House Republicans have raised concerns over what they see as excessive regulatory scrutiny on partnerships between banks and financial technology (FinTech) companies. These lawmakers, all members of the House Financial Services Committee, have addressed a letter to the Federal Reserve Board, the
Investment firms are facing increasing regulatory scrutiny to ensure they deliver Best Execution for their clients. Originating from the European Securities and Markets Authority (ESMA) under the MiFID I regulations in 2007 and expanded upon by MiFID II, Best Execution mandates firms to achieve the
Toronto-Dominion Bank (TD Bank), one of North America's largest banking institutions, is facing unprecedented penalties due to significant lapses in its Anti-Money Laundering (AML) compliance program. The staggering $3.09 billion fine is being described as the largest ever imposed under the US Bank
The US fintech sector is a paradox of advanced innovation juxtaposed with stubborn traditionalism. It’s a place where some of the world's most cutting-edge financial technologies emerge, yet simple technologies like contactless payments aren’t universally accepted. This dynamic landscape was
The financial industry is contending with an ever-increasing array of regulatory requirements. The advent of machine-readable (MRR) and machine-executable regulation (MER) technologies promises to streamline compliance processes, increase accuracy, and reduce costs. However, the journey toward
Africa's Fintech Surge: Overcoming Regulatory Hurdles to Thrive Africa's fintech industry stands on the precipice of a revolutionary transformation, poised to potentially generate around $230 billion in financial sector revenue by 2025. This optimistic projection, outlined in a McKinsey report,
