform to FCA’s tech-based crypto promotion rules

Zumo has become the first digital asset platform to integrate tech-based requirements of the Financial Conduct Authority’s (FCA’s) new financial promotions regime for cryptoasset firms.

29 September 2023

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