Global Fintech & Digital Assets

NOVEMBER 2, 2023

A proposed rule would increase Treasury’s insight into non-US crypto mixing transactions to combat illicit activities by malicious actors. According to FinCEN, mixers are generally required to register with FinCEN if they do business as money transmitters wholly or in substantial part in the US. By Parag Patel , Eric S.

Fincen 52

Fincen Money Laundering Law Enforcement Non-Bank 52

PYMNTS

OCTOBER 15, 2018

Launched in April 2017, the MSB Call Report required licensees to file by mid-May. Lambert stated that the MSB Call Report and Uniform Authorized Agent Report represent an ongoing effort by state regulators to unify reporting requirements.

Regulations 68

Regulations Privacy Reporting Requirements Laws 68

PYMNTS

SEPTEMBER 5, 2019

The Supreme Court ruled during 1992’s Quill Corp. North Dakota case that businesses must have physical, in-state presences to be subject to state sales tax requirements. The Supreme Court said South Dakota’s law had prevented undue burden from being placed on SMBs that had only minor economic participation. partners. .

Compliance 46

Compliance Laws Rules Governance 46

PYMNTS

SEPTEMBER 4, 2019

That all changed last year with the Wayfair vs. South Dakota ruling that sought to level the playing field for brick-and-mortar stores. Navigating these laws is easier said than done. In an interview with PYMNTS , Avalara President and COO Amit Mathradas talked about the impact tax laws are having on marketplaces.

Third Party Vendors 51

Third Party Vendors Laws Facilitators Small Business 51

FloQast

DECEMBER 13, 2023

As we’ll learn in the following section, the Sarbanes-Oxley Act became law in 2002 in response to a series of corporate financial scandals. SOX compliance is structured to be two-pronged and encompasses guidelines regarding corporate responsibility for financial reports and adequate internal financial controls.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

PYMNTS

JANUARY 3, 2020

In an interview with PYMNTS, Liz Armbruester, senior vice president of Global Compliance at Avalara , said 2019 represented a watershed year for tax compliance as states embraced the economic nexus model and passed marketplace facilitator laws. Other states are tinkering with laws already in place post-Wayfair.

Posting 53

Posting Cross-Border Compliance Facilitators 53

PYMNTS

MAY 22, 2018

That change would become effective 18 months after the bill is enacted — though the SIFI designation immediately lift for banks with assets under $100 billion, according to a Height Research report by Ed Groshans, senior vice president at the firm.

Regulations 40

Regulations Credit Union Community Banks FDIC 40

PYMNTS

APRIL 28, 2016

The agency, she said, is using the rules on the biggest market participants “to really expand its supervisory authority, including over emerging lenders, and the statute allows for that.”. As of right now, marketplace lenders have no direct federal supervisor, though they are still subject to FTC and CFPB consumer protection laws.

CFPB 40

CFPB Consumer Protection Regulatory Compliance FTC 40

Nanonets

FEBRUARY 9, 2024

In this case, the referee (actual control measures and checks) uses the playbook (company procedures built on accepted accounting principles) to manage the game (financial reporting). And, just as the rules vary between soccer and basketball, your referee's rules depend on your specific business.    What is SOX?

Audit 52

Audit Risk Assessment Assessments Procedures 52

PYMNTS

SEPTEMBER 25, 2019

The current regulatory climate remains in its relative infancy for this industry, so marketplace lenders are not only tasked with maintaining compliance but diligently tracking the regulatory landscape to forecast new and changing rules. In the U.S.,

Compliance 47

Compliance P2P Risk Management Regulatory Compliance 47

EBizCharge

SEPTEMBER 6, 2024

Data processing: Once inputted into the system, data is automatically processed according to the predefined accounting rules and policies. These features automatically calculate and apply the correct tax rates based on the location of the transaction, ensuring that businesses remain compliant with local, state, and federal tax laws.

Accounts 52

Accounts CRM Automation Audit 52

Nanonets

SEPTEMBER 21, 2023

Businesses must stay updated with the latest regulations and ensure adherence to reporting requirements, tax laws, and industry-specific guidelines. To overcome  payroll errors , businesses should adopt comprehensive payroll management systems that automate calculations and ensure compliance with tax laws.

Accounts 52

Accounts Audit Payroll Compliance 52

FICO

OCTOBER 26, 2017

As a result, financial institutions had to set up new processes, and most of the software vendors did not enhance their FATCA compliance solutions to cover the CRS reporting requirements. Same Goal, Different Rules for FATCA/CRS Compliance. Life did not get easier. all CRS countries).

Compliance 53

Compliance IRS Agreements Audit 53

Nanonets

JANUARY 17, 2024

Regulatory Compliance – Don’t Mess with The Law : Automated expense management ensures that you're always on the right side of the law, avoiding costly legal pitfalls. The role of an expense policy extends beyond mere rules; it's about setting the tone for how a company handles its finances.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52

Nanonets

AUGUST 2, 2023

This system is designed to streamline the export reporting process, improve trade statistics, and ensure compliance with US export laws. Before implementing the Automated Export System, exporters were required to fill out a paper SED form for each international shipment. What is the Shipper's Export Declaration?

Automation 52

Automation Regulations Compliance Legal 52

FICO

DECEMBER 15, 2020

Supreme Court set to rule in Facebook v. New Debt Collection Rules Are Here to Stay. The final rule addresses debt collection communications and interprets and applies prohibitions on harassment or abuse, false or misleading representations, and unfair practices. to report their beneficial owners to FinCEN.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52

FICO

JANUARY 5, 2023

The Consumer Financial Protection Bureau (CFPB) has indicated it will publish rules , not guidelines, aimed at strengthening consumers’ control over and providing portability of their financial account data, sometime in 2023. However, some have questioned whether the same consumer protection laws apply to all BNPL activity.

BNPL 52

BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52

PYMNTS

DECEMBER 28, 2016

One regulation in particular demonstrates Murphy’s earlier reflections on the challenges nonprofits face to not only comply with rules for all corporates but to also juggle nonprofit-specific regulations as well. The rule was slated to take effect Dec.

FinTech 59

FinTech Rules Regulations Payroll 59