#financial-regulation

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#consumer-protection

CFPB finalizes rule to oversee digital payment Giants Like Apple Pay

CFPB regulates large nonbank payment companies to ensure consumer protection and consistent enforcement of financial laws.

Banks to gain new powers to freeze large payments for fraud checks

UK banks will have new powers to freeze payments suspected of fraud for up to four days, aimed at enhancing protection against scams.

Online Credit Unions Offering High Interest Rates on Savings May Be Fakes

Ottawa Credit Union is unregistered and operating illegally, misleading consumers with promises of high-interest savings accounts.

Morning Docket: 11.21.24

Associates at law firms are disappointed by lower-than-expected bonuses despite record profits.

LoanSnap troubles continue as California revokes its lender license

LoanSnap's mortgage lending license was revoked due to failure to renew a surety bond, highlighting regulatory compliance issues.

"Open banking" rules issued, requiring data portability * The Register

The CFPB introduces a new rule to enhance consumer access to financial data and promote competition in the financial services industry.

CFPB finalizes rule to oversee digital payment Giants Like Apple Pay

CFPB regulates large nonbank payment companies to ensure consumer protection and consistent enforcement of financial laws.

Banks to gain new powers to freeze large payments for fraud checks

UK banks will have new powers to freeze payments suspected of fraud for up to four days, aimed at enhancing protection against scams.

Online Credit Unions Offering High Interest Rates on Savings May Be Fakes

Ottawa Credit Union is unregistered and operating illegally, misleading consumers with promises of high-interest savings accounts.

Morning Docket: 11.21.24

Associates at law firms are disappointed by lower-than-expected bonuses despite record profits.

LoanSnap troubles continue as California revokes its lender license

LoanSnap's mortgage lending license was revoked due to failure to renew a surety bond, highlighting regulatory compliance issues.

"Open banking" rules issued, requiring data portability * The Register

The CFPB introduces a new rule to enhance consumer access to financial data and promote competition in the financial services industry.
moreconsumer-protection
#gary-gensler

Gary Gensler, We Won't Miss You

Gensler's exit reflects frustrations in the crypto industry over his perceived unfair enforcement actions during his tenure as SEC chair.

SEC Chair Gary Gensler - who clashed with Wall Street and crypto industry - to step down

Gary Gensler's tenure at the SEC ended on Jan. 20, marked by a focus on regulatory reforms and regulations in the cryptocurrency sector.

US SEC chair Gensler to step down upon Trump takeover

Gary Gensler's tenure at the SEC focused on increasing transparency and enforcing regulations in the financial sector.

SEC's Mark Uyeda waves off rumors he could be Trump's pick for chair

Trump is expected to appoint a new SEC chair, likely moving away from Gensler's contentious leadership.

Gary Gensler, We're Gonna Miss You (Not)

Gensler's comments indicate strong skepticism regarding the future role of cryptocurrencies in financial systems.

Gary Gensler, We Won't Miss You

Gensler's exit reflects frustrations in the crypto industry over his perceived unfair enforcement actions during his tenure as SEC chair.

SEC Chair Gary Gensler - who clashed with Wall Street and crypto industry - to step down

Gary Gensler's tenure at the SEC ended on Jan. 20, marked by a focus on regulatory reforms and regulations in the cryptocurrency sector.

US SEC chair Gensler to step down upon Trump takeover

Gary Gensler's tenure at the SEC focused on increasing transparency and enforcing regulations in the financial sector.

SEC's Mark Uyeda waves off rumors he could be Trump's pick for chair

Trump is expected to appoint a new SEC chair, likely moving away from Gensler's contentious leadership.

Gary Gensler, We're Gonna Miss You (Not)

Gensler's comments indicate strong skepticism regarding the future role of cryptocurrencies in financial systems.
moregary-gensler
#fca

Minister urges UK financial regulator to rethink naming and shaming' plan

The City minister is challenging the FCA's plan to name and shame firms, considering its potential impact on financial stability.

Starling Bank fined $39 million for 'facilitating financial crime' | TechCrunch

Starling Bank was fined £29 million for inadequate financial crime controls, leading to onboarding high-risk customers despite regulatory warnings.

Santander UK sets aside 295m for car finance scandal

Santander UK has set aside £295 million for compensating customers affected by mis-sold car loans amid a growing financial controversy.

Minister urges UK financial regulator to rethink naming and shaming' plan

The City minister is challenging the FCA's plan to name and shame firms, considering its potential impact on financial stability.

Starling Bank fined $39 million for 'facilitating financial crime' | TechCrunch

Starling Bank was fined £29 million for inadequate financial crime controls, leading to onboarding high-risk customers despite regulatory warnings.

Santander UK sets aside 295m for car finance scandal

Santander UK has set aside £295 million for compensating customers affected by mis-sold car loans amid a growing financial controversy.
morefca

Ofwat rules out customers paying 195,000 Thames Water boss bonus

Regulator Ofwat insists that Thames Water's executive bonuses should not be funded by customers amidst the company's financial struggles.
#corporate-governance

SOX Compliance Checklist and Requirements

SOX Act ensures transparency and accountability in corporate finances for public companies, protecting investors from fraud.

