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Walkers

Obligation for independent AML Audits under the Anti Money Laundering Regulations – What you need to know

Walkers on

Conducting an independent AML audit at a frequency based on the nature, scale and complexity of the entity is a requirement under the AML Regulations. AML audits are an important component of the control environment to...more

Barnea Jaffa Lande & Co.

Understanding DORA: An Overview of the Digital Operational Resilience Act

The Digital Operational Resilience Act (DORA) is an EU regulatory framework, aimed at enhancing the financial sector’s ability to withstand and recover from ICT (information and communication technology) disruptions....more

Ankura

Banking as a Service: How Strong Is Your Financial Crime Compliance Partnership?

Ankura on

The growth in partnerships between banks and Fintech companies through Banking as a Service (BaaS) models presents significant opportunities for innovation across the financial services sector. However, these collaborations...more

A&O Shearman

Zooming In on AI - #6: AI under financial regulations in the U.S., EU and U.K.

A&O Shearman on

Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...more

Manatt, Phelps & Phillips, LLP

DOJ Repeals 1995 Bank Merger Guidelines and Now Will Apply Its 2023 Merger Guidelines to Bank M&A

On September 17, 2024, the Antitrust Division of the United States Department of Justice (the “DOJ”) announced that it withdrew its 1995 Bank Merger Guidelines and instead, for purposes of evaluating the competitive impact of...more

Goodwin

Double Clicking on Innovation in Consumer Finance: Responsible Use of AI

Goodwin on

Artificial intelligence (AI) is becoming ubiquitous across sectors, and the financial services industry is no exception. With the rise of AI, there is also an increase in scrutiny by regulators over its use....more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2024

CFPB Issues Filing Instructions Guide for Small Business Lending Data - The CFPB has published instructions for banks and other covered financial institutions to submit small business lending data that is required to be...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 43: Investing in Financial Inclusion

Kabir Kumar, director of policy and ecosystem building at Flourish Ventures, joins RegFi co-hosts Jerry Buckley and Sasha Leonhardt to explore the fundamental role of technology in expanding access to fair and stable...more

Cadwalader, Wickersham & Taft LLP

New EU Regulatory Technical Standards on Reporting of Sustainability Impacts of Securitisations Come Into Force

Implementation: The Regulatory Technical Standards (RTS) supplementing Regulation (EU) 2017/2402 (EU Securitisation Regulation) on Principal Adverse Impacts (PAI) of simple, transparent and standardised (STS)...more

Ballard Spahr LLP

Proposals to Ease Capital Standards for New Banks Could Lead to More Failures, CRS Says

Ballard Spahr LLP on

In a recent report, the Congressional Research Service stated that capital formation remains the largest obstacle hampering the formation of de novo banks, but regulatory and legislative changes that have been proposed could...more

K&L Gates LLP

Global Survey of ESG Regulations for Asset Managers - ESG and the Sustainable Economy Handbook

K&L Gates LLP on

INTRODUCTION - Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation...more

K&L Gates LLP

ESG—Australia – Climate-Related Financial Disclosures: Updated Bill

K&L Gates LLP on

On 27 March 2024, the Australian Government published the first reading draft of the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (New Bill), which superseded the previous exposure...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 35: Meeting Compliance Challenges with AI-Powered Regtech Solutions

We have something a little different for this week’s episode. RegFi co-hosts Jerry Buckley and Caroline Stapleton recently joined the latest installment of the American Fintech Council’s Future of Finance Webinar Series. The...more

BCLP

A deep dive into the FCA’s approach to the regulation of AI within financial services

BCLP on

Last week the FCA issued three announcements concerning its approach to the digital future of financial services in the UK. Amongst these was the FCA’s AI Update, their response to the government’s recent AI consultation...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 23: Regulatory Tech Innovation Accelerating Around the Globe: Nick Cook Describes Trends

Nick Cook joins RegFi cohosts Jerry Buckley and Sasha Leonhardt for a conversation about how regulators globally are approaching technological innovation, both in the markets they supervise and within their own operations....more

Holland & Knight LLP

La SFC expide regulación sobre las finanzas abiertas en Colombia

Holland & Knight LLP on

La Superintendencia Financiera de Colombia (SFC) expidió recientemente la Circular Externa 004 de 2024, mediante la cual se establecen los estándares necesarios para el despliegue de las finanzas abiertas en el país. La...more

Walkers

FATCA / CRS update: Jersey consultation announced

Walkers on

The Minister for External Relations of the Government of Jersey (GoJ) recently announced a public consultation seeking views on a number of proposed changes to the operation of the Common Reporting Standard (CRS) and the US...more

Goodwin

Pick Up the Indemnification Stick for Your True Lender Bundle

Goodwin on

In this edition of Fintech Flash, we discuss ways to think about true lender risk in fintech–bank lending partnerships, with a particular focus on how indemnification provisions in program agreements weigh in the balance of...more

BCLP

Social Action - How will the financial regulator influence the Online Safety Act?

BCLP on

Social media raises a novel set of risks and challenges to effective financial services regulation, particularly in the field of consumer protection and market integrity. Specifically, regulators have expressed concerns...more

K&L Gates LLP

Global Survey of ESG Regulations for Asset Managers

K&L Gates LLP on

Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation of environmental,...more

Cadwalader, Wickersham & Taft LLP

Hot Topics for 2024

Here are some of our key focus items across Europe and the UK as we enter a New Year.  There are, of course, others, but these represent the most important themes – a regulatory focus on the non-bank credit market, risk...more

Latham & Watkins LLP

10 Key Focus Areas for UK-Regulated Financial Services Firms in 2024

Latham & Watkins LLP on

In this publication, we explore some of the core focus areas for UK-regulated financial services firms in the year ahead. 2023 saw significant progress on the regulatory reform agenda, and many measures consulted on or...more

Patterson Belknap Webb & Tyler LLP

Implementation of DFS Cybersecurity Amendments Continues as Ransomware Attacks Dominate Headlines

Last month, as the New York State Department of Financial Services (“DFS”) began phasing in amended cybersecurity regulations and continued enforcement actions against noncompliant entities, a wave of ransomware attacks...more

K&L Gates LLP

Global Survey of ESG Regulations for Asset Managers - ESG and the Sustainable Economy Handbook

K&L Gates LLP on

Investment advisers offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation of environmental, social, and governance...more

Goodwin

Crypto business in (and “to”) the UK: Further light on the new regulatory regimes

Goodwin on

The Response and Stablecoins Update confirm the core of HMT’s policy proposals in the General Consultation and Stablecoin Consultation, respectively, although they shine further light on the features of the regulatory regime....more

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