Topic: Fintech

BaFin caps N26 growth

Germany’s regulator has intervened to slow the growth of digital bank N26, imposing a cap on new customers, as counsel from Osborne Clarke, White & Case and Freshfields advise on a funding round positioning it as the highest-valued fintech in the German market.

20 October 2021

Big Tech sceptic tapped for Comptroller

After months of deliberation, US President Joe Biden has nominated a Comptroller of the Currency in former Davis Polk & Wardwell attorney Saule Omarova, who would be the first woman and person of colour to permanently fill the role.

24 September 2021

FINMA approves first digital securities depository

Zurich-based FMI operator Six, advised by Heuking Kühn Lüer Wojtek, has obtained the first-ever Swiss licence for a central securities depository to use distributed ledger technology to support digital currencies.

13 September 2021

Simmons & Simmons advises on UK-Kuwait Islamic digital bank creation

A Kuwaiti bank advised by Simmons & Simmons has established the world’s first international Islamic digital bank.

13 August 2021

Binance and Coinbase shed recent regulatory hires

Crypto exchanges Binance and Coinbase have lost their recent big-name hires from US regulators – former acting comptroller of the currency Brian Brooks and the SEC’s former trading and markets division director Brett Redfearn respectively – who have both departed after only months in post.

11 August 2021

Circle sets sights on federal charter

US fintech Circle is attempting to obtain a US federal bank charter, citing frustrations at third party chains slowing its operations.

11 August 2021

Big techs could get “systemically important” tag, BIS says

The Bank for International Settlements has called for closer regulatory scrutiny of big techs offering payment services, opening the door to some being labelled as systemically important.

04 August 2021

US regulators call on banks to scrutinise third party relationships

The United States’ banking regulators have proposed guidelines for banks to manage risks carried within third-party relationships by giving greater oversight to their “critical activities”, particularly where fintechs are involved.

19 July 2021

If it walks like a bank…

In the last year, the banking sector has weathered the covid-19 crisis, but the demises of non-banks Archegos, Greensill and Wirecard have raised questions about the distinctions between bank and non-bank regulation. As fintechs continue to innovate, and alternative lenders offer an increasingly wide range of services, do regulators need to widen their perimeter?

14 July 2021

Ashurst advising on Australian digital bank licensing

Australia’s banking regulator has granted its first banking licence since the lifting of a pandemic-era moratorium, as it prepares a coming revamp of its bank licensing framework.

14 July 2021

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