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Time for a global regulator
Chris Skinner
APRIL 3, 2019
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
Regulation Related Topics 
The regulator’s focus for 2020
Chris Skinner
JANUARY 7, 2020
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.
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Regulating the unregulated
Chris Skinner
NOVEMBER 3, 2017
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?
Slow regulations versus fast tech
Chris Skinner
SEPTEMBER 1, 2017
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.
Regulating the cryptocurrency markets
Chris Skinner
FEBRUARY 15, 2018
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
NOVEMBER 20, 2019
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
UK Regulators’ Data Violations Fines Top $126.5M
PYMNTS
JANUARY 20, 2020
Regulators in the U.K. The General Data Protection Regulation (GDPR) is intended to protect personal information and imposes steep fines if data is exposed or provided without user consent. The regulation is enforced by data protection divisions throughout the 28-member European Union.
Regulators Investigate China’s Ex-Securities Regulator
PYMNTS
MAY 19, 2019
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
JANUARY 7, 2019
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.
Regulators Support Alternatives To Assess Creditworthiness
PYMNTS
DECEMBER 4, 2019
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.
Is Big Tech good or bad for banking … the regulator’s view
Chris Skinner
JUNE 23, 2019
Fintech Future Grid Regulation
Lawmakers Push To Fast-Track Crypto Regulation
PYMNTS
JULY 7, 2019
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?
5 Startups Rebooting Regulation
Bank Innovation
APRIL 24, 2017
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.
The regulator’s view of bitcoin, 2017
Chris Skinner
SEPTEMBER 18, 2017
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
The regulator’s view of Facebook’s Libra currency
Chris Skinner
JULY 11, 2019
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.
Swedish Regulator Investigating SEB Over AML Issues
PYMNTS
DECEMBER 18, 2019
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.
The Move To Regulate IoT
PYMNTS
MARCH 22, 2019
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.
Turning Compliance Burden Into FinTech-Regulator Collaboration
PYMNTS
NOVEMBER 26, 2019
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.
European Regulators Expand Scrutiny On Data Practices – And Bots
PYMNTS
JANUARY 13, 2020
Regulation bots California CFPB Data Breaches Data Regulations data sharing Editors' Picks EU fraud GDPR india News regulation Regulators regulatory tracker Security Social MediaIt’s a new year, and in Europe, an expansion of scrutiny and laws governing data sharing.
Colombian Regulators Order Uber To Shut Down
PYMNTS
JANUARY 12, 2020
But the fact that the ruling caused the company to suspend services in the country shows that regulation has the power to seriously hamper companies as large as Uber. Uber will cease operating in Colombia at the end of the month, the company said in a statement.
CFPB Rolls Out Innovation Regulator Network
PYMNTS
SEPTEMBER 11, 2019
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. .
The Semantic Regulator (#RegTech Rules)
Chris Skinner
JANUARY 31, 2017
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.
State Regulators Investigate Payday Advances
PYMNTS
AUGUST 8, 2019
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.
UK Regulators Call For Backup Plans Following Bank IT Glitches
PYMNTS
DECEMBER 5, 2019
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.
Can Regulating Wearables Protect Data Privacy?
PYMNTS
APRIL 16, 2019
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.
UK To Launch Big Tech Regulator Post-Brexit
PYMNTS
DECEMBER 18, 2019
The United Kingdom will create a technology regulator next year after Brexit is completed, according to a report by the Financial Times. There is an emerging international consensus around the scope of new regulation.
Zuckerberg Advocates Internet Regulation
PYMNTS
MARCH 31, 2019
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
UK Regulator Says Stablecoins Are EMoney
PYMNTS
JULY 31, 2019
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.
Alphabet, Facebook Shares Soar Despite Regulator Scrutiny
PYMNTS
JANUARY 7, 2020
Investments Alphabet Antitrust Facebook Google Government investigations News regulation Shares stock prices What's HotGoogle parent company Alphabet and Facebook , despite a number of looming competition and antitrust investigations for both companies from U.S.
Regulators Taking Close Look At Payroll-Advance Apps
PYMNTS
SEPTEMBER 2, 2019
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.
Regulations, Innovations, Sandboxes and #RegTech
Chris Skinner
JUNE 2, 2016
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.
Bank regulations change every 12 minutes
Chris Skinner
JANUARY 30, 2017
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.
Trump Administration Presents New AI Regulations For Federal Agencies
PYMNTS
JANUARY 7, 2020
The Trump administration recently submitted new rules governing any future federal regulation of artificial intelligence (AI) used in an array of industries, according to reports , including transportation and medicine, among others.
Shanghai Regulators Move To Shutter P2P Lenders
PYMNTS
OCTOBER 31, 2019
Shanghai regulators are ordering more than 40 peer-to-peer (P2P) lenders to get ready to close shop, the Financial Times (FT) reported on Thursday (Oct. Some investors who lost money in the sector complained to regulators , and P2P lending started to be seen as a “threat to social stability.”.
In Switzerland, Regulators Eye Payments Over Blockchain
PYMNTS
AUGUST 27, 2019
Under the guidelines, which cover exchanges, trading platforms and wallet providers, the regulators state businesses are not exempt from standards that tie in anti-money laundering (AML) rules, among other mandates.
Libra Forces Cryptocurrency Regulators To Reexamine Procedures
PYMNTS
SEPTEMBER 12, 2019
Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. It’s possible that regulators could require verified wallets to be KYC- and AML-compliant.
Growing Ratings Data Overwhelms Regulators
PYMNTS
DECEMBER 19, 2018
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
EU Considers Tightening AI Regulations For ‘High-Risk’ Sectors
PYMNTS
JANUARY 17, 2020
Facial recognition is among the things the EU might look at regulating. Artificial Intelligence AI artificial intelligence china EU facial recognition News regulation Technology What's Hot white paper
Bank Regulators Probe Amazon Cloud
PYMNTS
AUGUST 2, 2019
Regulators’ influence over non-banks is limited, and banks are left to vet their own vendors. Bank regulations hadn’t “sufficiently modernized to accommodate cloud and other innovative technologies,” according to a U.S.
How do governments regulate a networked world?
Chris Skinner
OCTOBER 12, 2016
Seven billion people have access … The post How do governments regulate a networked world? Opinion Regulation Technology UncategorizedFollowing on from yesterday’s blog about Little Britain and a hard Brexit, we all know the world has been globalising and, even though there is currently a backlash against globalisation per se, it is unstoppable. It is unstoppable primarily because of technology. The whole planet is now on the network.
UK Regulator Looks To Expand Open Banking Beyond Banking
PYMNTS
DECEMBER 17, 2019
Bank Regulation Bg Tech data sharing FCA financial data News Open Banking Price Discrimination regulation shopping What's HotIn the U.K.,
US Considers AI Regulation For Foreign Countries
PYMNTS
NOVEMBER 21, 2018
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.
Regulators Say US Bank Cybersecurity Oversight Needs Streamlining
PYMNTS
JUNE 17, 2019
regulators are saying cyberattacks pose the greatest risk to U.S. banks in upcoming years, but the regulation and testing processes are convoluted and complicated for institutions in both spaces to assess, according to a report by the Financial Times.
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