Fed Bank Examiner Allegedly Gave Himself A Little Bonus

The SEC is cracking down on insider trading, exemplified by its lawsuit against a former Richmond Fed supervisor for trading on confidential information.

SOX Compliance Checklist and Requirements

SOX Act ensures transparency and accountability in corporate finances for public companies, protecting investors from fraud.

Fed Bank Examiner Allegedly Gave Himself A Little Bonus

The SEC is cracking down on insider trading, exemplified by its lawsuit against a former Richmond Fed supervisor for trading on confidential information.
morecorporate-governance

Watch: Reeves pledges to rip up red tape as post-2008 crash regulation gone too far'

Quality journalism is essential for informed public discourse, particularly during critical times in US history.
#bank-secrecy-act

Here Is What Happens When You Withdraw Over $10,000 From Your Bank Account

Withdrawing $10,000 in cash will trigger a federal report under the Bank Secrecy Act; prepare for possible delays and extra scrutiny.

Here Is What Happens When You Withdraw Over $10,000 From Your Bank Account

Withdrawing $10,000 or more will trigger a report under the Bank Secrecy Act, requiring additional documentation and could lead to delays.

Here Is What Happens When You Withdraw Over $10,000 From Your Bank Account

Withdrawing $10,000 in cash will trigger a federal report under the Bank Secrecy Act; prepare for possible delays and extra scrutiny.

Here Is What Happens When You Withdraw Over $10,000 From Your Bank Account

Withdrawing $10,000 or more will trigger a report under the Bank Secrecy Act, requiring additional documentation and could lead to delays.
morebank-secrecy-act

Senior Federal Reserve Official Who Blasted Bitcoin Now Says He'll Have an Open Mind

Federal Reserve President Neel Kashkari is beginning to reconsider his critical stance on cryptocurrencies but remains skeptical about their practical applications.

Everything Wall Street Is Buying After Trump's Historic Win

Wall Street surged following the Trump victory, reflecting optimism about significant market changes and reduced regulation.

Kemi Badenoch is the new Leader of the Conservative Party

Badenoch's election indicates a potential shift in Conservative leadership regarding the crypto sector, lacking vocal support for its growth.
#cryptocurrency

Crypto Is So Back

Cryptocurrency has rebounded significantly, showing resilience in the face of past failures and becoming a major political influence.

Crypto and Policy: A Week of Major Developments in the Crypto Ecosystem | HackerNoon

Cryptocurrency is significantly influencing political campaigns and financial markets, with over $180 million in donations to pro-crypto candidates this election cycle.

Here's what a Harris presidency might look like for Wall Street

A potential Democratic administration led by Vice President Kamala Harris would likely advance President Joe Biden's agenda of tough financial rules.

As Japan Election Looms, Political Parties Emphasize Need to Reform Crypto Tax Regulations

Japan's political parties are advocating for reform in crypto tax regulation leading to significant potential changes before the national elections.

Anti-Bitcoin: What Does BTC Need to Be to Actually Replace Fiat? | HackerNoon

Cryptocurrency serves as a means to evade financial oversight, rather than replace traditional finance.

Crypto Is So Back

Cryptocurrency has rebounded significantly, showing resilience in the face of past failures and becoming a major political influence.

Crypto and Policy: A Week of Major Developments in the Crypto Ecosystem | HackerNoon

Cryptocurrency is significantly influencing political campaigns and financial markets, with over $180 million in donations to pro-crypto candidates this election cycle.

Here's what a Harris presidency might look like for Wall Street

A potential Democratic administration led by Vice President Kamala Harris would likely advance President Joe Biden's agenda of tough financial rules.

As Japan Election Looms, Political Parties Emphasize Need to Reform Crypto Tax Regulations

Japan's political parties are advocating for reform in crypto tax regulation leading to significant potential changes before the national elections.

Anti-Bitcoin: What Does BTC Need to Be to Actually Replace Fiat? | HackerNoon

Cryptocurrency serves as a means to evade financial oversight, rather than replace traditional finance.
morecryptocurrency

UK car finance industry faces major disruption as lenders halt deals over commission ruling

UK car finance industry is facing significant disruption due to a court ruling on commission disclosure, leading to halted new finance deals.

How AI strengthens election security and mitigates corruption

Elections globally highlight the critical need for effective election security against corruption, cyber threats, and misinformation.
#uae

Standard Chartered Bank Launches Bitcoin and Crypto Custody Service in UAE

Standard Chartered has launched a digital asset custody service in the UAE, marking a significant shift in the financial services landscape.

UAE Exempts Crypto Transactions From Value Added Tax

The UAE has exempted all crypto transactions from value-added tax, enhancing the legitimacy of the virtual assets sector.

Standard Chartered Bank Launches Bitcoin and Crypto Custody Service in UAE

Standard Chartered has launched a digital asset custody service in the UAE, marking a significant shift in the financial services landscape.

