Search Results for: financial services

August 12, 2024 @ 10:13 pm By Omar Faridi  |  

In June 2023, the Financial Services Agency of Japan (FSA) amended the Payment Services Act (PSA) to provide an updated regulatory framework for crypto assets and stablecoins. According to an update from Blockdaemon, these regulations have clear implications “for Crypto Asset Exchange Service Providers (CAESP)… Read More

August 10, 2024 @ 10:52 am By Omar Faridi  |  

Consumer protection is a strategic pillar for the Malta Financial Services Authority (MFSA) and enabling financial literacy is part of this key objective. By supporting financial literacy and promoting a stable financial system, the Authority is committed to “fostering responsible and informed financial decision-making by… Read More

August 2, 2024 @ 12:46 pm By JD Alois  |  

The House Financial Services Committee Republicans have posted a report on ESG entitled, “The Failure of ESG: An Examination of Environmental, Social and Governance Factors in the American Boardroom and Needed Reforms.” In recent years, ESG has infiltrated corporate America as well as the political… Read More

July 29, 2024 @ 3:12 pm By JD Alois  |  

The Chairman of the House Financial Services Committee, Patrick McHenry, has named Kim Betz as the new staff director for the Committee. McHenry issued a statement indicating Betz has been a close confident and top advisor during his tenure as the Chair. “Her deep experience… Read More

July 28, 2024 @ 5:01 pm By Omar Faridi  |  

Embedded finance provider Weavr has obtained an Electronic Money Institution (EMI) License from the Maltese Financial Services Authority (MFSA) to support its European embedders. Weavr announces that it has “acquired a European e-money license.” The license is significant for both Weavr and the embedded finance… Read More

July 25, 2024 @ 12:38 pm By Omar Faridi  |  

The Malta Financial Services Authority (MFSA) has released a “Dear CEO” letter outlining the results emanating from a thematic review focused on Money Laundering Reporting Officers (MLROs) operating within Company Service Providers (CSPs) set up as corporate entities. As highlighted in the latest rendition of… Read More

July 24, 2024 @ 1:24 pm By JD Alois  |  

The House Financial Services Committee has placed two more hearings of note on its calendar. First is a hearing on ESG, or Environmental, Social, and Governance—a buzzy word that took industry by storm only to recede as the nebulous concept emerged as a distracting political… Read More

July 23, 2024 @ 10:32 pm By Omar Faridi  |  

The U.S. Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) published a suite of resources to share with financial services institutions on effective practices for their secure cloud adoption journey. These deliverables are the result of a year-long public-private partnership of… Read More

July 22, 2024 @ 4:31 pm By Omar Faridi  |  

Airwallex, the Australia-founded financial platform for modern businesses, has reportedly become the first major payments company to be granted an Australian Financial Services Licence (AFSL) by the Australian Securities and Investment Commission (ASIC) to offer businesses access to retail investment products. This is an additional… Read More

July 18, 2024 @ 4:28 pm By JD Alois  |  

The House Financial Services Committee has revealed a report on Artificial Intelligence (AI). The staff report comes from the Committee’s bipartisan Working Group on AI. The report is being released in advance of a Committee hearing next week entitled “AI Innovation Explored: Insights into AI… Read More

July 17, 2024 @ 4:09 pm By Omar Faridi  |  

Law firm Mishcon de Reya LLP recently shared key insights impacting the Fintech and broader financial services sector. Based in London, Mishcon de Reya services an international community of clients and “provides advice in situations where the constraints of geography often do not apply.” The… Read More

July 16, 2024 @ 3:40 pm By JD Alois  |  

The House Financial Services Committee has scheduled a hearing entitled “AI Innovation Explored: Insights into AI Applications in Financial Services and Housing.” The hearing, which is for the full committee, will take place on Tuesday, July 23rd. The Hearing may reflect the recent position paper… Read More

July 9, 2024 @ 9:21 pm By Omar Faridi  |  

Ethos, a financial services company dedicated to ethically minded consumers in the UK, has partnered with Thought Machine, the cloud-native banking technology company, to launch a Shariah-compliant digital service. Ethos will deploy Thought Machine’s core banking platform, Vault Core, to offer seamless and real-time Shariah-compliant… Read More

July 3, 2024 @ 3:40 pm By JD Alois  |  

The Subcommittee on Financial Institutions and Monetary Policy, part of the House Financial Services Committee, has scheduled a hearing entitled Financial Institution-Fintech Partnerships: Leveraging Third-Party Relationships to Increase Access to Financial Services. This specific hearing is a “field hearing” and will take place outside of… Read More

July 1, 2024 @ 9:46 am By Omar Faridi  |  

The Malta Financial Services Authority (MFSA) released its Annual Report, highlighting the stability and resilience of the Maltese financial services industry in 2023. Malta’s financial services sector is reportedly “a major player in the country’s economic success.” Between 2022 and 2023, the financial services sector… Read More

June 29, 2024 @ 4:00 pm By Michael Wong  |  

Fintech firm Chime announced its acquisition of Salt Labs, an enterprise technology company dedicated to enhancing the financial stability of hourly workers. The transaction, which did not disclose its financial details, positions Chime to tap into new growth and revenue opportunities through Salt Labs’ extensive… Read More

June 28, 2024 @ 5:17 pm By Omar Faridi  |  

Retail investors are often seen as overly indexing tech stocks; however, financial services is the most owned sector among this group, according to data from the latest Retail Investor Beat (RIB) from trading and investing platform eToro. In the study of American retail investors, 54%… Read More

June 21, 2024 @ 6:06 pm By Omar Faridi  |  

Laser Digital has reportedly received Financial Services Permission from ADGM’s Financial Services Regulatory Authority to provide services in both traditional and digital assets. Laser Digital (AD) Limited, is pleased to announce that the Financial Services Regulatory Authority of Abu Dhabi has “approved the issuance of… Read More

June 15, 2024 @ 3:13 pm By Omar Faridi  |  

Over 25% of the 474 investigations carried out by the MFSA in 2023, were related to persons or entities which were suspected of undertaking licensable activities without having obtained the necessary authorizations, or scams. These investigations include suspicious activity or dubious schemes which “appeared to… Read More

June 12, 2024 @ 10:46 pm By Omar Faridi  |  

The Financial Services Regulatory Authority (FSRA) of ADGM and the Bermuda Monetary Authority (BMA) have recently announced the signing of a joint Digital Assets Memorandum of Understanding (MoU). The MoU creates a framework “enabling the collaboration between the BMA and the FSRA to support the… Read More