PYMNTS-MonitorEdge-May-2024

Parliament

UK Finance Ministry Nixes Veto Proposal Over Regulators
UK Finance Ministry Nixes Veto Proposal Over Regulators
November 23, 2022  |  Regulation

A proposal that would have allowed Britain’s finance ministry to overturn decisions made by financial regulators has been removed from a bill that is now...

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UK Government Eyes Crypto Opportunity With ‘Agile’ Legislation
UK Government Eyes Crypto Opportunity With ‘Agile’ Legislation
September 25, 2022  |  Cryptocurrency

Little has been heard from Rishi Sunak since losing the Tory leadership race to rival Liz Truss, now Prime Minister of the U.K., earlier this...

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UK Bill Will Make It Easier to Seize Crypto in Money Laundering Cases
UK Bill Will Make It Easier to Seize Crypto in Money Laundering Cases
September 22, 2022  |  Cryptocurrency

A proposed law in the U.K. will make it easier for law enforcement to seize, freeze and recover cryptocurrency used by criminals to launder profits...

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What the UK’s Economic Crime Bills Mean for Anti-Money Laundering Fight
What the UK’s Economic Crime Bills Mean for Anti-Money Laundering Fight
August 09, 2022  |  Security & Fraud

Last week saw the implementation of the U.K.’s long-awaited “Register of Overseas Entities,” a cornerstone of the government’s Economic Crime Act. But what is “economic...

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UK Parliament Asks Visa, Mastercard to Explain Swipe Fees Hike
UK Parliament Asks Visa, Mastercard to Explain Swipe Fees Hike
July 14, 2022  |  Regulation

On Wednesday (July 13), the Treasury Committee at the U.K. Parliament sent letters to Visa and Mastercard requesting them to explain their increases in cross-border...

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Queen’s Speech to Parliament Highlights New Rules for Big Tech
Queen’s Speech to Parliament Highlights New Rules for Big Tech
May 10, 2022  |  emea

The U.K. government revealed today (May 10) its legislative agenda for the next parliamentary session. The Queen´s Speech, this year delivered by Prince Charles, unveiled...

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EU Parliament Calls For More Consumer Protection In AI, Automation
EU Parliament Calls For More Consumer Protection In AI, Automation
January 24, 2020  |  International

Parliament’s Internal Market and Consumer Protection Committee issued a resolution Thursday (Jan. 23) that will put rules into place to address the challenges of fast-developing...

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UK Regulators Want First-Time Payments Delay To Avert Fraudsters
UK Regulators Want First-Time Payments Delay To Avert Fraudsters
November 01, 2019  |  Bank Regulation

U.K. legislators are calling for a mandatory 24-hour waiting period on all first-time payments between bank accounts as a way to reduce fraud, Reuters reported...

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Lack Of RBS Fines Lands UK Watchdog In Hot Water
Lack Of RBS Fines Lands UK Watchdog In Hot Water
June 14, 2019  |  B2B Payments

U.K. MPs are criticizing the Financial Conduct Authority (FCA) after it decided not to take action against RBS despite finding that the bank mistreated small...

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