Tagged: european union

Germany: Crowdfunding Industry Criticizes Challenging Regulatory Approach by German Policymakers in Advance of Pan-European Rules

The German Bundestag recently reviewed legislation that will implement the European Crowdfunding Service Provider Regime Regulation (ECSP). According to industry participants, the German rules may fundamentally undermine online capital formation in the country just as the European Union is poised to boost the industry with… Read More

London Regtech ComplyAdvantage Releases Report Noting that Firms Update Risk Enterprise-Wide Assessments to Account for Digitization Trends

London-based ComplyAdvantage, a company that offers real-time financial crime insight that “puts you in control,” notes that the European Union has introduced a strategy to deal with  organized and financial crime and the US recently imposed new sanctions on Russia. While sharing recent financial crime… Read More

London based Fintech Tide Reveals that UK Remains Popular Destination for EU Company Founders

The United Kingdom remains a popular destination for EU-based company founders, according to a blog post recently published by UK-based challenger bank Tide. Brexit might have “severed” the UK’s political ties to the continent, however, it does not appear to have negatively impacted the UK’s… Read More

European Commission Reveals Rules & Actions for AI in the European Union

Today, the European Commission proposed new rules and actions as part of an effort to turn the European Union into a global hub for Artificial Intelligence (AI). The “first-ever” legal framework is designed to ensure trust and safety while fostering AI innovation. In a speech… Read More

Financial Infrastructure Developer Banking Circle Reveals it’s Now Fully Cloud based, Shares Other Fintech Industry Updates

The team at Banking Circle, a leading financial infrastructure developer, notes that as the first quarter of 2021 comes to an end, anti-money laundering or AML measures have been “a key focus in the industry.” The company writes in a blog post that following the… Read More

Lithuania Reserve Bank Governor Says Fintech Should Provide Competition for Nation’s Financial Services Sector

Lithuania, which has one of the fastest-evolving Fintech sectors in the EU, is experiencing a transformative shift from traditional banking service providers, a trend that’s being supported by the growing number of digital transactions and the launch of new virtual payments startups. The Baltic nation,… Read More

Cross-border Fintech Wise Talks IBAN Discrimination on World Consumer Rights Day, Other Fintechs Join Wise to Address Challenges

This World Consumer Rights Day, which took place on March 15, 2021, Fintech firm Wise (previous TransferWise) talked about what they consider to be IBAN “discrimination.” This World Consumer Rights Day, let’s talk about IBAN discrimination. IBAN discrimination is against the law – and has… Read More

EU Draft Documents Surface Addressing Distributed Ledger Technology, Crypto-Assets

  Two draft documents by the European Parliament, Committee on Economic and Monetary Affairs, addressing distributed ledger technology (DLT or blockchain) as well as crypto-assets have emerged. The first is a draft document on the proposal for a regulation of the European Parliament and of… Read More

France: Autorité des Marchés Financiers Comments on Alternative Investment Fund Managers Directive

The French Autorité des Marchés Financiers (AMF) has distributed its position on the European Commission’s consultation on Alternative Investment Fund Managers Directive (AIFMD). The AIFMD seeks to create a level playing field across Europe for Alternative Investment Funds (AIF) and is part of the overal… Read More

European Commission Calls for a Digital Decade

The European Commission has shared its vision for the digital transformation of Europe by 2030. The policy initiative is an all-encompassing approach to many aspects of the economy and daily existence. The EU states that this builds on the Commission’s digital strategy of February 2020…. Read More

European Securities and Markets Authority Drafts Standards for Pan European Crowdfunding Rules: Industry Prepares to Provide Feedback

This past week the European Securities and Markets Authority (ESMA) issued a consultation paper addressing standards for the previously approved pan-European crowdfunding regulation. As covered in the past, the European Union has passed legislation to enable online securities offerings across its member nations. After many… Read More

Currencycloud Says the Days of Unrestricted EU Market Access for UK Firms are Over, Explains how to Approach New Business Environment

Currencycloud, a cross-border payment platform, notes in a blog post that UK businesses have been struggling to deal with various issues ever since the country voted in 2016 to leave the European Union (EU). While the agreement reached between the United Kingdom and European Union… Read More

Nina Stoyanova from Bulgarian National Bank Says Digital Technologies have Improved the Financial Services and Payments Sector

Nina Stoyanova, Deputy Governor and Head of the Banking Department of the Bulgarian National Bank, has noted that digital technologies have significantly changed the financial services provision business, and the payment sector is “the leader in this trend.” Stoyanova notes that the overall speed of… Read More

Dr. Joshua Ellul: Chairman of Malta Digital Innovation Authority Explains how AI, IoT, Blockchain based Smart Contracts are Improving Digital Economy

We recently caught up with Dr. Joshua Ellul, the Chairman of Malta Digital Innovation Authority and Director of Centre for DLTs, University of Malta. Dr. Ellul discussed how blockchain-based smart contracts are streamlining routine business processes. He also talked about his research interests which include… Read More

UK Banks Say they Need to be “Liberated” to Invest in IT to Defend Against Fintech Challengers, Big Tech, US Banks

The Bank of England (BoE) is getting ready for its first major break from European Union regulations with a new proposal that might make bank capital rules a lot more strict in the UK (when compared to other jurisdictions). The European Banking Authority had noted… Read More

France: AMF Chairman Embraces EC Move to Regulate Crypto Assets, “Potential gains to be expected from DLT can be significant”

Speaking about the ongoing digital transformation of financial services the Chairman of the French Autorité des Marchés Financiers (AMF), Robert Ophèle, commented on the emergence of crypto assets (digital assets) for both non-securities and securities. Ophèle first noted the ongoing COVID health crisis has helped… Read More

New Data Regulation to Draw on Notions of Privacy, Data Localization Another Key Trend in 2021, According to Blockchain Professional

Li Jun, Founder of Ontology and the SAGA Protocol, notes that we’re now living through an “activist period” of data regulation that will most likely dictate how our economies function for “generations to come.” Jun pointed out that most industries have “precedents” for regulation that… Read More

European Online Lending Platform October Warns Financial Crimes are on the Rise following COVID Outbreak including Money Mules

European online lender October recently alerted consumers about the money muling fraud. The company explained what usually takes place when bad actors carry out these fraudulent activities and shares tips to avoid getting scammed. October notes that if you’re being offered “opportunities” to make easy… Read More

Open Banking Services being Used by Over 2.5 Million UK Consumers and Businesses to Complete Payments: Report

Banking Circle, a financial infrastructure developer, notes that only a month into the new year, and partnerships are already beginning to emerge as “a strong theme underpinning the future of the industry.” Banking Circle also confirmed that they’ve teamed up with global provider of local… Read More

A Discussion with Oliver Gajda of the European Crowdfunding Network: Expect Platform Consolidation & Cross Border Expansion

The European Crowdfunding Network (ECN) has long been the leading voice advocating on behalf of investment crowdfunding platforms across Europe. The member-driven group has been at the forefront of engaging with policymakers at the European Commission – an initiative that finally paid off when new… Read More

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