Tag: financial regulation

Politically Exposed Persons (PEPs) have been a longstanding concern in the world of banking and finance, with their identification being a crucial element of anti-money laundering (AML) regulatory requirements for over two decades. Recent events, such as Russia's invasion of Ukraine, have propelled PEPs into the spotlight, as even prominent figures in British politics found themselves denied access to their bank accounts due to their PEP status, as Moody's Analytics discussed in their recent white paper.

The wave of recordkeeping enforcement actions in the finance sector has now expanded to brokers, investment advisers, and credit rating agencies. Leading this charge are the U.S. Securities and Exchange Commission (SEC) and the Commodity Trading Futures Commission (CFTC).

Key Italian FinTech investment stats in H1 2023 • Italian FinTech deal activity reached 33 deals in H1 2023, a 6% drop YoY • Italian FinTech...

Flagright recently detailed how financial industry companies can manage third-party risks in compliance solutions.

MSB have emerged as a crucial part of the financial ecosystem, bridging a gap that once only traditional banks would fill.

The MAS has initiated a consultation on a framework to bolster the surveillance and defence against ML risks in Singapore's SFO sector.

The final deadline for compliance with the UK Financial Conduct Authority's (FCA) new Consumer Duty is swiftly approaching in July 2023. The regulatory agency has been actively providing guidance, conducting multi-firm reviews, and sharing specific industry insights in the form of Dear CEO Letters to ensure that firms are adequately prepared for the implementation.

Compliance within the financial services industry has taken a new turn as online trading and the emergence of 'finfluencers' on social media platforms have magnified the risks of market manipulation. The shift in the landscape demands greater attention to the prevention, detection, and mitigation of market abuse.

The FCA has banned on referral fees for certain debt advice providers in an effort to support consumers facing financial difficulties.

The Financial Conduct Authority (FCA), the UK's principal financial regulator, sent a pointed "Dear CEO" letter on 16 March 2023. Austrlian RegTech company Arctic...