41 articles tagged with this keyword


MAS chief rubbishes private crypto in speech

Private cryptocurrencies have failed the basic test of digital money and are likely to be in decline in the near future


Symphony and Google launch AI-based JV for phone calls

Regtech provider Symphony is drawing on the generative AI capabilities of Google to develop a service to ensure banks' voice calls are compliant.


Do Kwan to be extradited from Montenegro

Terraform Lab’s former CEO Do Kwan is to be extradited to either South Korea or the USA following approval from a Court in Podgorica, Montenegro.


AI Act: Industry warns EU against overregulation

Digital Europe, a digital technology trade association, has warned the EU against overregulating in its upcoming AI bill in a letter this week.


EU considers widening scope of cybersecurity regulation

The EU is contemplating the need to widen scope of cybersecurity regulation to impact Big Tech, banks, and airlines as more companies move to the cloud to drive innovation.


UK companies backsliding on sanctions screening

UK companies are failing to keep up with the requirements for sanction-screening prospective clients despite the high level of global geopolitical unrest, according to a recently published survey.


DORA to spark changes in risk management tech

The imminent introduction of the EU's Digital Operational Resilience Act (DORA) will force sell-side firms to make significant changes to their third party risk management software and strategies, suggests a recently published survey.


Alibaba backtracks on cloud division split amid global uncertainties

Alibaba Group has cancelled its plans to spin-off its cloud division due to uncertainties from US exports on AI chips.


Bitwise distances itself from fraud charges levelled at firm of same name

Bitwise Asset Management distanced itself from charges issued by the SEC and US Department of Justice (DOJ) yesterday, which take aim at the former CEOs of defunct startup Bitwise Industries Inc.


Musk and Sunak talk AI regulation at the UK’s AI Safety Summit

Towards the end of the UK’s AI Safety Summit taking place this week, Prime Minister Rishi Sunak and tech tycoon Elon Musk sat down for a conversation on artificial intelligence (AI).


Survey reveals firms doubts over data quality

As many as three quarters of corporate, trust and fund services firms do not trust their own data, suggests recently published research.


Crypto regulation takes shape in Taiwan

Taiwan’s parliament passed the first reading of a proposed crypto bill in a bid to tackle offshore market concerns and enhance regulation in the crypto asset industry.


NatWest admits to failings in Farage fiasco, FCA to review case

The UK’s Financial Conduct Authority (FCA) has found potential “regulatory breaches” in NatWest’s decision to close former Brexit party leader Nigel Farage’s accounts earlier this year.


CFPB accelerates US open banking with new data rule

The Consumer Financial Protection Bureau (CFPB) has proposed its long-awaited open banking rule in the hopes of improving competition in the US banking and payments sector.


US Treasury proposes crypto mixer-crackdown to end anonymous transactions

The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has proposed a new rule that will increase transparency around crypto mixer transactions.


FCA fines Equifax £11m for major consumer data breach

The Financial Conduct Authority (FCA) has fined Equifax over £11 million for failing to protect their customers from a data breach outsourced to its US parent company.


Will Metro Bank be 2023’s next banking collapse?

Metro Bank has had a rough week. News that the UK challenger bank was planning to raise up to £600 million from investors, prompted financial watchdogs to summon the bank’s bosses for a sit-down.


SEB draws attention to carbon removal market and nature-related risk

Sustainable finance is a swiftly growing industry, with new innovations arising rapidly from all over the world. In conversation with an author of SEB’s Green Bond Report, Finextra considered the latest advancements in the sustainability sector leading up to our annual Sustainable Finance Live conference.


FCA calls for era of “new enlightenment” for financial inclusion

At the Scottish Financial Enterprise: Extending Financial Inclusion event in Glasgow this afternoon, CEO of the Financial Conduct Authority (FCA) Nikhil Rathi delivered a speech on how the regulator plans to implement policies to include the financially excluded in the current cost of living crisis, calling it “a new enlightenment” for financial inclusion.


Fujitsu trials gen-AI for Japanese banks

Japanese technology giant Fujitsu is to conduct trials into the use of generative AI (gen-AI) for banking operations.