/regulation & compliance

News and resources on regulation, compliance, legal and governance issues for banks and fintechs.

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Latest news

Busha and Quidax granted provisional licenses by Nigerian SEC

Busha and Quidax granted provisional licenses by Nigerian SEC

FCA rules and slow approval times dent the UK's aspirations to become a global crypto hub

FCA rules and slow approval times dent the UK's aspirations to become a global crypto hub

3

Deutsche Bank settles majority of claims in Postbank case

Deutsche Bank settles majority of claims in Postbank case

2

FCA chair accused of revealing identity of internal whistleblower - FT

FCA chair accused of revealing identity of internal whistleblower - FT

NatWest added to Texas energy ban

NatWest added to Texas energy ban

2

/regulation

Community

Steve Ponting

Steve Ponting Director at Software AG

Compliance: Seeing the woods, AND the trees

Ben O'Brien

Ben O'Brien Managing Director at Jaywing

Balancing AI innovation and model risk: Insights from SS1/23

Ben O'Brien

Ben O'Brien Managing Director at Jaywing

FCA PS24/3: Understanding the new requirements and how to prepare

Ade Adetosoye

Ade Adetosoye Chief Operating Officer at MA GLOBAL

The Importance of Customer Duty Guidance on Payment Services in the UK

All /regulation opinions
[New Whitepaper] APIs, Automation, and AI: An Arsenal to Defend Against Card Transaction FraudFinextra Promoted[New Whitepaper] APIs, Automation, and AI: An Arsenal to Defend Against Card Transaction Fraud
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Company updates

All /regulation company updates

Crypto exchange Quidax secures Nigerian provisional license

CFTC slaps $22 million fine on Nasdaq Futures for regulatory violations

Flutterwave expands African footprint with Ugandan payments licence

OakNorth secures authorisation in the US

Howden integrates FullCircl into Acturis

/regulation

More news

PSR sets out next steps for variable recurring payments in the UK

PSR sets out next steps for variable recurring payments in the UK

5

CFPB and American Fintech Council stake out AI positions to Treasury

CFPB and American Fintech Council stake out AI positions to Treasury

Asic sues ASX over failed clearing house replacement system

Asic sues ASX over failed clearing house replacement system

1

Russia cancels AmEx subsidiary's banking licence

Russia cancels AmEx subsidiary's banking licence

1

Judge orders Ripple to pay $125m penalty

Judge orders Ripple to pay $125m penalty

Wise targets huge Indian remittance market

Wise targets huge Indian remittance market

2

All /regulation news
/regulation

Trending

FCA rules and slow approval times dent the UK's aspirations to become a global crypto hub

Busha and Quidax granted provisional licenses by Nigerian SEC

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/regulation

Expert opinions

Steve Ponting

Steve Ponting Director at Software AG

Compliance: Seeing the woods, AND the trees

Two thirds (65%) of businesses say that tech complexity makes governance issues worse. In an industry like financial services, this simply won’t do. As FS and banking Chief Compliance Officers (CCOs) know, rapid deployment of new technology and processes since the pandemic has forced a complexity onto businesses which causes headaches for employees...

/regulation /people

Ben O'Brien

Ben O'Brien Managing Director at Jaywing

Balancing AI innovation and model risk: Insights from SS1/23

Recently, the UK Government called upon key regulators—including the ICO, FCA, and Bank of England (which incorporates the PRA)—to outline their strategic approach to Artificial Intelligence (AI). In response, the Bank of England highlighted various existing regulations that demonstrate its capacity to supervise AI. Notably, SS1/23 featured prom...

/ai /regulation

Ben O'Brien

Ben O'Brien Managing Director at Jaywing

FCA PS24/3: Understanding the new requirements and how to prepare

The Financial Conduct Authority (FCA) has introduced policy statement PS24/3, implementing mandatory Product Sales Data (PSD) reporting for consumer credit firms. This significant change will reshape how affected companies collect, manage, and report data. Our blog post breaks down the key aspects of these new requirements and offers guidance to ...

