Through the past several weeks and months, the drumbeat’s grown louder for regulations at the federal level to govern nonbanks — especially FinTechs, neobanks and Big Tech. And while the goal may be uniformity, there’s still a lack of concrete detail about who would be...
The head of England’s financial watchdog has reportedly been accused of violating a whistleblower’s confidentiality. Ashley Alder, chair of the Financial Conduct Authority (FCA), allegedly forwarded correspondence featuring a whistleblower’s name, address and concerns without redaction, the Financial Times (FT) reported Friday (Aug. 23). The...
The United Kingdom’s Financial Conduct Authority (FCA) proposed new rules on publishing a prospectus, raising capital and regulating secondary markets, and finalized new rules on investment research. These rules aim to strengthen the U.K.’s capital markets and its position as a global financial center, the...
A top global financial watchdog says the “shadow banking” sector needs more regulation. Writing Monday (July 22) to a group of finance ministers and central bank governors, Financial Stability Board (FSB) Chair Klaas Knot said recent “incidents of market stress and liquidity strains” have shown that non-bank financial institutions...
July 06, 2021
More businesses and consumers are conducting their daily tasks and transactions online, meaning offering seamless digital experiences is becoming increasingly important for today’s financial institutions (FIs). This also means banks must work to ensure their online services are kept secure against the bad actors as they follow customers’ lead, however. Seventy-four percent of banks claimed […]
September 04, 2018
U.K. payday lending startup Wonga has come to the end of the road, having filed for administration (similar in concept to bankruptcy in the U.S.) in the closing days of...
May 28, 2018
It’s not exactly dogs and cats living together in harmony, but FinTechs and banks — the upstarts and the traditionalists — are certainly cozying up, a trend that looks certain...
April 20, 2018
A perfect storm of regulatory changes and card brand rule changes has left many merchants wondering to whom, exactly, they are beholden and what, exactly, they must do to comply....
November 03, 2024
Last month, the Justice Department settled an anti-money laundering probe into TD Bank. But according to U.S. Sen. Elizabeth Warren, D-Mass., the $3 billion the government received from the Canadian lender was not enough. As The Wall Street Journal (WSJ) reported last week, Warren said the Department of Justice (DOJ) erred by choosing not to […]
August 25, 2024
The head of England’s financial watchdog has reportedly been accused of violating a whistleblower’s confidentiality. Ashley Alder, chair of the Financial Conduct Authority (FCA), allegedly forwarded correspondence featuring a whistleblower’s...
July 26, 2024
The United Kingdom’s Financial Conduct Authority (FCA) proposed new rules on publishing a prospectus, raising capital and regulating secondary markets, and finalized new rules on investment research. These rules aim...
July 22, 2024
A top global financial watchdog says the “shadow banking” sector needs more regulation. Writing Monday (July 22) to a group of finance ministers and central bank governors, Financial Stability Board (FSB) Chair Klaas...
