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Fintech / Regtech
AML / KYC
FSS Inspections Find AML Deficiencies at Korean e-Payments Firms
By Editors | 06/09/2023
The FSS said management awareness of AML work within electronic financial businesses is low; internal controls and risk assessments are deficient.
Fintech / Regtech
UK House of Commons Report Calls for Dedicated Bill on AI Governance
By Manesh Samtani | 06/09/2023
Key committee outlines 12 challenges related to AI governance, calls for the introduction of a “tightly-focused” AI Bill in the next King’s Speech.
Fintech / Regtech
Trade Bodies Call on Industries to Adopt eBL Declaration
By Editors | 06/09/2023
The declaration signals a commitment to collaborate on digitalisation and adopt eBLs, which will enable faster transactions, cost savings, and lowered fraud risks.
Fintech / Regtech
Australia Consults on Feasibility of ‘Screen Scraping’ Ban
By Editors | 06/09/2023
New discussion paper seeks views on a recommendation to ban screen scraping in situations where the CDR is a viable alternative.
Capital / Liquidity
FSB Warns of ‘Further Shocks’ in G20 Progress Update
By Manesh Samtani | 06/09/2023
The update also discusses the FSB’s work to address NBFI risks, implement its recommendations on crypto regulations, and respond to climate-related risks.
Fintech / Regtech
SEBI Plans to Move to One-Hour Stock Settlement Cycle
By Editors | 06/09/2023
India just completed a move from T+2 to T+1 settlement in January. Reportedly, implementation of one-hour settlement is likely by March 2024.
Fintech / Regtech
RBI Permits Banks to Use UPI With Credit Lines
By Sanday Chongo Kabange | 05/09/2023
Scheduled commercial banks can now transfer funds to and from credit lines through the UPI system.
Crypto / Digital Assets
LSEG to Push Forward Plans to Develop Digital Markets Business
By Editors | 05/09/2023
LSEG has been exploring a possible blockchain-powered trading venue for about a year and has now reached an “inflection point”.
Fintech / Regtech
China Enhances Monitoring of Programme Trading in Stock Market
By Editors | 05/09/2023
The enhanced monitoring programme seeks to address concerns over rising algorithmic trade-driven market volatility.
Fintech / Regtech
Fragility of Deep Learning Models May Present Systemic Risk: BOE
By Manesh Samtani | 04/09/2023
New paper says the “underlying fragility” of deep learning frameworks used by FIs increases risks for individual firms and the financial system.
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