/regulation

Ade Adetosoye

Ade Adetosoye Chief Operating Officer at MA GLOBAL

The Importance of Customer Duty Guidance on Payment Services in the UK

Introduction The financial landscape in the UK is rapidly evolving, with payment services becoming more sophisticated and integral to daily transactions. As the industry grows, so does the complexity of navigating it, particularly for customers who may not be familiar with the nuances of various payment services. This is where customer duty guidan...

/regulation

Alexander Boehm

Alexander Boehm Chief Executive Officer at PayRate42

Whistleblowers: The Unsung Heroes Safeguarding the Financial World

The whistleblowers are considered the unseen guards of an otherwise complicated—sometimes esoteric—world of finance with hardly any accounts of malpractices and illegal rackets. They are the people with courage who work behind the curtain to ensure transparency of operations and integrity of an industry indispensable to the global economic system....

/regulation /crime

All community in /regulation
/regulation

Trending

Steve Ponting

Steve Ponting Director at Software AG

Compliance: Seeing the woods, AND the trees

Ben O'Brien

Ben O'Brien Managing Director at Jaywing

Balancing AI innovation and model risk: Insights from SS1/23

Ben O'Brien

Ben O'Brien Managing Director at Jaywing

FCA PS24/3: Understanding the new requirements and how to prepare

Ade Adetosoye

Ade Adetosoye Chief Operating Officer at MA GLOBAL

The Importance of Customer Duty Guidance on Payment Services in the UK

Alexander Boehm

Alexander Boehm Chief Executive Officer at PayRate42

Whistleblowers: The Unsung Heroes Safeguarding the Financial World

/regulation

Research

APIs, Automation, and AI

White Paper

APIs, Automation, and AI

An Arsenal to Defend Against Card Transaction Fraud Fraudsters are no longer individuals who are looking to infiltrate gaps or weaknesses in how our businesses are set up. They are expert technologists and strategists that steal customer data, take over accounts and break into tough security measures. Between 2023 and 2027, merchants are expected to lose a total of $343 billion to online payment fraud, driving home the point that the time is now for technology to be leveraged to reduce card transaction fraud, which is growing in numbers and complexity. APIs, automation, and AI are all integral to an effective fraud mitigation strategy in 2024. This Finextra whitepaper, produced in association with Mastercard, discusses how these technologies – if used in the right way – can support financial institutions evolve to emerging threats with increased speed and accuracy.

189 downloads

Payment Fraud in 2024: Who is Liable?

Impact Study

Payment Fraud in 2024: Who is Liable?

Fraud is a billion-dollar business in the Instant Payments era. Statistics show that ecommerce fraud is predicted to exceed $48 billion globally by the end of 2023 alone and could exceed $362 billion between 2023 and 2028.  In 2024, banks will not only contend with the changing liability landscape, but the upcoming adoption of ISO 20022 as well. Both represent a historical shift in the financial services industry. To prepare for a higher degree of liability in a data-rich environment, banks need to address the holistic landscape of fraud mitigation.  This Finextra impact study, produced in association with NICE Actimize, addresses the changing liability landscape and what banks need to do to prepare for regulatory changes and increased fraud protection.  We cover:  Shifting liability and the impact of new PSR regulation  ISO 20022’s impact on the financial industry  Financial industry priorities in 2024  And more. 

602 downloads

The Future of UK Fintech - 2015-2035

Future of Report

The Future of UK Fintech - 2015-2035

An IFGS Special Edition UK Fintech Week 2024 With UK Fintech Week's flagship event - Innovate Finance Global Summit (IFGS) - returning for its 10th anniversary, Finextra and Innovate Finance have partnered to publish this report, which acts as your go-to-guide to everything you need to know about financial services and technology in the UK. ‘The Future of UK Fintech: 2015 – 2035: An IFGS Special Edition’ includes commentary from the brightest and best across the fintech ecosystem, discussing and debating the crucial issues facing the sector now and in years to come. This includes key insights from industry experts from Cogo, EY, Konsentus, Marqeta, Standard Chartered Ventures, and Zopa Bank. Scoping out the next decade to come, this report explores the agenda topics below and more: The Next Decade of FS and Innovation: What Lies Ahead Fintech Beyond FS Borders: How Fintech is Impacting other Industries and Sectors UK and the World: Keeping our Crown while Learning from Others Transformative Technologies: Opportunities and Risks Users of Tomorrow: The Next Generation of Consumers The Shifting Ecosystem: Who Will Lead?

