RegTech

In a key step towards modernising its financial market infrastructure, the UK is poised to adopt a T+1 settlement cycle for securities trades by 11 October 2027.

In its latest report, the BIS addresses the burgeoning role of AI in central banking, underscoring the critical balance between promoting innovation and managing associated risks.

7AI has secured $36m in seed funding from prominent investors including Greylock Partners, Spark Capital, and CRV.

In an initiative to bolster transparency in financial disclosures, the SEBI has announced a proposal to mandate digital assurances for financial statements of the top-100 listed companies.

Financial institutions in the Channel Islands, specifically Jersey and Guernsey, must adhere to stringent compliance requirements under the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS). These frameworks are crucial in upholding international tax transparency by ensuring institutions report relevant financial information to tax authorities.

ZeroRisk, an Irish firm specialising in compliance and cyber risk management tools for the payment industry, has secured $4m in a funding round.

Gartner introduced Digital Communications Governance and Archiving (DCGA) in 2023, recognising a growing need for compliance and security solutions within modern communication tools. Theta Lake, a DCGA platform, recently explored what DCGA compliance is and what firms need to know.

Ensuring accurate name matching is a fundamental aspect of regulatory compliance, particularly in areas like KYC (Know Your Customer) and AML (Anti-Money Laundering). However, screening names across different languages and scripts presents a significant challenge. To address these complexities, IMTF partnered with Babel Street to enhance precision in name matching and reduce compliance risks.

The landscape of financial crime risk management is in constant flux, influenced heavily by the dynamic interplay of emerging technologies and evolving governmental and international regulations.

Worldpay, a prominent player in PayTech, is set to acquire Ravelin, a leading AI-native fraud prevention platform based in London.