Tag: RegTech

After a tough 2020, the world looked to 2021 with the optimism of a new beginning and hoped for respite from the Covid-19 pandemic. While the pandemic still looms large, businesses globally are learning how to operate in this new normal. With in-person interactions still a stretch for many, RegTech solutions are being given their time to shine.

The Financial Crimes Enforcement Network (FinCEN) has issued a consultation that is seeking comments on ways to modernise, streamline and update the US AML/CFT regulatory regime.

Leveraging Communications Data as an Enterprise Strategic Asset

The Securities and Exchange Commission (SEC) has fined JPMorgan $125m due to ‘widespread and longstanding failures’ by the bank to maintain and preserve written communications.

Founded in 2015, Know Your Customer provides digital onboarding solutions to financial institutions and regulated organisations globally. The company builds its KYC platform as an interconnected set of web apps, APIs, databases and pre-trained machine learning models – and is helping to change the game in digital corporate onboarding.

The Reserve Bank of New Zealand (RBNZ) has issued a consultation seeking feedback on challenges facing the country’s cash system and the options to maintain it.

The China Banking and Insurance Regulatory Commission (CBIRC) has asked banks in China to strengthen risk management in supply chain finance transactions.

The Securities and Exchange Board of India (SEBI) has published an investor charter aimed at those who invest in securities markets.

The Hong Kong Monetary Authority (HKMA) has disciplined four banks due to anti-money laundering (AML) violations for a total imposed penalty of HKD$44.2m.

A new US law set to be introduced in May next year will require banks to report major cybersecurity incidents to federal officials within 36 hours.