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Biden advances digital asset regulation

Payments Dive

The Biden administration wants the Securities and Exchange Commission and the Commodity Futures Trading Commission to “aggressively pursue investigations and enforcement actions against unlawful practices in the digital assets space

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Security Tokens: don’t fight the regulator if you want to be regulated

Daily Fintech

The idea of Security Tokens was to combine all the efficiency and low cost of ICOs with legal and regulated offerings. The reality is that not much is really happening currently in Security Tokens – as our News Quality Assessment (NQA) data shows.

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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.

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How Nearshore Software Development Can Still Work in Highly Regulated Industries

Perficient

However, companies within certain industries may be more hesitant to incorporate a nearshore delivery model into their software development projects due to federal regulations around information and data security. based companies in a variety of regulated industries.

Industry 406
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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. At issue is a security flaw that Twitter claimed to have corrected in 2019.

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Regulators Say Crypto Asset Holders Subject To Securities Laws

PYMNTS

financial regulators have warned firms with registered digital assets that they must follow securities laws to prevent money laundering, as well as report any suspicious activity. Securities and Exchange Commission, Commodity Futures Trading Commission and the Financial Crimes Enforcement Network issued the notice in order to clarify firms’ obligations under anti-money laundering, bank secrecy and counter terrorist-financing laws when it comes to digital assets.

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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.

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Quantum computing poses an existential threat to banks' security

American Banker

Cyber security Regulation and compliance

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Securing a Resilient Financial Services Enterprise

Cisco CSR

The functioning of global economies is partially reliant on a secure and protected financial services infrastructure. It is the reason why financial services is one of the most highly regulated and highly fortified industries. The Cisco Secure portfolio.

Security 114
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The Move To Regulate IoT

PYMNTS

Matsei Technologies & Consulting and enterprise application solutions provider IFS have teamed up on one such digital farming option, hoping to encourage better food security in countries like South Africa. 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.

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Crypto firms shouldn't fear being regulated as securities

Payments Source

Securities laws, in spite of their shortcomings, exist for very good reasons: To regulate the fair exchange of units of ownership, to protect individuals from fraud or exploitation, and to identify bad actors and hold them accountable. Risk Digital payments Fintech regulations Cryptocurrencies Securities

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Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Perficient

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Applications include analysis of regulations, news flow, earnings reports, consumer complaints, analyst ratings changes, and legal documents.

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Whose eyeing your wallet? Blind regulators

Daily Fintech

Oddity, a D2C makeup company, is offering a security token […]. 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.

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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

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Merchants Get Clarity Around Compliance As Global Payment Regulations Evolve

PYMNTS

Compliance with financial regulations market-to-market around the globe is increasingly automated yet relies on the same human emotion that undergirds all forms of exchange: trust. Bank Regulation Ekata News Open Banking payments PYMNTS Study regulations Security

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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. On March 21, retailers doing business in New York State will be faced with a new law regarding data security.

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Three basic security practices banks need to implement now

American Banker

Cyber security Regulation and compliance

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Can Regulating Wearables Protect Data Privacy?

PYMNTS

In the April Intelligence of Things Tracker , PYMNTS explores the latest security efforts from providers to crack down on fraud, and the emerging use cases where IoT tech can be applied — if consumers are willing to give it a chance. Recently, some developers in the IoT space have been exploring the use of blockchain technology to secure connected devices, and bring transparency to transactions and data collection.

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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.

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Prosecutors Target Loosely-Regulated Business Lending Sector

PYMNTS

Merchant cash advance companies avoid much of the regulation banks face by claiming that rather than giving loans to businesses, they’re paying the business cash now in return for a cut of future revenue. Security & Fraud FTC loans News SEC small business What's Hot

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Chinese Regulators Take Over Nine FIs

PYMNTS

Chinese regulators have seized control of nine financial institutions (FIs) alleging they violated rules and jeopardized the country’s financial system. Only through a regulator takeover can the problems be forcibly dealt with through administrative measures.”.

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UK Regulator Says Stablecoins Are EMoney

PYMNTS

The Block reported that the comprehensive overview is expected to follow FCA’s draft proposals released at the beginning of the year, which explained that “any token that is not a security token, or an eMoney token is unregulated.” And Matthew Pollard, chief financial officer of Archax, an upcoming trading platform for security tokens, said that “the FCA continues to cautiously tackle digital assets. The Financial Conduct Authority (FCA) has issued updated guidance on the U.K.’s

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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. billion unregistered securities offering.

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Proposed new cyber security regulations will be a huge undertaking for financial institutions

Celent Banking

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. Yesterday (Tuesday, November 10), the authorities charged three men with what they call “pump and dump” manipulation of publicly traded stock, mining of nonpublic corporate information, money laundering, wire fraud, identity theft and securities fraud.

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Brussels To Investigate German Regulator Over Wirecard

PYMNTS

We will be asking ESMA (European Securities and Markets Authority) to investigate whether there have been supervisory failures and, if so, to set out a possible course of action,” Dombrovskis told the FT. “We The Wirecard scandal surrounding the German payment processor missing $1.2

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UK Regulators’ Data Violations Fines Top $126.5M 

PYMNTS

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.

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Regulation, Data Management Top Industry Concerns

Bank Innovation

Professionals in the financial services industry are focusing their energy on regulation and data management, according to a survey from consulting firm and technology services provider Synechron. Financial regulation remains the top concern for the new year among those in the financial industry, with 38% of the firms surveyed marking Read More.

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Tighten up your community bank’s security

Independent Banker

ICBA’s Bank Security Institute offers critical incident response strategies to keep your physical branch location safe. However, it’s important not to let your community bank’s physical security protocols lapse. In August, ICBA hosted the Bank Security Institute.

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The Crypto Brat Pack Just Earned Themselves Regulation

Gonzobanker

Well, Gonzobankers, the smart, idealist and self-declared revolutionary crypto kids just bought themselves a future of regulation — intricate, overbearing, and frustrating regulation, and regulation that the market will now demand.

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EU To Examine German Regulators’ Oversight Of Wirecard

PYMNTS

The European Securities and Markets Authority (ESMA), the European Union’s (EU) financial watchdog, plans to examine how German regulators handled oversight of Wirecard AG , the collapsed payments company that is facing a series of criminal allegations.

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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.

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Chinese Regulators Prepare To Crack Down On Luckin Coffee

PYMNTS

Regulators in China are preparing to move against once-hot Luckin Coffee Inc. Securities and Exchange Commission (SEC) is investigating Luckin, which is domiciled in the Cayman Islands.

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MetLife Charged With Misleading Investors By Mass. Securities Regulator

PYMNTS

MetLife was charged with making false statements to investors on Monday (June 25) by the securities regulator in Massachusetts. After an investigation, the state regulator lodged the charges against the company after MetLife said in December it didn’t make payments to retirees. The Massachusetts regulator wants MetLife to find all of the eligible retirees and to give them retroactive payments as well as to continue to make the payments.

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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. Securities and Exchange Commission (SEC) may have its own set of regulations forthcoming in 2019, where those regulations can serve as a de facto template for crypto adoption in other nations moving forward.

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NYDFS Announces Draft Amendments to Cybersecurity Regulation

CFPB Monitor

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Cyber Security Regulations. Cybersecurity NYDFS Regulatory and Enforcement State regulation cybersecurity new york department financial services