Tagged: compliance

Equifax Releases Security Report Focusing on Compliance and Privacy Controls

Equifax (NYSE: EFX) released its 2023 Security Annual Report, documenting the company’s continued commitment to security leadership through constant adaptation and proactive protection. The fourth annual report outlines how Equifax “increased efficiency, reduced friction and strengthened continuous controls governance across its internal security program, while… Read More

Binance Joins Global Travel Rule Alliance to Enhance Interoperable Compliance and Security

Making crypto compliant with existing regulatory frameworks and interoperable with traditional legal and financial systems is “an enormous yet hugely worthwhile task,” according to Binance, which remans the world’s largest crypto exchange in terms of trading volume and overall scope of operations. This, despite having… Read More

Digital Compliance Firm SmartSearch Announces New Investment to Support Growth Plans

SmartSearch, a UK provider of digital compliance and anti-money laundering (AML) software, has today announced it has signed an agreement to receive a significant equity investment from Triple Private Equity. With its investment, Triple will now take “a majority share in the business and will… Read More

Reg A+ Needs Some Fixes: Issuer Shares Challenges of Raising Money Using the Crowdfunding Exemption

There are three securities exemptions created by the JOBS Act of 2012 that enable firms to raise money online. Reg CF [Regulation Crowdfunding], Reg D 506c (accredited only), and Reg A+ [Regulation A]. If a company uses Reg A+, they may raise up to $75… Read More

FINRA Fines M1 Finance for Alleged Violations Regarding Use of Influencer Program

FINRA announced that it has fined M1 Finance LLC $850,000 for social media posts made by influencers on the firm’s behalf that were not fair or balanced, or contained exaggerated, unwarranted, promissory or misleading claims. This case arises from FINRA’s targeted exam of firm practices… Read More

Nigerian Authorities Seeking to Extend Detention of Binance Execs

Nigeria is reportedly planning to further extend the detention of Binance executives. As reported by Reuters, Nigerian authorities have requested an Abuja court to prolong the detention of key Binance executives who are allegedly now part of the nation’s wide-ranging cryptocurrency crackdown. This, after an… Read More

Regtech: Wolters Kluwer TAA UK Releases AML Module within CCH iFirm, the Compliance Software Platform

Wolters Kluwer Tax & Accounting (TAA) U.K. has released an anti-money laundering module (AML) within CCH iFirm, its cloud-based practice management and compliance software platform. Wolters Kluwer CCH iFirm AML seamlessly integrates “with CCH Central, Wolters Kluwer TAA’s on-premise system, reducing the need to rekey… Read More

Payments Fintech PPRO Announces Key Appointments to Support Legal and Compliance Processes

PPRO, the local payments platform, has announced the appointment of three new senior leaders across legal and compliance: Selene Brett as Chief Legal, Risk and Compliance Officer, Marc Kuzak as Legal Director, and Massimiliano Conte as Compliance Director. Through these new appointments, PPRO is bolstering… Read More

Global Regtech Jumio Appoints Igor Beckerman as CFO

Jumio, a provider of end-to-end identity verification and compliance solutions, has announced the addition of Igor Beckerman as Chief Financial Officer. Beckerman has three decades of finance leadership experience, most notably “as leading customer success platform Gainsight’s first-ever CFO, and at Marketo, where he served… Read More

HashKey Group and OKX to Support Compliant Digital Asset Innovation in Hong Kong

HashKey Group, an end-to-end digital asset financial services group in Asia, and OKX, a global Web3 technology company and crypto exchange, announced plans to “create a partnership to promote compliant virtual asset innovation and industry development in Hong Kong.” The planned collaboration is to “include… Read More

Tally of Financial Services Regulatory Penalties at $5 Billion for 2023, a 69% Increase – Report

Financial penalties assessed by financial regulators in the US have jumped by 69% versus the year prior when comparing 2023 to 2023, according to a report.Fenergo, a Client Lifecycle Management (CLM) firm serving financial services, has tallied the numbers and claims that penalties stood at… Read More

Regtech ComplyAdvantage Releases Financial Crime Report, Examining Fraud, Money Laundering, Illicit Activities

ComplyAdvantage has launched its annual report into fraud, money laundering, and financial crime: The State of Financial Crime 2024. The latest research report identifies “the criminal use of artificial intelligence (AI) as an emerging fraud challenge while revealing that most financial institutions are investing in… Read More

Credas Technologies, the ID Verification Regtech, Announces Update to Help with Adjusting to Rule Changes Announced by Trading Standards

Credas Technologies, the identity verification checks provider, has announced the launch of its material information function, helping estate agents “to get ahead of the latest rule changes announced by Trading Standards at the end of last year.” The Parts B and C of The National… Read More

France: AMF Issues Warning Against Firms Proposing “Atypical” Investments without Being Authorized

The AMF is warning the public against several companies proposing atypical investments without being authorised to do so. The Autorité des Marchés Financiers regularly “updates its black lists of new websites and entities proposing atypical investments to investors in France without being authorized to do… Read More

TaxBit Introduces CESOP Compliance Platform for Digital Asset Exchanges in the EU

TaxBit, the provider of compliance solutions for digital assets, announced the launch of its CESOP Compliance Platform, catering to crypto exchanges operating in the EU. This solution addresses the upcoming CESOP compliance requirements set “to commence in Q1 2024, underscoring TaxBit‘s dedication to upholding tax… Read More

Carta to Assist US-based Startups with Complying with Corporate Transparency Act

Effective January 1, 2024, virtually all new companies being incorporated in the United States will need to “comply with the Corporate Transparency Act (CTA),” the team at Carta noted. As explained in a blog post by Carta, this new law will “require them to submit… Read More

Fintech and Consumer Protection Professional Shara Chang Joins Chime as Chief Compliance Officer

Chime is pleased to welcome Shara Chang to the company as Chief Compliance Officer. Shara reportedly “brings 15 years of financial services, fintech, and consumer protection experience to Chime.” She’s previously advised banks and high-growth companies “on regulatory compliance, risk management, and product development.” As… Read More

Regtech Salv Secures €3.9M in Additional Funding to Expand UK Operations

Regtech Salv, with its suite of tools to help banks and service companies fight financial crime, has raised €3.9m in new funding, “bringing its capital raised this year to €7.9m and total funding to €12.1m.” The round includes investments “from new and existing investors and… Read More

Binance’s Dominance of Crypto Sector Continues to Decline, Exchange to Fully Exit Russian Markets

Crypto exchange Binance, which recently agreed to pay a massive $4.3 billion+ as part of an unprecedented settlement with US regulators, is now preparing to leave the Russian market. The company will also end support for Ruble-based transactions due to regulatory challenges. Binance confirmed that… Read More

Regtech Fourthline Selected as Qonto’s Solution for Verification of Customer Compliance During KYC in France, Spain, Italy

The pan-European Fintech Fourthline selected as Qonto’s technology solution in the verification of customer compliance during onboarding (KYC) in France, Spain and Italy. Fourthline is a European fintech founded in 2017 that “has developed a technology suite enabling financial services providers to carry out KYC… Read More

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