The Fintech Times

NOVEMBER 5, 2024

Banking regulators should exercise their authority to regulate and supervise fintechs directly, so banks are not forced to serve as ‘quasi-regulators’, the Bank Policy Institute and the Clearing House Association have urged in a new letter.

Regulations 57

Regulations Office of the Comptroller of the Currency FinTech Due Diligence 57

The Fintech Times

JULY 15, 2024

Akshata Namjoshi, Kabir Kuma, and Ahlam Faouzi The UAE has positioned itself at the forefront of the global virtual assets sector, becoming a pioneering jurisdiction in developing comprehensive regulations for virtual assets. A unique characteristic of FSRA’s regulatory framework is the regulation and licensing of the issuance of fiat tokens.

Stablecoins 96

Stablecoins Regulations Multi-Currency Issuers 96

Fintech Finance

OCTOBER 4, 2024

Obtaining the operating authorization from the National Bank of Romania (BNR), on October 1, 2024, six months after submitting the authorization application, allows the start of operations and the continuation of preparations for the launch of the system. We are open to continue discussions with various entities in the Romanian market.”

Authorization 87

Authorization Online and Mobile Banking Payments Legal 87

The Payments Association

OCTOBER 23, 2024

On 25 September 2024, the UK Financial Conduct Authority (FCA) published its long-awaited Consultation Paper (CP24/20) setting out proposed changes to the safeguarding rules applicable to electronic money institutions (EMIs) and payment institutions (PIs) (together, payments firms). What does this mean for Payments firms?

Rules 88

Rules Payments Institute Authorization Reconciliation 88

Fintech Finance

OCTOBER 15, 2024

Aspire , a Singapore-headquartered all-in-one finance platform for modern businesses, today announced that it has received in-principle approval (IPA) for the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).

Payments Institute 95

Payments Institute Authorization Payments Finance 95

Fintech News

APRIL 10, 2024

Authored by Juan Carlos Crisanto , Johannes Ehrentraud , and Denise Garcia Ocampo , this report underscores the increasing prominence of stablecoins in the financial landscape, pointing out their potential to mirror the value of fiat currencies.

Stablecoins 120

Stablecoins Regulations Risk Mitigation Digital Currency 120

Finextra

JUNE 24, 2024

The Swedish Financial Supervisory Authority (SFSA) has issued an injunction to SEB and the other Swedish owner banks of Bankgirot to ensure they fulfill the requirements of the EU’s Wire Transfer Regulation (WTR) before 31 December 2026.

Wire Transfer 98

Wire Transfer Regulations Wires Wire 98

Neopay

OCTOBER 23, 2024

The European Banking Authority (EBA) has published its final Guidelines on the orderly redemption of token holders in case of crisis of the issuer. Source : European Banking Authority Documents Final report on Guidelines on redemption plans under MiCAR (546.09

Regulations 52

Regulations Issuers Authorization Addressing 52

VISTA InfoSec

OCTOBER 21, 2024

A data protection officer role is to act as a bridge between organizations, its employee, and the regulatory authorities ensuring that the handling of personal data is safe, lawful and in line with regulations like GDPR (General Data Protection Regulation). Additional Responsibilities of DPO (As seen in other Regulations) 1.

CCPA 130

CCPA Privacy Laws Data Breach 130

Fintech Finance

OCTOBER 24, 2024

As the government plans to regulate buy now pay later firms by 2026, more than one in ten millennials (13%) and Gen Z (11%) consumers plan to put Christmas on credit using buy now pay later apps*, RSM UK’s latest Consumer Outlook reveals. RSM UK recommends providers take the following steps to prepare for the new regulation.

Regulations 89

Regulations Agreements Checks Consulting 89

Finextra

JULY 31, 2024

The European Banking Authority (EBA) today launched a public consultation on its draft Implementing Technical Standards (ITS) for uniform reporting templates in relation to the level of charges for credit transfers and share of rejected transactions under SEPA Regulation.

