Time for a global regulator

Chris Skinner

I was in conversation with a banker the other day and we got around to regulations and regulators, as many conversations with banks tend to do. Digital Bank Future Grid Opinion Regulation

Regulating the unregulated

Chris Skinner

I was thinking about this question of how to regulate global technology platforms that don’t recognise national boundaries, mainly in the context of crypto and digital currencies. How can you regulate a global currency that has no view of state or national laws?

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Slow regulations versus fast tech

Chris Skinner

Before 2010, I was writing a lot about technology but it was all heavily geared towards regulations. MiFID and PSD were top of mind, along with Basel III and other global, European and domestic regulations. I wrote a lot about regulations.

The regulator’s focus for 2020

Chris Skinner

Here’s where the regulator will focus in 2020: The Financial Stability Board (FSB) published its work programme for 2020. Future Grid Payments RegulationI was going to write stuff about this but The Financial Stability Board did it for me.

Regulating the cryptocurrency markets

Chris Skinner

I guess that this is logical as my last line was that government control of cryptocurrencies is “not so easy for cryptocurrencies that have … The post Regulating the cryptocurrency markets appeared first on Chris Skinner's blog. Blockchain Fintech Future Grid Innovation Opinion Payments RegulationSomeone made the comment on my platform piece about what happens when there are no Jack Ma’s or Mark Zuckerberg’s, as the whole thing is decentralised?

Regulators: damned if they do and damned if they don’t

Chris Skinner

I was running a fun panel on regulation this week. That kind of sounds like a lie – whatever can be fun about regulation – but hey, it was. I often reflect on the fact that regulators run with their eyes in the rear-view mirror. Grid Regulation

Regulators Investigate China’s Ex-Securities Regulator

PYMNTS

Liu Shiyu, the former head of China’s securities regulator, is being investigated for violating anti-corruption laws. Security & Fraud china Corruption imports investigation Liu Shiyu News P2P Regulator securities Securities Regulator security & fraud trade tariffs What's Hot

Ireland Crypto Regulation Looms

PYMNTS

In Ireland, reported CryptoGlobe , the Irish cabinet has approved legislation that will bring more regulation to the sector. Separately, in India, the action toward crypto regulation seems to be … inaction.

Is Big Tech good or bad for banking … the regulator’s view

Chris Skinner

Fintech Future Grid Regulation

5 Startups Rebooting Regulation

Bank Innovation

The rise of insurtech is running parallel to the rise of regtech, as financial firms and startups apply artificial intelligence, blockchain, and other technologies to the dizzying world of financial regulation. Fintech has another cousin.

Airbnb Supports EU Regulator For Digital Platforms

PYMNTS

29) that it supports plans to establish a digital regulator. The short-term home rental firm won an exemption from European property regulations in a ruling last month of the Court of Justice of the European Union (CJEU), Reuters reported.

Lawmakers Push To Fast-Track Crypto Regulation

PYMNTS

regulators and politicians increase their focus on big tech and associated areas, with recent hearings targeting Facebook and Google. Even so, “regulation remains a stumbling block to cryptocurrency’s wider adoption,” the report continued. Are new bitcoin rules coming?

Regulators Detail Banking Rules For Hemp Firms

PYMNTS

If banks have additional questions regarding the Agriculture Improvement Act of 2018 (2018 Farm Bill) and its regulations, they can contact the USDA, state departments of agriculture and tribal governments.

The Move To Regulate IoT

PYMNTS

With increased adoption, though, comes a need for improved regulations, and both the European Telecommunications Standards Institute (ETSI) and U.S. Congress have released rules to help regulate IoT data security.

The regulator’s view of bitcoin, 2017

Chris Skinner

As mentioned on Friday, they see … The post The regulator’s view of bitcoin, 2017 appeared first on Chris Skinner's blog. Blockchain Digital Bank Fintech Grid Innovation Opinion Regulation

Afterpay Pushes Back Against Fee Regulation

PYMNTS

Buy now, pay later (BNPL) company Afterpay has pushed back against the Reserve Bank of Australia’s potential regulation of its fees. Regulation Afterpay BNPL buy now pay later fees installment payments international News Payment Methods regulation Reserve Bank of Australia What's Hot

Big Tech Firms Ask For Regulation

PYMNTS

Big Tech companies like Apple and Facebook have lately had a contentious relationship with regulators and lawmakers over issues like privacy, use of personal data and perceived bias. At times, the firms have pushed back against the idea that they need to be regulated.

The regulator’s view of Facebook’s Libra currency

Chris Skinner

I’m avoiding calling it a cryptocurrency, as it’s more a stablecoin that is focused upon transactions, which is why it has Visa, … The post The regulator’s view of Facebook’s Libra currency appeared first on Chris Skinner's blog.

