ComplianceRSS

Plaintiff appeals UK Competition Appeal Tribunal decision in £14bn suit

Mastercard

Former financial ombudsman Walter Merricks is appealing the UK’s Competition Appeal Tribunal’s decision not to certify his claim in a proposed £14 billion ($18.2 billion) class action lawsuit against Mastercard over interchange.

UK has a go at new data protection laws and it’s not a bad effort

Is there fintech life outside London? Yes, there is. And it is vibrant!

The UK has unveiled details for its new Data Protection Bill, and while it is largely in line with European Union rules, there is also some substance to it (for once).

New state-controlled clearing house to process all payment providers’ transactions in China

china-square-flag

Ant Financial, Tencent and 42 other payments and financial services firms in China have agreed to route their payments transactions through a new clearing house, controlled by Chinese government.

Regtech Supplier Performance Report: ignorance is no longer bliss, it’s now criminal offence

Regtech Supplier Performance 2017 Report

The second edition of Regtech Supplier Performance Report, featuring some 50 regtech suppliers, published by Market Fintech Limited and supported by Banking Technology, says that with over 50,000 regulatory documents published across the G20 since 2009, and an average of 45 new documents every week, we must assume that the future of banking will be driven by technological developments.

NBPCA requests more changes and time to comply with CFPB’s prepaid accounts rule

OCC

US-based Network Branded Prepaid Card Association (NBPCA) submitted its comment letter to the Consumer Financial Protection Bureau’s (CFPB) on the bureau’s proposed changes to the final prepaid accounts rule. The trade group is calling for additional revisions to the rule as well as an extended implementation period.

Time to act: EU Funds Transfer Regulation 2015

Christian Westerhaus, Deutsche Bank

The EU Funds Transfer Regulation 2015 (FTR 2015), which has been in effect since 26 June 2017, aims to deliver full traceability of payments. A lack of regulatory clarity is, however, leading to significant implementation hurdles that require urgent action from all stakeholders.

Brief: How to accelerate compliance reporting with data wrangling

Trifacta

Join the world’s largest banks and cut compliance reporting budgets up to 60%. In this brief, Trifacta takes a closer look at how financial services companies are leveraging data wrangling to accelerate their regulatory reporting.

Payments: Australia gives Swift instant results

Australia and Europe flag

Off the back of its involvement in Australia’s New Payments Platform (NPP), Swift has entered the instant payments market in Europe, with plans to launch a gateway solution in November 2018. The solution will enable instant payments to be made over the Swift network using a single gateway to connect to multiple instant payments systems across Europe.

BNG Bank in regtech project with BearingPoint

BNG Bank goes Mondrian (and implements new regtech)

BNG Bank, a public sector bank in the Netherlands, is implementing BearingPoint’s Abacus regtech solution for MiFID II/MiFIR, EMIR II, MMSR and SFTR reporting.

Deutsche Börse readies for MiFID II with Risk Focus regtech

Deutsche-Boerse_logo

The Regulatory Reporting Hub of Deutsche Börse has launched a partnership with Risk Focus and its software subsidiary, RegTek.Solutions, to use its key system components for the hub’s OTC trade reporting solution. The functionality of the components provided by Risk Focus and RegTek.Solutions includes the Validate.Trade product, and interpretation of instrument details of OTC derivatives […]

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