Topic: Fintech

OSFI publishes principles for banks’ AI projects

Financial institutions designing AI systems should consider factors including an intelligible model, sophisticated data governance and utilisation, comprehensive and adaptive operational governance, as well as societal impacts and fairness, according to new guidance issued by the Canadian financial regulator.

25 April 2023

EBA adapts AML supervision guidelines to crypto firms

The EU’s banking regulator in Europe has released plans to adapt its anti-money laundering oversight to include crypto service providers, as the single market moves to put them under the same AML rules as financial institutions.

03 April 2023

NFTs are not securities, BaFin says

Germany’s financial regulator has said it will judge the nature of non-fungible tokens on a case-by-case basis rather than issuing a blanket definition, in its long-awaited views on NFT oversight.

21 March 2023

Report: Security token issuance “possible” under English law without new legislation

The existing English legal system could accommodate security token issuance and transfer without “statutory intervention”, a UK government-backed group has said.

17 February 2023

Hong Kong moves forward on new crypto regime

Hong Kong’s de facto central bank has confirmed a 2023/2024 date for implementation of its forthcoming crypto regime, as market participants call on it to pursue demanded a more coordinated approach with other regulators.

06 February 2023

What’s in store for 2023? Part three: regional issues

Some of the regulatory issues banks will face in 2023 cut across borders, but not all. In this final part of GBRR’s examination of the year to come, we asked practitioners in the US, UK, Singapore, and Hong Kong how local issues will play out over the next 12 months.

18 January 2023

UK payments regulation “not working as well as it could”, Treasury admits

The UK government has called for input on plans to “future-proof” its post-Brexit, post-PSD2 payments regime after admitting the current framework has failed to foster open banking as desired.

17 January 2023

What’s in store for 2023? Part one: crypto

How will regulators grapple with crypto in 2023, after one of the rockiest years in the industry’s short history? In the first of three pieces examining what 2023 has in store for banking regulation, GBRR spoke with practitioners from Europe, the United States, Singapore and Hong Kong about the road ahead for crypto.

09 January 2023

FTX failure bolsters “same risk, same regulation” argument, UK regulator says

The Bank of England’s deputy governor for financial stability Jon Cunliffe has spoken out about how the collapse of crypto exchange FTX will impact the UK’s plans for crypto regulation – while giving details on the central bank’s plans for a systemic payment systems regulatory regime and a digital pound.

22 November 2022

FSB outlines next steps for cross-border payments

The Financial Stability Board has published the priority themes for its cross-border payments plan – including greater engagement with the private sector at senior management level.

13 October 2022

Unlock unlimited access to all GBRR content