Regulators Support Alternatives To Assess Creditworthiness

PYMNTS

Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec. The regulators added that agencies choosing to tap into alternative data should do so judiciously.

CFPB Rolls Out Innovation Regulator Network

PYMNTS

A network to better coordinate financial innovation among federal and state regulators is being launched by the Consumer Financial Protection Bureau (CFPB) in partnership with several states, the agency said in a press release. State regulators in every state were invited to join. .

Can Regulating Wearables Protect Data Privacy?

PYMNTS

Another recently introduced piece of legislation aims to protect individuals by regulating facial-recognition cameras. In the feature story, Le discussed how device manufacturers can help foster that trust, and the need for regulation to secure healthcare data and connected devices.

The Semantic Regulator (#RegTech Rules)

Chris Skinner

A bigger question must also be: how can a regulatory check that a bank is compliant with their regulatory changes, if their regulations change every 12 minutes are run to 1,000’s of pages? The answer is they can’t, but they don’t … The post The Semantic Regulator (#RegTech Rules) appeared first on Chris Skinner's blog. Blockchain Fintech Grid Regulation Technology UncategorizedA bank has to make a regulatory change every 12 minutes. That’s some task.

Zuckerberg Advocates Internet Regulation

PYMNTS

Facebook CEO Mark Zuckerberg wrote an opinion piece in The Washington Post calling on regulators to take a “more active role” in making rules for how to police the internet, according to reports. “By Facebook content internet Legislation News Opinion Piece Policing Regulators rules Washington Post What's Hot zuckerberg

Deep Dive: How US Data Regulation Fragmentation Is Affecting Merchants, Consumers

PYMNTS

The necessity of such regulations is undeniable, however, as lagging data standards leave businesses and consumers open to fraud and boost frustration regarding the speed of digital transactions.

State Regulators Investigate Payday Advances

PYMNTS

The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state regulations of the short term lending industry, specifically in the area of payroll advances.

Turning Compliance Burden Into FinTech-Regulator Collaboration

PYMNTS

Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. For traditional banks, compliance experts agree that it’s all about data — and the ability to share information with regulators. Lithuania wants to become a global FinTech powerhouse.

Regulations, Innovations, Sandboxes and #RegTech

Chris Skinner

So I just attended a really interesting two day meeting that covered all things blockchain, regulations, innovation and more. The Regulatory Sandbox was announced at … The post Regulations, Innovations, Sandboxes and #RegTech appeared first on Chris Skinner's blog.

Swedish Regulator Investigating SEB Over AML Issues 

PYMNTS

A Swedish regulator has opened an investigation into SEB, one of Sweden’s largest banks, over an increasingly volatile money-laundering scandal that has adversely affected the reputation of the region’s banking industry, according to a report by the Financial Times.

UK Regulator Says Stablecoins Are EMoney

PYMNTS

Regulation B2B banking bitcoin cryptocurrency ether FCA News regulation Security stablecoins What's HotThe Financial Conduct Authority (FCA) has issued updated guidance on the U.K.’s s cryptocurrency market.

EU Regulator Loosens Requirements For Bank Mergers

PYMNTS

Europe’s main banking regulator, an arm of the ECB , is trying to make it easier for the continent’s financial lenders to merge. This is in sharp contrast to the regulator’s previously-held position, which was strongly against such mergers.

UK Regulators Call For Backup Plans Following Bank IT Glitches

PYMNTS

regulators on Thursday (Dec. The Bank of England , the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) published a shared policy summary on new requirements to strengthen operational resilience in the financial services sector.

Regulators Taking Close Look At Payroll-Advance Apps

PYMNTS

Regulators are taking a closer look at financial apps that allow workers to access their pay early. But regulators from New York and 10 other states aren’t convinced. As for the subpoena from regulators, Palaniappan explained “it’s a new model.

Bank regulations change every 12 minutes

Chris Skinner

In fact, what gets me is that regulations are the big ticket barrier to change in banking. It’s what protects the banks from disruption and change, as … The post Bank regulations change every 12 minutes appeared first on Chris Skinner's blog. Grid Regulation UncategorizedI recently spent a day in a meeting discussing Governance, Risk and Compliance (GRC) … yawn. Well, it is a bit of a dull area, but highly important.

Predatory ‘Rent-a-Bank’ Lending Practices Trigger Calls For Regulation

PYMNTS

Consumer advocates are pushing federal banking regulators to do something about rent-a-banks with notoriously sky-high loan rates that prey on people with bad credit, the Wall Street Journal (WSJ) reported on Wednesday (March 11). She is looking to state regulators put a stop to the practice.

Growing Ratings Data Overwhelms Regulators

PYMNTS

securities regulator is having trouble with rating agencies because it doesn’t have the tools or specific knowledge it needs to analyze huge amounts of rating data, according to a report from Reuters. Regulation compliance data News regulation Regulators SEC What's Hot