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

Can Regulating Wearables Protect Data Privacy?

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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 Move To Regulate IoT

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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.

Zuckerberg Advocates Internet Regulation

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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

Ireland Crypto Regulation Looms

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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.

Crypto Regulations Move Into The Spotlight

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In one example, as noted by CoinDesk, Pakistan is mandating regulations for the crypto space. There has not been any significant progress in the Supreme Court case which makes it difficult to predict when we will see the regulation.” Regulation coindelta cryptocurrency Editors' Picks News PayDay lending QuadrigaCX regulation wells fargoYou’d be forgiven for thinking the regulatory ripple effect was all about Wells Fargo.

People’s Bank Of China To Regulate FinTech

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The People’s Bank of China (PBOC) announced that it is planning to steadily develop a system of rules to regulate financial technology (FinTech) in the country. I would predict in 2019, the government will regulate more.

Growing Ratings Data Overwhelms Regulators

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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

Australia To Invest $390M In Financial Regulation

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Australia is including an additional $390 million in its new budget to boost its financial regulation sector, according to Reuters. B2B Payments Australia B2B budget financial regulation funding News Royal Commission What's Hot What's Hot In B2B

FinTechs Press States To Streamline Regulations

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As regulators overseeing non-banks, our goals are clear: Ensure the safety and soundness of the financial system, protect consumers and streamline the multistate experience,” said Mark Quandahl, chairman of the CSBS Emerging Payments & Innovation Task Force, in a statement.

Big Tech Increasingly In Regulators’ Spotlight — And Crosshairs

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It’s been a whirlwind few weeks — OK, make that months — for big tech firms as regulators look ever more closely at business tactics. Regulation Amazon Big Tech European Union Facebook Google News regulation

Google Fined $57M By French Regulator In Largest GDPR Action

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21) by a French regulator, in what the Wall Street Journal reported is the largest penalty under the new European General Data Protection Regulation (GDPR) privacy law. It’s also one of the highest-profile regulator actions coming from GDPR which went into effect last year.

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US Considers AI Regulation For Foreign Countries

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government is looking to find a way to regulate artificial intelligence (AI) so other countries can’t use the technology against it. Regulation AI artificial intelligence china News regulations trump administration What's HotA new proposal shows that the U.S.

UK Regulator Tackles Authorized Push Payment Fraud

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s Payment Systems Regulator (PSR) found that 100 scams hit businesses or consumers every day. Regulation consumer protection fraud News Push Payments regulation Regulator scams What's HotIn an effort to help authorized push payment (APP) fraud victims, The U.K.’s

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?

Tim Cook: Tech Regulations Are ‘Inevitable’

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Apple ’s CEO believes that new regulations for the tech industry are “inevitable.”. According to the Financial Times , Tim Cook said in an interview that “the free market is not working” and that the tech industry should embrace regulation.

As Biometrics Advances, Laws And Regulations Try To Catch Up

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But the laws and regulations governing biometrics have yet to catch up to the reality of their use, and that’s perhaps most apparent when it comes to two recent, high-profile cases in Illinois. Legal biometrics Editors' Picks Illinois laws Lawsuits News privacy regulations Security

Federal Reserve Eases Some Regulations On Financial Institutions

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The regulator not only voted against activating a key buffer that would protect banks against financial risks, but removed one part of its stress-testing regime that measured domestic banks’ ability to face financial crises.

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.

CFTC Ups Crypto Regulation In 2018

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According to The Wall Street Journal , the federal derivatives-market regulator also handed out around $900 million in penalties, higher than the amount in five of the eight years of the Obama administration.

P2P Chinese Lender Dianrong Seeks $100M Amid Regulations

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Investments alt lending Dianrong funding fundraising News P2P lending regulations Venture Capital What's Hot

Amid AML Efforts, Regulators Focus On FinTech

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In China, China’s banking and insurance regulator, as reported by Reuters, wants banks to meet credit demand from private firms “to the greatest possible extent.” Regulation AML china FDIC FinTech News OC&C real estate appraisals regulatory tracker

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.

US Reps Call For Crypto Regulation Research

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Virtual Currency Market and Regulatory Competitiveness Act of 2018, seeks to have regulators research regulations for digital currencies that currently exist in other places around the world. To help further use of digital currency and head off price manipulation, two U.S.

Correspondent Banking Continues Its Decline Despite Regulator Efforts

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But the checks by banks help to quell these kinds of violations, so the situation has caused frustration for regulators. International AML financial regulation global banking international International Banking money laundering money transfers News remittances SBank Regulation What's Hot

Pan European Regulator: Key Weapon In Money Laundering War?

