Politics, Legal & Regulation

November 21, 2024 @ 7:33 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has announced final rules for non-bank digital payments and transfers. The payments sector of Fintech is one of the hottest segments of innovation, as users have quickly adopted digital wallets and more efficient payment methods. The CFPB’s move is… Read More

November 21, 2024 @ 7:17 am By Omar Faridi  |  

The European Central Bank (ECB) sees elevated financial stability vulnerabilities in a volatile environment, according to its November 2024 Financial Stability Review. Risks to euro area economic growth have shifted to the downside as inflation has moved “closer to 2%,” while financial markets have “experienced… Read More

November 20, 2024 @ 2:18 pm By JD Alois  |  

Regulation D (Reg D), the leading securities exemption for private offerings, is a huge market measured at over a trillion annually. Under the JOBS Act of 2012, Reg D received an update: old Reg D (506b) was joined by new Reg D (506c), an exemption that… Read More

November 20, 2024 @ 7:39 am By Omar Faridi  |  

The Bank of England has launched a consultation on Fundamental Rules for Financial Market Infrastructures and shares its approach to FMI supervision. The Bank aims to introduce a set of Fundamental Rules for UK Financial Market Infrastructures (FMIs), essential to the safe operation of the… Read More

November 19, 2024 @ 10:34 pm By Omar Faridi  |  

The Central Bank of Brazil (BCB) noted in an update that Pix now has security rules that apply for registering new devices. As mentioned in the update from BCB, cellphones, computers, and tablets being used in Brazil must now be registered with the bank to… Read More

November 18, 2024 @ 10:04 pm By Omar Faridi  |  

South Korean authorities are reportedly investigating crypto exchange Upbit for numerous KYC (Know Your Customer) violations. Due to these reported compliance failures at the Korean exchange, Upbit might have to pay fines as high as $71,500 for each case along with potential issues with its… Read More

November 18, 2024 @ 5:28 pm By JD Alois  |  

BIT Mining, formerly known as 500.com, has been charged with Foreign Corrupt Practices Act (FCPA) violations by the Securities and Exchange Commission (SEC). According to a statement issued by the SEC, BIT Mining has resolved the allegations by paying a $4 million civil penalty. 500.com… Read More

November 18, 2024 @ 11:42 am By JD Alois  |  

MiCA, or Markets in Crypto Assets regulation, is a transformative change in the European Union that provides regulatory clarity for digital assets that are not deemed to be securities. As the market is quite large, MiCA should help boost crypto innovation in the region—something other regions, like… Read More

November 18, 2024 @ 11:05 am By JD Alois  |  

The Swiss Financial Market Supervisory Authority FINMA has posted its Risk Monitor for 2024. According to the regulator, there are nine top principal risks for the financial sector aggravated by heightened geopolitical challenges. These highlighted risks are as follows: Risks associated with real estate and… Read More

November 15, 2024 @ 11:45 am By JD Alois  |  

The past few years at the Securities and Exchange Commission (SEC) have been tough for innovators during the tenure of Chairman Gary Gensler. When Gensler was selected to lead the top financial regulator, hopes were high that his extensive experience in markets and understanding of… Read More

November 15, 2024 @ 9:51 am By JD Alois  |  

The UK government has announced that the issuance of Gilts will be tested on distributed ledger technology (DLT) in a forthcoming pilot. If the UK issues government bonds using blockchain technology, this could transform how public authorities issue and manage debt offerings. In a speech… Read More

November 15, 2024 @ 9:29 am By JD Alois  |  

While stablecoins should not be a contentious issue as they are effectively a new form of payments, upgrading the current slower and more costly process, Congress has been unable to pass legislation that creates a regulated path for stablecoin issuers. The dominance in the US… Read More

November 15, 2024 @ 8:51 am By Omar Faridi  |  

Schroders welcomes the Mansion House proposals unveiled by UK Chancellor of the Exchequer Rachel Reeves, designed to drive growth and competitiveness in financial services. As part of the reforms, the Chancellor revealed measures to merge Local Government Pension Scheme assets and consolidate Defined Contribution (DC)… Read More

November 14, 2024 @ 4:07 pm By JD Alois  |  

As the Securities and Exchange Commission (SEC) winds down the Biden era of regulation, Chairman Gary Gensler took a moment to reflect on his accomplishments during his tenure as its head. Speaking at PLI’s Annual Institute on Securities Regulation, Gensler said effective markets do not happen by… Read More

November 14, 2024 @ 12:34 pm By JD Alois  |  

Following the results of the US Presidential election, Bitcoin bulls have taken charge as the value of the world’s most popular crypto has rocketed higher—today, it is trading at around $90,000 after topping out at over $93,000 yesterday (11.13.24)—a new all-time record. CI received a… Read More

November 12, 2024 @ 10:30 am By JD Alois  |  

The Investor Choice Advocates Network (ICAN) has filed a petition with the courts to compel the Securities and Exchange Commission (SEC) to act on a ruling that is said to be harming a client due to an extensive delay. ICAN, a non-profit law firm, and its… Read More

November 12, 2024 @ 9:24 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has reportedly fined Metro Bank PLC £16,675,200. The FCA noted that between the timeframe of June 2016 and December 2020, Metro Bank had allegedly failed to have the “right systems and controls” in order to adequately monitor over 60m… Read More

November 11, 2024 @ 2:36 pm By Omar Faridi  |  

With Trump’s re-election confirmed, the Republican party winning the Senate, and the House of Representatives edging closer to a Republican majority, investment platform Saxo interviewed Trump’s former Director of Communications and SkyBridge Capital founder Anthony Scaramucci on Monday, November 11th. Anthony Scaramucci is an American financier who briefly served as the White… Read More

November 11, 2024 @ 10:50 am By Omar Faridi  |  

Consumer Fintech Chime has reportedly submitted a comment to Joint Banking Regulators’ Request for Information on bank-fintech partnerships. Chime noted in a blog post that they recently submitted a comment letter in response to a Request for Information from federal banking regulators in the U.S…. Read More

November 11, 2024 @ 7:33 am By JD Alois  |  

The dust is still settling following former President Donald Trump’s sweeping win over Vice President Kamala Harris last week. The President-elect is slowly revealing who his is selecting for leadership roles which will help guide his policy in his forthcoming administration. While the Biden Administration… Read More