Compliance

The UK's competition watchdog Competition and Markets Authority (CMA) has issued a warning to Monzo, NatWest Group, Virgin Money and Bank of Ireland after they breached a rule requiring them to send banking transaction histories to former account holders.

Data governance and management company Collibra has closed a $58m Series D financing round, led by existing investors ICONIQ Capital and Battery Ventures.

Ocrolus, which automates financial document reviews, has landed $4m in Series A funding.

A City watchdog has publicly censured collapsed payments company Premier FX for failing to safeguard its customers’ money and for misuse of its payment accounts under the Payments Services Regulations.

Kyckr, a Know Your Customer RegTech provider, has raised $5.3m via a placement from a small group of institutional and sophisticated investors.

A report by Verizon has found that over 85% of data attacks in 2020 involved some form of human interaction.

Data compliance startup OneTrust has hit a $1.3bn valuation thanks to a huge Series A investment round led by private equity house Insight Partners.

Jama Software, a Portland, Oregon-based product development platform provider, has landed $200m.

Robinhood to pay nearly $70m to resolve sweeping regulatory allegations that the brokerage misled customers, approved ineligible traders for risky strategies and didn’t supervise technology that failed and locked millions out of trading.

Investment in RegTech companies has reached record levels in the first six months of 2019. The question is why that is and if the growth will continue.