Tag: RegTech

August 22, 2023

Fintech startup Ramp has raised $300 million in a funding round co-led by existing backer Thrive Capital and new investor Sands Capital at a post-money valuation of $5.8 billion. The Information reported last week that spend management company Ramp was […]

August 18, 2023

In a proactive step, Innovate Finance has articulated its vision in response to HM Treasury’s recent call for strategies on refining and gauging the success of UK financial regulators’ new competitiveness objectives. This dialogue comes on the heels of the […]

July 28, 2023

The United States Senate passed the 2024 National Defense Authorization Act (NDAA) worth $886 billion on July 27. The bill includes a provision targeting crypto mixers, anonymity-enhancing coins and institutions engaging in crypto trading. The NDAA is a bill that […]

July 7, 2023

FIS has signed a definitive agreement with US-based private equity firm GTCR to sell a majority stake in its Worldpay merchant business. GTCR will acquire 55% of Worldpay, with FIS set to receive $11.7 billion in upfront net proceeds. FIS […]

May 5, 2023

Financial fraud within institutions is a growing concern, as 80% more banks have been fined for  money laundering, costing $10.4 billion. Regulatory technology (RegTech) has become a potential solution to minimize the threat of internal and external monetary fraud. These […]

March 30, 2023

On Mar. 27, the U.S. Commodity Futures Trading Commission (CFTC) charged Binance and its founder Changpeng Zhao with alleged willful evasion of federal law and operating an illegal digital assets exchange. In the 74 page complaint, the CFTC claimed that […]

March 27, 2023

Haru Invest, a leading digital asset management platform, today announced that Haru EU Limited UAB, its EU incorporated subsidiary, has become an authorized Virtual Asset Service Provider (VASP) for its EU operation based in Lithuania. As a VASP authorized business, […]

February 23, 2023

When registering with the CSA, it says crypto exchanges must have enhanced protections for the custody and segregation of crypto assets for Canadian clients and a prohibition on offering margin, credit or other forms of leverage. Platforms are also prohibited […]

February 20, 2023

The Telegraph reports that the company’s Lithuanian subsidiary PayRNet is being investigated by the country’s central bank. PayRNet secured an electronic money institution licence from the Bank of Lithuania in 2020. In a statement, the Bank of Lithuania says: “There […]

February 20, 2023

Hong Kong’s Securities and Futures Commission (SFC) calls for public feedback on its newly proposed licensing regime for cryptocurrency exchanges set to take effect from June 2023. A key consideration of the public consultation window is whether to allow licensed […]

February 17, 2023

Mueller, who has spent more than 20 years combating financial crime at financial institutions including UBS, American Express and Commerzbank, joins from Rabobank North America where he served as AML and sanctions officer for more than six years. Founded in […]

February 16, 2023

‘An Alternative Financing and Investment Platform’ The Oman financial markets regulator, the Oman Capital Market Authority, has said it plans to establish a virtual assets framework to “regulate and develop the market in the Sultanate of Oman.” According to the […]

February 8, 2023

The CEO and co-founder of cryptocurrency exchange Coinbase, Brian Armstrong, believes that banning retail crypto staking in the United States would be a “terrible” move by the country’s regulators. Armstrong made the comments in a Feb. 9 Twitter thread which […]

February 7, 2023

Protecting Korean Security Token Investors The South Korean financial markets regulator, the Financial Services Commission (FSC), has okayed the issuance and distribution of security tokens, a report has said. According to the report, Korean investors are expected to begin trading […]

February 6, 2023

The bank will deploy Tookitaki’s Anti-Money Laundering Suite (AMLS), which the regtech firm says provides risk coverage, sharper detection, and significantly fewer false alerts than legacy financial crime detection systems, allowing BONI to achieve “new levels of accuracy and speed”. […]

February 6, 2023

The UK’s financial regulatory body has appointed seven advisors to a new Innovation Advisory Group (IAG) which will meet for the first time this month. The IAG will also alert the FCA on key issues in financial technology and regulation […]

January 27, 2023

Former fintech darling Wirecard imploded in 2020, filing for insolvency after disclosing a €1.9 billion hole in its accounts. Its collapse came after EY, its auditor for more than a decade, refused to sign off its 2019 accounts, forcing out […]

January 27, 2023

The round was led by Washington DC-based Sands Capital and saw participation from new and existing investors including DN Capital, Coalition, BlackFin Capital Partners and Picus Capital. Hawk AI CEO and co-founder Tobias Schweiger says: “Hawk AI’s growth will continue […]

January 26, 2023

EU Legislators Approve Draft Law Implementing the Basel III Capital Regulations for Banks Members of the European Parliament’s Committee on Economic and Monetary Affairs (ECON) supported a bill on Tuesday designed to enforce the latest global bank capital rules. Reuters […]

January 23, 2023

Multinational banking group HSBC has received an official warning from UK’s Competition and Markets Authority (CMA) regarding failures in providing the correct information about the Open Banking processes. According to the UK’s Competition and Markets Authority (CMA), the bank published […]