Transaction Monitoring

The European Securities and Markets Authority (ESMA) has issued a consultation on aspects of suitability requirements under the Markets in Financial Instruments Directive (MiFID II).

After a strong 2021, many RegTech companies are looking ahead to the new year with optimism for another year of advancement and greater innovation. With the pandemic still raging on, 2022 could be another year for RegTech companies to further ingrain themselves into the system. What trends should the industry look out for this year?

US-based tech-powered tax platform April Tax Solutions has raised $10m from a seed funding round and has officially launched operations.

A report by the House of Lords’ Economic Affairs Committee has warned how a digital pound could harm financial stability, raise credit costs and erode privacy.

The Philippines has launched its inaugural Sustainable Finance Framework in order to support its sustainability commitments.

During a year of heightened financial crime, the Financial Conduct Authority (FCA) handed out £568m in fines during 2021.

The Hong Kong Monetary Authority (HKMA) has called for the regulation of fiat-currency backed stablecoins similar to that of banks.

South Korea’s Financial Services Commission (FSC) has announced a raft of measures aimed at revitalising the Korea New Exchange (KONEX) stock market.

RegTech firm PassFort has revealed it has successfully completed its System and Organisation Controls (SOC 2) Type 2 audit.

As another challenging year comes to an end, the task for organisations to remain compliant in new working environments is still ongoing. Despite firm efforts by many to avoid penalties, some institutions were unable to duck fines last year. Here are the top five compliance failure fines from the year of 2021.