Fintech / Regtech

Payments & Settlements

US Launches Instant Payments Service, FedNow

By Editors | 21/07/2023

35 early-adopting banks and credit unions are ready with instant payments capabilities via FedNow, and 16 additional service providers are supporting payment processing.

Market Abuse

SEBI Mandates Automated Trading Controls for Insiders

By Ranamita Chakraborty | 21/07/2023

India’s securities regulator is ensuring that insiders, also known as designated persons, from listed companies cannot trade during sensitive periods.

Data Privacy

Korea FSC Designates Eight More ‘Data Specialising Institutions’

By Sanday Chongo Kabange | 19/07/2023

The newly designated firms are allowed to converge anonymised and pseudonymised data from different businesses for analytics purposes.

AI Risk & Governance

AI Regulatory Sandboxes Need Cooperation and Expertise: OECD

By Ranamita Chakraborty | 19/07/2023

A recent OECD report on AI regulatory sandboxes highlights important policy considerations that emphasises the need to build AI regulatory expertise and interdisciplinary cooperation.

Cloud & Infrastructure

Philippines: Banks See Shift to XML-based Reporting as Beneficial, Despite Challenges

By Manesh Samtani | 19/07/2023

BSP officials and members of the banking community attended a Regulation Asia-Adenza roundtable to discuss new XML-based reporting requirements in the Philippines.

AI Risk & Governance

Chinese Authorities Release New Rules for Providers of Generative AI Services

By Editors | 19/07/2023

The rules require training data to be accurate, generated content to be properly labelled, security assessments to be performed, and channels for complaints reporting to be established.

AI Risk & Governance

US SEC Working on Rule Proposals to Mitigate Risks from AI

By Editors | 18/07/2023

SEC chairman Gary Gensler said AI could heighten financial fragility and promote herding behaviour among investors.

Cryptocurrency

Industry Working Group Opens Consultation on IVMS101 Enhancements

By Editors | 18/07/2023

The working group was formed in April and has met five times since to consider and approve revisions to the IVMS101 standard.

AI Risk & Governance

UNSC Hosts First-Ever Session on Artificial Intelligence

By Editors | 18/07/2023

UK Foreign Secretary James Cleverly called for urgent international cooperation in shaping the governance of AI.