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As GDPR Entrenches, Some Regulators Seek Exemptions

PYMNTS

The regulatory bodies span the EU’s European Securities and Markets Authority (ESMA), the Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), the Ontario Securities Commission (OSC), the Japan Financial Services Agency (FSA) and Britain’s Financial Conduct Authority (FCA).

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From CEO to Deputy Mayor, Xendpay’s Rajesh Agrawal Heads to City Hall

Fintech Labs Insights

The new mayor of London isn’t just pro-business. To help his city manage the financial ramifications of the vote this week in the UK to leave the European Union, London’s new major Sadiq Khan has appointed Xendpay founder and CEO Rajesh Agrawal as deputy mayor. He’s pro-fintech, as well.

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A Patrick Drahi takeover of BT would be an unhelpful distraction

TheGuardian

For the first time in years, BT, if it runs its business well, looks set up to satisfy the demands of all its main constituencies. Does this mean Patrick Drahi of Altice, now with 18% of BT in his back pocket, can forget any idea of buying the company outright? Let’s hope so.

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Javid and Osborne ‘lobbied to reduce mis-selling payouts to small business’

TheGuardian

Independent review finds City regulator changed compensation rules after pressure from UK banks Sajid Javid and George Osborne put pressure on the City’s financial regulator to reduce compensation payouts from big banks to small business victims of a mis-selling scandal, an independent review has found. Continue reading.

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BBVA Acquires Holvi for Undisclosed Sum

Fintech Labs Insights

Paavola, Chief Development Officer and GM of new digital business for BBVA, also praised the way Holvi leveraged technology “to bring a new approach to small business banking, where services essential to a business’ future such as invoicing are built into their core offer.”

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Banks line up to reassure investors as season of turbulence subsides

TheGuardian

First-quarter results for the UK’s big four will vary by exposure to volatile markets, but the boost from high interest rates won’t last UK banking bosses are preparing for a grilling this week as investors and analysts assess the fallout from the most turbulent period for the banking sector since the 2008 financial crisis.

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Crypto Regulations Move Into The Spotlight

PYMNTS

Maxine Waters of California, who is head of the House Financial Services Committee. Recommendations from that nation’s Financial Action Task Force governing the electronic money institutions have may be on offer, and would require those firms to be licensed by the government. The chorus was led by Democrat Rep.