ComplianceRSS

Allied Irish Banks hit with €2.3m fine for AML fails

AIB 1

Allied Irish Banks (AIB) has been fined €2.3 million by Ireland’s central bank for compliance failures over anti-money laundering (AML) and terrorist financing laws. AIB was reprimanded for six breaches of the law – which occurred between July 2010 and July 2014. It has admitted to these breaches. The central bank says AIB failed to […]

Fintech in the US: where is regulation headed?

Di Florio will be responsible for protecting US investors

Aaron Cutler, partner, and Loyal Horsley, associate at Hogan Lovells, examine the state-level fintech regulation, proposed legislative solutions, and provides a brief overview of international regulation.

US fintech regulation: a divided picture at the federal level

Fintechs to get bank charters

Addressing the views of the Department of Treasury, the CFPB, and the SEC on the regulation of the fintech industry in the US.

Fintech in the US: the state of the union is questionable

Two US credit unions outsource core processing to Symitar

An overview of the current fintech regulation in the US by the prudential regulators: the OCC, the FDIC, and the Federal Reserve.

SIX teams with DTCC to issue legal entity identifiers in Switzerland

Switzerland

SIX Securities Services, which runs the central securities depository (CSD) for Switzerland, is partnering with the Depository Trust & Clearing Corporation (DTCC) to offer legal entity identifiers (LEIs) for Swiss entities. According to SIX, LEIs were devised to provide insight into corporate entities with the aim of reducing cross-platform risk exposure. By providing LEIs together, […]

UK’s Financial Conduct Authority gets persistent on credit card debt

FCA keen to explore regtech

Credit card firms have come in for a kicking as the UK’s Financial Conduct Authority (FCA) has proposed new rules to help customers who are in persistent debt. This move follows the FCA’s study of the UK credit card market, which found “significant concerns” about the scale, extent and nature of problem credit card debt. […]

Don’t get miffed, get MiFID II authorisation

FCA keen to explore regtech

The UK’s Financial Conduct Authority (FCA) has published its near final rules on the Markets in Financial Instruments Directive (MiFID) II and encourages firms to submit applications for authorisation. These rules include changes to the trading of financial instruments – such as issues affecting trading venues, transparency of trading and algorithmic and high frequency trading. […]

UK’s Financial Conduct Authority selects Cognizant for tech revamp

FCA keen to explore regtech

The UK’s Financial Conduct Authority (FCA) has chosen Cognizant for an overhaul of its core IT applications and quality assurance processes related to the agency’s market surveillance, supervisory analysis, reporting and risk management functions. This three-year agreement builds on the FCA’s ongoing relationship with Cognizant which began in 2011, when it was selected as one […]

ClauseMatch right match for Barclays compliance

Barclays-PLC

Barclays has chosen smart document management provider ClauseMatch for handling policies and standards in one place with a new online editor. London-based ClauseMatch, a 2014 graduate of the inaugural Barclays accelerator programme, will provide its editor to the bank. This tool turns a “fragmented workflow” of Word documents, PDFs and e-mails and replaces them with […]

SIX picks IBM Watson for cybercrime fight

Switzerland

SIX Securities Services, Switzerland’s post-trade market infrastructure, will use IBM Watson for its new cognitive security operations centre (SOC). The new facility will be housed at SIX’s offices in Switzerland to provide localised cybersecurity services “tailored to the needs of the region”. Robert Bornträger, division CEO SIX global IT, says IBM is a “logical partner” […]

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