Consulting 59

Consulting Regulations Authorization Transactions 59

Fintech News

APRIL 14, 2024

Money20/20 Asia, set for 23-25 April at the Queen Sirikit National Convention Center in Bangkok, will prominently feature regulators from Asia’s financial sector among its speakers. The post Money20/20 Asia Set to Spotlight APAC Regulators for Fintech Growth appeared first on Fintech Singapore. Register at this link.

APACS 107

APACS Regulations Cross-Border Cross-Border Payments 107

The Fintech Times

NOVEMBER 15, 2024

However, the Polish Financial Supervision Authority (KNF) has warned that Cinkciarz.pl However, the Polish Financial Supervision Authority (KNF) has warned that Cinkciarz.pl quickly published a response to KNF’s statement explaining it was “taken aback” by the stance taken by the Polish regulator.

Regulations 57

Regulations Origination Authorization Process 57

The Fintech Times

SEPTEMBER 12, 2024

However, it is key not to forget the role of the regulator. In July, the Competition and Markets Authority (CMA) revealed four UK high-street banks had failed to comply with banking rules designed to keep customers safe. Should regulators impose tougher penalties on firms that fail to comply?

Compliance 62

Compliance Regulations Financial Crimes Non-Bank 62

PYMNTS

DECEMBER 14, 2018

In an effort to help authorized push payment (APP) fraud victims, The U.K.’s s Financial Conduct Authority (FCA) unveiled new rules on Friday (Dec. Authorized push payment fraud is a case when fraudsters encourage a victim to make money transfer authorizations with methods such as bogus text messages that claim to come from a bank.

Authorization 66

Authorization Regulations Scams Online and Mobile Banking 66

Finextra

SEPTEMBER 24, 2024

The Hong Kong Monetary Authority (HKMA) has started the second phase of its digital Hong Kong dollar pilot study.

Regulations 85

Regulations Authorization 85

Neopay

DECEMBER 18, 2023

Given the cross-border nature of financial crime, the new authority will boost the efficiency of the anti-money laundering and countering the financing of terrorism (AML/CFT) framework, by creating an integrated mechanism with national supervisors to ensure obliged entities comply with AML/CFT-related obligations in the financial sector.

Money Laundering 52

Money Laundering Authorization AML Agreements 52

Fintech News

FEBRUARY 27, 2024

2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.

APACS 112

APACS Regulations Stablecoins Cryptocurrency 112

The Payments Association

JULY 29, 2024

While the speed and convenience of open banking solutions helps to improve convenience, transparency, and confidence in payments, it also increases the chances for fraud, and in particular authorized push payment (APP) fraud.

Regulations 88

Regulations Authorization Service Provider Technology 88

Fintech News

NOVEMBER 17, 2024

APAC financial regulators and cloud providers recently conducted a first-of-its-kind crisis management exercise simulating a large-scale public cloud outage impacting the region’s financial sectors. This exercise comes at a time of heightened awareness surrounding the potential for widespread disruption from technology failures.

Risk 89

Risk Best Practices APACS Authorization 89

Neopay

JULY 18, 2024

MiCAR establishes regimes for regulating the issuance, offering to the public, and admission to trading of electronic money tokens (EMTs), asset-referenced tokens (ARTs), and other crypto-assets. The Regulation also establishes a framework for crypto-asset service provision.

Consulting 52

Consulting Regulations Legal Authorization 52

Seon

APRIL 18, 2024

billion in 2022 , facing a formidable opponent in the financial sector: authorized push payment (APP) fraud. Spanning a variety of duplicitous practices that rely on tactics that manipulate trust and authority. The United States is poised to witness losses increase to $3 billion by 2027, up from $1.94

Authorization 52

Authorization Technology Fraud Prevention Real Time Payments 52

PYMNTS

SEPTEMBER 13, 2020

Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported. In a joint statement Friday (Sept. The association declined to comment, Reuters reported.

Central Bank 145

Central Bank Cryptocurrency Regulations Stablecoins 145

Neopay

DECEMBER 18, 2023

This Call for Proposals sought to determine what additional metrics it is most appropriate for the regulators to publish, in order to ensure that reporting on the new secondary objectives is sufficient to support scrutiny of the regulators’ work in embedding and advancing their new objectives.

