From Lexology

India: the Token Transformation

India's digital payments market is, according to an estimate in a recent PhonePe-BCG study, tipped to touch USD 10 trillion by 2026. The study also…

08 August 2022

According to Banking Industry Groups, CFPB Should Supervise Data Aggregators

Eight national banking trade groups — the American Bankers Association, Consumer Bankers Association, Credit Union National Association, Housing…

04 August 2022

New Zealand: Conduct of financial institutions regime

On 29 June 2022, the Financial Markets (Conduct of Institutions) Amendment Act 2022 (the Act) attained Royal Assent. The Act is expected to fully…

04 August 2022

How to Classify and Regulate Crypto in Vietnam

Nterest in blockchain (chuỗi khối) technology in general, and crypto in particular, has grown exponentially. A number of business and professional…

04 August 2022

Ireland: the Central Bank (Individual Accountability Framework) Bill 2022 Published

On 28 July 2022, the Central Bank (Individual Accountability Framework) Bill 2022 (the Bill) was published by the Department of Finance (here). The…

03 August 2022

ASIC extends transitional relief again for foreign financial services providers

The Australian Securities and Investments Commission (ASIC) has announced a 12 month extension of its transitional relief for foreign financial…

03 August 2022

OFAC to Banks: Implement Continuous Sanctions Monitoring

On July 21, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued a finding of violation1 (“FOV”) against…

02 August 2022

FINTRAC Issues Clarification Regarding which Payment Service Providers Need to Register as MSBs

On July 21, 2022, the Financial Transactions and Reports Analysis Centre of Canada (“FINTRAC”) issued a notice (the “Notice”) to clarify which…

02 August 2022

Switching to SOFR: Proposed Rule Published to Implement the 2022 Federal LIBOR Act

On 19 July 2022, the Federal Reserve Board (the “Board”) published a notice of proposed rulemaking - Regulation Implementing the Adjustable Interest…

02 August 2022

Has the FCA made individual responsibility in banking a reality?

Statistics recently obtained by Herbert Smith Freehills call into question whether the Senior Managers Regime has been effective in allowing UK regulators to pursue enforcement against senior individuals in financial services, writes Jenny Stainsby, the global head of the firm’s financial services regulatory practice.

06 July 2022

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