Month: October 2018

Cryptoasset Taskforce publishes report on UK approach to cryptoassets

The Financial Conduct Authority (FCA) has today, as part of a Treasury (HMT) led Cryptoasset Taskforce published a report on the UK’s policy and regulatory approach to cryptoassets. The Taskforce Report  has considered the policy and regulatory implications of distributed ledger technology (DLT), and cryptoassets, and at a high level set out some of the opportunities …

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RegTech Regulatory Reporting or What we’ve learned from the FCA DRR paper

Data or rather the quality of data is often at the centre of any problem RegTech tries to solve. The same is true for Regulatory Reporting, which is one of the key areas of the RegTech revolution. Many firms try to make their mark in this field, but many would agree that the quality of …

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EBA to focus on risks of financial innovations in 2019

The European Banking Authority (EBA) published today its detailed annual work programme for 2019, describing the specific activities and tasks of the Authority for the coming year and highlighting the key strategic areas of work from 2019 to 2021. In 2019, the EBA will focus on (i) leading the Basel III implementation in the EU; …

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FATF advises on Regulation of Cryptocurrencies

Following its latest plenary session the Financial Action Task Force (FATF) today published a statement on the regulation of virtual assets. The intergovernmental body has amended its Ssandards to respond to the increasing use of virtual assets for money laundering and terrorist financing.  This includes an amendment of the FATF Recommendations and Glossary to clarify …

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International AML Body issues Statement on Regulation of Virtual Assets

The Financial Action Task Force (FATF), the inter-governmental policy making body fighting money laundering and terrorist, has published today a statement Regulation of Virtual Assets. It comes on the back of its latest plenary meeting in Paris. The statement acknowledges that virtual assets and related financial services have the potential to spur financial innovation and …

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The regulatory mess of German crypto regulation and what banks need to be mindful of now

New rules for Crypto risk assessments that will make German banks even more reluctant to work with cryptocurrencies, a court decision that puts the entire current legal framework into question and the wait for a European solution that will give the industry a framework in which it can fulfil its potential. The German crypto sector …

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SEC Launches New Strategic Hub for Innovation and Financial Technology

The U.S. Securities and Exchange Commission today announced the launch of the agency’s Strategic Hub for Innovation and Financial Technology (FinHub). The FinHub will serve as a resource for public engagement on the SEC’s FinTech-related issues and initiatives, such as distributed ledger technology (including digital assets), automated investment advice, digital marketplace financing, and artificial intelligence/machine learning. The …

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FCA opens a discussion on the impact of climate change and green finance on financial services

The Financial Conduct Authority (FCA) has today published a Discussion Paper on climate change and green finance. The effects of climate change and the associated transition to a low carbon economy may have a major impact on financial markets and on products that serve those markets. The Discussion Paper sets out how the impacts of …

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