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. I guess it falls into three categories: the way regulations used to be; the way … The post Time for a global regulator appeared first on Chris Skinner's blog. Digital Bank Future Grid Opinion Regulation

BaaS works, it’s the regulations that don’t

Chris Skinner

This means this is not the end … The post BaaS works, it’s the regulations that don’t appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid Opinion Regulation

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Yellen urges stricter stablecoin regulation amid TerraUSD crash

Payments Dive

The coin, which relies on an algorithm rather than being backed by dollar reserves, plummeted to 23 cents Wednesday, according to CoinDesk

Congressional bill aims to regulate crypto

Payments Dive

A bipartisan Senate proposal introduced Tuesday tackles regulatory requirements for stablecoin issuers, taxes on crypto transactions and agency oversight. It’s not the only effort to create a regulatory framework

European Central Banks Demand Strict Cryptocurrency Regulations

PYMNTS

Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported.

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?

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 post Slow regulations versus fast tech appeared first on Chris Skinner's blog. Digital Bank Fintech Grid Innovation Regulation Technology Uncategorized

Visa urges cautious approach to BNPL regulations

Payments Dive

"The CFPB should tailor its approaches to preserve consumers’ and merchants' ability to access a wide variety of installment options and maintain competition among BNPL solutions," Visa said in commenting to the Consumer Financial Protection Bureau

Whose eyeing your wallet? Blind regulators

Daily Fintech

Blind regulators appeared first on Daily Fintech. Default/Ignore Crypto EU mobile wallet regulationScanning this week’s news there were a few stories that caught my eye.

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. Changing the face of regulation for a fresher, more transparent take isn’t exactly easy–as the OCC is finding out–but we […]. Fintech has another cousin.

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.

Wirecard’s regulator faces criminal probe as scandal expands

Payments Source

Accounting regulations Wirecard Germany

China Drafts Updates To Commercial Bank Regulations

PYMNTS

International banking china international lenders Lending News people's bank of china regulations What's Hot

EU Privacy Regulators Disagree On Twitter Fine

PYMNTS

The Wall Street Journal reported that the disagreement was disclosed by Ireland’s Data Protection Commission, one of the EU’s privacy regulators. The Irish regulator did not say which entities objected to its proposed decision, or on what grounds.

U.K. Treasury Increasing Cryptocurrency Ad Regulations

PYMNTS

18) that it plans to regulate cryptocurrency advertising like other financial products and ensure that promotions are “fair, clear and not misleading,” according to a Bloomberg report. The U.K. Treasury said Tuesday (Jan.

Big Tech Faces Regulation Reckoning As 2021 Dawns

PYMNTS

Alibaba billionaire Jack Ma reportedly told regulators at a meeting: "You can take any of the platforms Ant has, as long as the country needs it.”. Regulation Antitrust Big Tech cma Facebook Featured News FTC Google Lawsuits News

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.

NJ Legislators Propose Tighter Data Privacy Regulations

PYMNTS

The California Consumer Privacy Act went into effect in January, and the European Union’s General Data Protection Regulation ( GDPR ) went into effect in 2018. Retailers of all sizes will be forced to prepare for new, stricter regulations.

NJ 209

Digital regulators are a new norm in financial services

Accenture

But they are also forcing central banks and regulators to rethink and restructure their approaches to becoming resilient, adopting new technologies, leveraging data and constructing an agile operating model, all while providing regulatory services.

Regulators eye big data impact on ratemaking

Daily Fintech

The post Regulators eye big data impact on ratemaking appeared first on Daily Fintech. InsurTech #bigdata #predictivemodels #ratemaking #regulatorIn insurance, big data connotes unstructured and structured data that influences underwriting, rating, and pricing.

Bank regulators need to overhaul their digital capacity

American Banker

Regulation and compliance Cryptocurrencies

5 Best Practices for Adhering to UDAAP Regulations

SWBC's LenderHub

Regulations & ComplianceAre you 100% sure that your employees have the necessary compliance and regulatory training in order to mitigate the risk of fines and to protect your financial institution and its borrowers?

Yellen to call for ‘comprehensive’ crypto regulations

American Banker

Regulation and compliance Cryptocurrencies

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.

Can regulators keep pace with fintech innovation?

American Banker

Regulation and compliance

How do governments regulate a networked world?

Chris Skinner

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.

Massachusetts Regulators To Crack Down On Robinhood

PYMNTS

Robinhood has come under the watchful eye of regulators — this time in Massachusetts. State regulators are set to file a complaint on Wednesday (Dec. 16) saying that the stock-trading platform failed to protect its customers and their assets, violating state laws and regulations.

States are well equipped to regulate fintechs

Payments Source

But states are already working together to streamline regulation while continuing to enforce consumer protections and encourage innovation. Fintech CSBS OCC State regulators Fintech regulations

Report: As Crypto Becomes More Popular, Regulation Will Increase

PYMNTS

But in doing so, it will now face more scrutiny from regulators, Bloomberg reported. Regulation will be more of an issue for crypto companies the bigger and more ubiquitous they become, Bloomberg reported. Cryptocurrency Bitcoin cryptocurrency News regulations What's Hot

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 RegulationAs part of the blockchain conference, I chaired a session with some central bankers talking about their views on distributed ledger technologies. These central banks have run trials and are thinking about it, but none of them are particularly big on blockchain right now.

Did bank regulators just get a green light for climate stress tests?

American Banker

ESG Regulation and compliance

Regulate buy now/pay later. Now.

American Banker

Financial regulations Fintech

Russia to Regulate Cryptocurrencies in 2017

Bank Innovation

Russia will start regulating cryptocurrency trading by the end of the year, according to the country’s Finance Minister. It is possible to regulate them, so the […]. Cryptocurrency Bitcoin Bitcoin regulation cryptocurrencies RussiaAt the Moscow Financial Forum on Friday, Russian Finance Minister Anton Siluanov said: The state certainly understands that cryptocurrencies are a reality, there is no point in prohibiting them.

Regulators Line Up For Trade Finance Modernization

PYMNTS

Trade finance players, including corporates, banks and regulators, are finally ready to embrace modernization and technology. As a highly regulated area of financial services, trade finance has struggled to enter the digital age.

Appraisers facing stricter oversight from financial regulators

American Banker

Mortgages Regulation and compliance Politics and policy