Legislation

New research commissioned by audit and tax consultancy RSM has found that 30% of European businesses are still non-compliant with the General Data Protection Regulation (GDPR).

Equifax, a credit score company, has agreed to pay at least $565m as a settlement to a data breach in 2017.

The China Banking and Insurance Regulatory Commission (CBIRC) has issued new ownership rules for unlisted Chinese banks, which now have until the end of June 2020 to comply with them.

ARMCO, a risk management platform, has received an investment from private equity firm New Capital Partners.

As data protection rules are becoming more prevalent around the world, companies paying consumers for data could become the norm.

InCountry, a data-residency-as-a-service platform, has closed its Series A on $15m, just months after raising its seed round.

Lexion, a contract management solution, has closed its seed round on $4.2m from Madrona Venture Group and Wilson Sonsini Goodrich & Rosati (WSGR).

The European Securities and Markets Authority (ESMA) has published new guidelines on stress testing and reporting on money market funds to national competent authorities.

The final rules of the EU’s Revised Payment Service Directive (PSD2) snap into action in September. Now Kaleyra, an in-mobile messaging service for banks and companies, and Epiphany, a RegTech startup specializing in PSD2 compliance have joined forces to ensure financial services businesses can comply with the changes.

Early-stage-focused Sierra Ventures has raised $215m for the final close of its oversubscribed Fund XII.