Consulting 52

Consulting Regulations Authorization Facilitators 52

PYMNTS

MARCH 9, 2018

While the European Banking Authority has created a “roadmap” on how to regulate emerging FinTech services, the body is not keen on creating a unified approach to cryptocurrency regulation — at least not yet, Reuters reported.

Authorization 53

Authorization Regulations FinTech Cryptocurrency 53

The Fintech Times

MAY 11, 2024

A refreshing sentiment that stands in stark contrast to the usual grumblings elsewhere that regulations hinder innovation. In Dubai, stakeholders view regulations as a catalyst for growth and success, providing a sturdy foundation that drives the thriving developments in the fintech sector.

Regulations 57

Regulations FinTech Innovation Authorization 57

Fintech News

NOVEMBER 13, 2024

The Monetary Authority of Singapore (MAS) received fewer than five complaints annually over the past five years concerning online “finfluencers,” Parliament was told during a session. Most of these complaints involved remarks by individuals who did not provide financial advice and therefore did not fall under MAS regulation.

Authorization 82

Authorization Regulations Risk Product 82

The Paypers

JULY 18, 2024

The FSTB and the Hong Kong Monetary Authority have announced the consultation results on a legislative proposal for regulating stablecoin issuers in Hong Kong.

Stablecoins 36

Stablecoins Issuers Regulations Consulting 36

Fintech News

MAY 8, 2024

Additionally, as part of Project Guardian ’s policymaker group, the UK Financial Conduct Authority (FCA) and MAS, along with other policymakers, are advancing discussions on the regulatory treatment of digital assets, including DLT.

Finance 109

Finance Regulations Cross-Border Payments Cross-Border 109

Neopay

NOVEMBER 27, 2023

The Financial Conduct Authority (FCA) and the Bank of England (the Bank) are requesting feedback on their proposed approach to regulating stablecoins. The proposals to regulate stablecoins aim to protect consumers, prevent money laundering with a robust set of rules and to safeguard financial stability.

Stablecoins 52

Stablecoins Regulations Money Laundering Issuers 52

The Paypers

APRIL 23, 2024

The German Federal Financial Supervisory Authority ( BaFin ) has demanded bank Commerzbank pay a fine of EUR 1.45 million over AML regulation breaches.

AML 41

AML Breach Regulations Authorization 41

The Paypers

AUGUST 16, 2022

The European Union (EU) has announced plans to create a sixth Anti-Money Laundering Authority that will be specifically tasked with regulating the cryptocurrency industry.

Regulations 69

Regulations Money Laundering Cryptocurrency Authorization 69

The Paypers

JANUARY 9, 2023

The Israel Securities Authority (ISA) has released a draft proposal in order to define the legal status of cryptocurrencies in the country.

Authorization 36

Authorization Security Regulations Legal 36

PYMNTS

JUNE 10, 2020

EU authorities can fine companies for violations under the General Data Protection Regulation (GDPR). In a statement, authorities said they intend to coordinate investigations and potential actions over TikTok’s practices across the EU, Bloomberg reported. Authorities said there are concerns about potential misuse.

Privacy 101

Privacy Authorization Federal Trade Commission FTC 101

The Fintech Times

JANUARY 11, 2024

The Computer & Communications Industry Association (CCIA) has responded to the Consumer Financial Protection Bureu ‘s request for comments on a proposal to define and regulate larger participants in the general-use digital consumer payment marketplace.

Regulations 62

Regulations CFPB Request for Comment Funds Transfer 62

The Paypers

OCTOBER 9, 2023

UK-based Komainu has successfully registered with the UK Financial Conduct Authority just before the regulator issued new crypto marketing rules.

Authorization 36

Authorization Rules Regulations 36

PYMNTS

NOVEMBER 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Regulators and lawmakers, however, can latch onto digital currency efforts as they must monitor and also supervise such stablecoins. In a paper that debuted Tuesday (Nov.

Stablecoins 92

Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency 92