Financial technology is already well established in Jersey, and firms are embedding technological solutions which enhance their products and services, increase efficiencies, and provide greater transparency. Originally...more
When the calendar turned to 2020, my first thought was about how futuristic the year sounded and what kind of interesting things it had in store. At that time, no one could possibly have imagined that some of those...more
Recently, BuzzFeed News and the International Consortium of Investigative Journalists (“ICIJ”) reported on a 16-months’ long investigation into a trove of explosive documents apparently leaked from the U.S. Financial Crimes...more
The Global Financial Innovation Network has published a report on lessons learned during the cross-border testing of innovative firms and their products. The GFIN was launched at the start of 2019 and is a network of...more
According to Megan Butler, Executive Director of Supervision at the UK Financial Conduct Authority (FCA), financial crime is big business; the estimated annual cost of fraud is £190 billion. In Butler’s view, although...more
On October 24, 2019, four federal regulators took a significant step toward international regulatory collaboration in financial innovation when the Commodities Futures Trading Commission (CFTC), Federal Deposit Insurance...more
The Consumer Financial Protection Bureau (CFPB), working in partnership with multiple state regulators, announced on September 10 that it has launched the American Consumer Financial Innovation Network (ACFIN) to strengthen...more
The Global Financial Innovation Network, the group of financial regulators established in 2018 to support international financial innovation, has published a report on the progress made during its first year. The group is...more
The framework of a regulatory sandbox should allow for informal dialogue with regulators at the idea or initial concept and early design stages, and controlled experiments with real-time regulatory input and feedback at the...more
Commons Treasury Committee report on crypto-assets - The House of Commons Treasury Committee published its report on crypto-assets. The report relates to the digital currencies inquiry the Committee launched earlier this...more
Spurred by the increasingly rapid growth of innovative business models and technologies, financial services regulators from around the world have jointly announced plans to create a Global Financial Innovation Network...more
12 international financial regulators and related organizations announced the launch of the Global Financial Innovation Network. The announcement, which was accompanied by a consultation paper on the role and objectives of...more