655 downloads

All /regulation research
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FinextraTV

The Intersection of Wildlife Trafficking and Financial Crime

The Intersection of Wildlife Trafficking and Financial Crime

FinextraTV, Julia Thorn, Senior Marketing Manager, Financial Crime Compliance, LexisNexis® Risk Solutions and Robert Campbell, Programme Director of United for Wildlife, The Royal Foundation of The Prince and Princess of Wales, dive deep into their recently released report on how wildlife trafficking can be combatted with the power of collaboration. Exploring the objectives of the report, the pair doubled down on the importance of enforcement data and how this data can be used for good by looking for patterns that are more relevant to financial institutions than first thought. Further, financial institutions must consider wildlife trafficking as organised crime and as the money involved cannot be hidden under the bed - it moves through commercial entities such as airports and shipping ports - this form of money laundering must be mitigated.

How Open Banking will Enable Embedded Finance

How Open Banking will Enable Embedded Finance

How the Commercial Payments Market is Evolving

How the Commercial Payments Market is Evolving

SEPA, ISO 20022 and the Road to Innovation and Resiliency

SEPA, ISO 20022 and the Road to Innovation and Resiliency

2024 Payments Trends and Adding Value

2024 Payments Trends and Adding Value

All /regulation on FinextraTV
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Events

September 2024

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September 2024

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Webinar

Ensuring interoperability in the age of global, cross-border e-invoicing

Are European businesses prepared for the fundamental changes that directives such as ViDA will bring to e-invoicing?

Speakers from: Flowin by Isabel Group, Pagero

Online 218

Webinar

Real Time Goes Global: Expanding Revenue Potential Beyond Borders

How real-time will hit the big time and expand revenue potential for financial institutions of all sizes.

Speakers from: CGI Inc., Mastercard

Online 242

Webinar

Payment Scams and Fraud: Changing Bank Behaviour and Regulatory Frameworks

Is the financial services industry acknowledging that there is a shared responsibility between banks and consumers to protect accounts and payments?

Speakers from: LHV Bank, Outseer, Thistle Initiatives

Online 438

Webinar

Banks and Credit Unions: How to Establish the Core Banking Blueprint

What upgrades in core architecture must growing institutions consider to enable productive client banking relationships?

Speakers from: i2c Inc., Ohpen, Ikano Bank

Online 215

4 Events in September
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October 2024

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October 2024

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Webinar

Automated testing: The road to evergreen compliance

How can banks future-proof their compliance process with automated testing?

Speakers from: Unifits

Online

1 Event in October
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All /regulation events
/regulation

Long reads

How MiCA is already being embraced by financial services
Níamh Curran

Níamh Curran Senior Reporter at Finextra

How MiCA is already being embraced by financial services

Banking Circle has launched the first EU Markets in Crypto Assets (MiCA) compliant stablecoin, among the first cryptocurrency-related assets to be launched under the new regulation. MiCA doesn’t come into full effect until the end of this year, 30 December. Banking Circle has taken a plunge into the no-so-unknown in releasing this product – MiCA ha...

What the US open banking rule means for consumers, FIs, and fintechs
Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

What the US open banking rule means for consumers, FIs, and fintechs

Interest is growing quickly - no doubt accompanied by some deep-seated indigestion as well - as US financial institutions, fintechs, and related service providers await the expected release of a key new US rule on Open Banking (Section 1033). While most agree it will bring positive advances for consumer data control and protection to the customer ...

How US Inflation Reduction Act funds IRS high income taxpayer collections
Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

How US Inflation Reduction Act funds IRS high income taxpayer collections

As we continue to explore the potential outcomes of the US presidential election on financial institutions and fintechs, it seemed like a suitable time to take a second look at income taxes, one of the key components of every company’s financial planning and ongoing management. Turns out, a particular piece of two-year old climate change mitigatio...

All /regulation long reads

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