EU Privacy Regulator Fines Amazon $887M

PYMNTS

It was issued two weeks ago by the Luxembourg National Commission for Data Protection (CNDP), which says the retail giant failed to comply with the European Union’s General Data Protection Regulation. Amazon fines GDPR international News regulations What's Hot

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

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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

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?

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? Obviously, you can only regulate it when … The post Regulating the unregulated appeared first on Chris Skinner's blog. Blockchain Crime Fintech Grid Opinion Regulation

Wirecard’s regulator faces criminal probe as scandal expands

Payments Source

Accounting regulations Wirecard Germany

China’s Security Regulators Permit US IPOs — With Caveats

PYMNTS

Following an online conference with investment bankers, China’s securities regulator decided that initial public offerings (IPOs) in the U.S. IPO china international Investments ipo News regulations stock market What's Hot

SEC Chair: Congress Should Regulate Crypto Exchanges

PYMNTS

Securities and Exchange Commission (SEC) Chairman Gary Gensler said he thinks the cryptocurrency market, now worth $2 trillion, needs more regulation, CoinDesk reported. Cryptocurrency cryptocurrency Editors' Picks News regulations SEC Securities and Exchange Commission What's Hot

US Lawmakers Urge Regulation Of Facial-Recognition Use

PYMNTS

If we’re talking about finding some kind of meaningful regulation and oversight of facial recognition, which is what I think the chair is alluding to, then I think we can find a lot of common ground here,” he said, according to Bloomberg.

US Regulators, Advisory Group To Look At Stablecoins

PYMNTS

Yellen has convened top financial markets advisors and regulators to discuss the potential — both good and bad — of stablecoins, her office announced. Cryptocurrency cryptocurrency janet yellen News regulations secretary of the treasury What's HotTreasury Secretary Janet L.

US Treasury’s Janet Yellen Presses For Stablecoin Regulations

PYMNTS

Treasury Secretary Janet Yellen told regulators it is critical that the government establishes and adopts a framework for digital currency stablecoins, Reuters reported on Tuesday (July 20). Despite the lack of regulations around the globe, ??El

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.

US To Implement Cybersecurity Regulations On Pipelines

PYMNTS

The impetus for the tighter regulations was the Colonial Pipeline cyberattack that occurred earlier this month. The goal of the Biden administration is to put “effective, enforceable regulation, not create a check-the-box exercise.”.

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.

UK Finance Regulations Could Determine Klarna's IPO

PYMNTS

With these types of regulations in place, Klarna and FinTechs like it could attract business from traditional credit cards. IPO international ipo Klarna News regulations stock market U.K. Will the Swedish buy now, pay later (BNPL) firm Klarna list itself on the London stock exchange?

EU Regulator Says Big Tech Antitrust Collaboration With US Possible

PYMNTS

should be wary of copying EU-style experimental regulation,” said Christian Borggreen , vice president and head of the Brussels office at the Computer and Communications Industry Association , which represents companies including Amazon , Facebook and Google , WSJ reported. “As

Chinese Regulators Mandate Removal Of 25 Other Didi Apps

PYMNTS

Chinese regulators, including the Cyberspace Administration of China, mandated that app stores in the country delete 25 apps relating to ride-hail platform Didi, including its financial services application and its carpool app, the Wall Street Journal reported on Friday (July 9).

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.

China Ramps Up Calls For Crypto Regulations; Bitcoin Plummets

PYMNTS

Chinese authorities ramped up their calls for increased regulations on cryptocurrencies on Friday (May 21), CNBC reported. is also ramping up its regulations on cryptocurrency. Cryptocurrency Bitcoin china cryptocurrency News regulations What's Hot

China Moves To Regulate Companies Listed On Foreign Exchanges

PYMNTS

China is moving forward in its push to further regulate companies whose shares are listed on foreign stock exchanges. In addition, the Chinese regulator started probes of two other U.S.-listed One problem with the Chinese setup has been a lack of coordination between regulators.

UK Regulators Targeting Diversity Improvements In Financial Services

PYMNTS

Recently, regulators pointed to diversity and inclusion in the space as a serious problem that needs to be addressed — and they offered a few ideas on how to fix it. Banking banking FCA financial inclusion News regulations What's Hot

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.

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.

Regulators Probe Market Amid Rising Meme Stocks

PYMNTS

Regulators are worried that investors could suffer steep losses if the stocks plunge, according to the report. Stock Index investigations Investments News regulations SEC Stocks What's HotMarket swings and the surging prices of meme stocks have caught the attention of the U.S.

Big Tech Compliance Tracker: EU Privacy Regulator Fines Amazon $887M; Musk Calls Apple's App Store Fees A 'Tax’

PYMNTS

EU Privacy Regulator Fines Amazon $887M. Another Chinese Regulator Cracks Competition Whip At Big Tech. Regulation Amazon Apple data protection Epic Games EU Facebook Fortnite GDPR Musk News regulation

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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.

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China's Securities Regulator Seeks To Reassure Banks Amid Turmoil

PYMNTS

The China Securities Regulatory Commission , China’s security regulator, attempted Wednesday (July 28) night to smooth over investment bank executives’ market fears about Beijing’s crackdown on private education, Bloomberg reported.

State regulator group issues standards for nonbank mortgage servicers

American Banker

Capital Servicing Liquidity State regulators

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.

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.

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.

Regulators Take Aim At Cryptos' ‘Wild West’ Environment

PYMNTS

The group would then make recommendations aimed at improving regulation of cryptos. The European Union has introduced legislation that would seek to regulate cryptos across the 27-member bloc, with a focus on combating money laundering and terrorist financing.

FTC Lowers Regulations On Antitrust Lawsuits

PYMNTS

ANTITRUST Antitrust FTC News regulations What's HotThe U.S. Federal Trade Commission (FTC) voted to rescind a 2015 policy statement that hampered its ability to file antitrust lawsuits, effectively lowering the bar for such actions.

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.

Regulators Seek Input On FIs’ Use Of AI

PYMNTS

High tech continues to make inroads in financial services, and now regulators want more insight — and input — into how technologies such as artificial intelligence (AI) can and are being used by enterprises.