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As has been reported, the company has faced concerns over suspected money laundering, as noted in the Financial Times and elsewhere, and has been scrutinized by regulators including the Financial Conduct Authority (FCA) and in Lithuania (Revolut has a banking license in that country).

Facebook Looks To Government For More Regulation

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The big tech landscape is one that continues to be populated by regulators, by disparate voices calling for more oversight, more laws, more mandates spelling out what is private and what is not. CEO Mark Zuckerberg said in blog posts and an op-ed in The Washington Post this past weekend that there should be heavier regulations on his industry (on the internet in general) and that, with a nod to the GDPR (General Data Protection Regulation), a common framework is to be desired.

Fed Aims To Regulate Banks Based On Size

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The Federal Reserve wants to change some of its regulations so that smaller banks don’t have to handle the same scrutiny and paperwork as bigger institutions. “I Regulation bank regulation community banks federal reserve job growth News risk What's Hot

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?

US Regulators Set Sights On Swedbank As Offices Are Raided

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regulators in the wake of money laundering scandals, reported the Financial Times. regulators are looking into Swedbank’s actions. Swedbank is the subject of an inquiry by U.S.

EU Antitrust Chief Favors Data Regulation Over Dismantling Tech Cos

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European Union Competition Commissioner Margrethe Vestager said that breaking up big tech companies like Facebook and Google should be seen as a last resort, and that the better idea might be to find a way to regulate data usage.

Regulations Hinder Growth Of Digital Payments In Vietnam

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Vietnam wants to be a cashless society, according to a report in Financial Times , but bank regulations are hindering the country’s ability to do so. The Vietnamese don’t like the regulation, which is dissuading the adoption and spread of cashless payments in the country.

Market Regulator In Germany Files Complaint Alleging Wirecard Short Sale

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A German markets regulator has filed a complaint with prosecutors alleging that shares of Wirecard were manipulated by someone who potentially had prior knowledge of a forthcoming damaging article written by the Financial Times , according to Reuters. .

NY Regulators Investigate Whether Earnin Is Covertly Offering Payday Loans

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Silicon Valley-based financial services startup Earnin has potentially run afoul of New York State regulators with its payday advance product for consumers. Regulation consumer finance earnin loans News payday loans regulation

Facebook Says It’s Open To New Regulation

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Facebook , which has been under fire for months over data scandals, expressed openness to new regulation. According to a report in Reuters citing Facebook’s public policy manager Karim Palant, the executive said the social media giant is “open to meaningful regulation.”

Microsoft CEO Calls For Facial Recognition Tech Regulation

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With concerns mounting over the use of facial recognition technology to monitor people and intrude on privacy, Microsoft Chief Executive Satya Nadella said he supports regulation of the technology. The Microsoft CEO cautioned that regulation has to help and not hinder the marketplace.

German Regulator Gives Nod To Deutsche Bank/Commerzbank Merger

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A potential tie-up between German banks Deutsche Bank and Commerzbank should get the nod of regulators in Germany. The Wall Street Journal , citing a senior German regulator, reported the government is prepared to support a merger of the two to create one banking giant.

U.S. Regulators Eye ‘Record’ Facebook Fine For Privacy Violations

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Regulators in the United States have reportedly met to discuss levying fines against social media giant Facebook , a punishment that could be sizable in scope and which comes in the wake of privacy violations.

Facebook Could Face Coordinated Regulation By Nine Countries

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Facebook could face coordinated regulation by nine countries after chief executive Mark Zuckerberg refused to be questioned by an international committee on fake news. Facebook international News regulation security & fraud What's Hot

Facebook, Google May See Increased Regulation In Australia

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According to a report in CNBC , citing the report published by the ACCC, the government watchdog listed a series of remedies, which include creating a government agency that would be tasked with regulating how the likes of Facebook and Google publish news on their platforms.

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Regulator: Nordic Banks Embroiled In AML Scandals Should Stay

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AML Banks Financial Supervisory Authority Finland News nordic Regulator scandal What's Hot

Japan, Australia Back X-Border eCommerce Data Regulation

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This doesn’t mean, however, that the nation couldn’t join the call for more cohesive regulation. Regulation Australia china cross-border data Davos ecommerce Japan News regulation splinternet What's Hot World Trade Organization

India’s RBI Wants Its Governor To Lead Payments Regulator

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Following the proposal of a payments regulator to be established independent of the Reserve Bank of India (RBI), the central bank has put forward a public objection. The regulator would have a chairperson chosen with input from the RBI, but the central bank objects to having the regulator outside of its control and not led by its governor, Reuters reported. International bank regulations india News payments regulator RBI Reserve Bank Of India What's Hot