Fintech / Regtech

Fintech / Regtech

EU Commission Approves Pilot Use Cases for Digital ID Wallet

By Editors | 27/12/2022

The approved pilots cover payments, travel, and business compatibility. The EU Digital Identity Wallet is expected to go live in 2024.

Fintech / Regtech

APRA Grants Full ADI Licence to Alex Bank

By Editors | 26/12/2022

The full ADI licence was granted 18 months after Alex Bank received its restricted ADI licence in July 2021.

Fintech / Regtech

SFC Calls Out Brokers for Slow Implementation of its Data Standards

By Manesh Samtani | 23/12/2022

Brokers are directed to assign one or more MICs to oversee the implementation of the Data Standards, which was meant to be completed in April 2021.

Fintech / Regtech

BNM Finalises New Rules for Payment System Operators

By Editors | 22/12/2022

The policy document primarily sets out regulatory requirements covering governance and risk management, in alignment with the PFMI.

Crypto / Digital Assets

BIS Papers Explore DeFi Benefits, Risks, and Systemic ‘Fragility’

By Mark Johnston | 22/12/2022

Regulators should address DeFi risks with globally consistent regulatory frameworks. Collateral liquidations in DeFi lead to lasting price impacts.

Crypto / Digital Assets

ESMA Issues Guidelines for Operators of DLT Market Infrastructure

By Editors | 22/12/2022

The guidelines include templates firms can use to apply for permission to operate DLT market infrastructure under the EU’s DLT Pilot Regulation.

Fintech / Regtech

Five Steps to Address E-Comms Risk and Avoid Regulatory Penalties

By Rupal Patel | 22/12/2022

The industry is playing catch up with the impact of working from home and must ensure e-comms risk is managed in a better way, says Rupal Patel at Acin.

Enforcement

UK Regulators Fine TSB Bank Over IT Upgrade Failures

By Editors | 22/12/2022

An IT system upgrade in April 2018 resulted in nearly 2 million TSB Bank customers being unable to access banking services.

Fintech / Regtech

HKMA Issues Guidance on Using Digital Platforms to Offer Credit

By Manesh Samtani | 21/12/2022

With the growing popularity of digital platforms to apply for credit products, banks are “reminded to ensure proper protection of their customers”, the HKMA said.