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Fintech / Regtech
China to Interlink All Credit Reporting Systems Nationwide
By Editors | 17/10/2022
The PBOC will establish connectivity between all credit reporting systems and platforms nationwide, so data on each economic entity can be combined into a single “credit file”.
AML / KYC
Hong Kong Seeks Status as Global Hub for Virtual Assets
By Manesh Samtani | 17/10/2022
A new policy statement to be issued at Hong Kong FinTech Week may spell out plans to include retail investors in the city’s VASP regime.
AML / KYC
FCA Fines UK Challenger Bank for Weak AML Controls
By Editors | 17/10/2022
Gatehouse Bank failed to perform appropriate checks on customers based in high-risk countries and customers that were classified as PEPs.
AML / KYC
Singapore: SMS Sender ID Registration to Become Mandatory
By Editors | 15/10/2022
All non-registered SMS sender IDs after 31 Jan 2023 will be channelled to a sender ID with the header “Likely-SCAM”.
Fintech / Regtech
Thai SEC Launches New E-Licensing Services Pilot
By Editors | 15/10/2022
The services will initially allow online submissions of applications for two types of licenses. Full e-licensing services will launch in Q1 2023.
Securities / Derivatives
US SEC Approves Update to Electronic Recordkeeping Rule
By Editors | 13/10/2022
The amendments add an audit-trail alternative allowing electronic records to be preserved in a way that permits recreation if original records are altered, over-written, or erased.
Fintech / Regtech
IOSCO Offers Guidance on Curbing Online Misconduct
By Editors | 13/10/2022
IOSCO’s new report offers recommendations to address risks from online marketing and distribution of financial products targeting retail investors.
Fintech / Regtech
UK Regulators Launch Discussion Paper on AI Regulation
By Editors | 12/10/2022
The paper considers how current legal and regulatory requirements and guidance apply to the use of AI in UK financial services, and the gaps that may need to be addressed.
Fintech / Regtech
Worldline, NPCI to Enable Indian UPI Payments Across Europe
By Editors | 12/10/2022
The first target markets are set to include Benelux (Belgium, the Netherlands, and Luxembourg) and Switzerland, with further plans for expansion.
Fintech / Regtech
RBI Launches DAKSH, a New Supervisory Monitoring System
By Editors | 11/10/2022
The system will be used to monitor compliance and improve compliance culture at supervised entities such as banks and NBFCs, the RBI said.
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