UAE Exempts Crypto Transactions From Value Added Tax

The UAE has exempted all crypto transactions from value-added tax, enhancing the legitimacy of the virtual assets sector.
moreuae
#money-laundering

Feds Crack Down on Illicit Use of All-Cash Real Estate Deals for Money Laundering

The U.S. Treasury's new rule requires the disclosure of identities for all-cash homebuyers using shell companies to prevent money laundering.

Singapore Says It Has Seized $4.4 Billion in Dirty Money Since 2019

Singapore seized $4.4 billion in illicit assets, returning $416 million to victims and forfeiting $1 billion to the state.

Singapore demands luxury sellers do more after laundering fiasco

Singapore is urging high-value goods dealers to actively report suspicious customers to combat money laundering.

Feds Crack Down on Illicit Use of All-Cash Real Estate Deals for Money Laundering

The U.S. Treasury's new rule requires the disclosure of identities for all-cash homebuyers using shell companies to prevent money laundering.

Singapore Says It Has Seized $4.4 Billion in Dirty Money Since 2019

Singapore seized $4.4 billion in illicit assets, returning $416 million to victims and forfeiting $1 billion to the state.

Singapore demands luxury sellers do more after laundering fiasco

Singapore is urging high-value goods dealers to actively report suspicious customers to combat money laundering.
moremoney-laundering

LHCM Broker: Full Trading Platform Review

EXANTE trading platform provides extensive market access for professionals, supported by strong regulatory oversight.

U.S. Accuses Visa of Monopoly in Debit Cards

The Justice Department filed an antitrust lawsuit against Visa, alleging it stifled competition in the debit card market through unfair practices.
#sec

SEC Approves Options Trading on BlackRock's Spot Bitcoin ETF IBIT

The SEC approved options trading on BlackRock's Bitcoin ETF, enabling physically settled contracts and enhancing Bitcoin market liquidity.

Those Keurig Coffee Pods? They're Not So Recyclable, the S.E.C. Says.

Keurig Dr Pepper faces SEC fines for inaccurate recycling claims, highlighting regulatory focus on corporate accountability in environmental marketing.

SEC Commissioner Mark Uyeda Calls for S-1 Form Tailored for Digital Assets

The SEC should adapt its S-1 form specifically for digital assets, according to Commissioner Mark Uyeda.

Ken Griffin Not Interested In Paying To Let The SEC Keep An Eye On Ken Griffin

Ken Griffin strategically manages expenses and taxes while opposing new financial burdens on brokers related to the Consolidated Audit Trail.

SEC Approves Options Trading on BlackRock's Spot Bitcoin ETF IBIT

The SEC approved options trading on BlackRock's Bitcoin ETF, enabling physically settled contracts and enhancing Bitcoin market liquidity.

Those Keurig Coffee Pods? They're Not So Recyclable, the S.E.C. Says.

Keurig Dr Pepper faces SEC fines for inaccurate recycling claims, highlighting regulatory focus on corporate accountability in environmental marketing.

SEC Commissioner Mark Uyeda Calls for S-1 Form Tailored for Digital Assets

The SEC should adapt its S-1 form specifically for digital assets, according to Commissioner Mark Uyeda.

Ken Griffin Not Interested In Paying To Let The SEC Keep An Eye On Ken Griffin

Ken Griffin strategically manages expenses and taxes while opposing new financial burdens on brokers related to the Consolidated Audit Trail.
moresec
#legislation

Classic Hollywood laws inspire shields for kids in multibillion influencer industry

States are using old Hollywood laws to protect children in the modern influencer industry.

U.S. Republican Lawmakers Say Crypto Legislation Not Yet Off the Table for This Year

U.S. lawmakers remain hopeful for crypto legislation passage in the 2022 lame-duck session, indicating urgency and potential bipartisan support.

Classic Hollywood laws inspire shields for kids in multibillion influencer industry

States are using old Hollywood laws to protect children in the modern influencer industry.

U.S. Republican Lawmakers Say Crypto Legislation Not Yet Off the Table for This Year

U.S. lawmakers remain hopeful for crypto legislation passage in the 2022 lame-duck session, indicating urgency and potential bipartisan support.
morelegislation

China gives PwC 47m fine and six-month ban over Evergrande

PwC's China division received a six-month ban and a 441 million yuan fine for poor auditing of Evergrande, affecting investor trust.

Big banks fall short on climate risk plans says U.S. regulator

Major U.S. banks are inadequately prepared to manage climate change risks, with significant disparities in their risk assessment and integration efforts.

Why gift card fraud slips through the cracks of America's banking regulation system

Banking fraud protections in the U.S. have historically lagged behind criminal strategies due to the evolution of the banking system.

Australian Securities Regulator Nabbed More Than 600 Crypto Investment Scams in a Year

ASIC closed down 615 cryptocurrency scams, tackling a significant rise in investment fraud with Australians losing A$1.3 billion last year.

How will homebuying's commission mess end? Wall Street offers a clue

The home-selling industry is experiencing significant changes similar to past shifts in financial markets, particularly regarding commission structures and buyer-seller dynamics.

FranShares has a new approach to passive income, letting people invest in franchises for as little as $500 | TechCrunch

Investing in franchises through FranShares offers a new form of passive income.

FINRA wants Wall Street to stop blaming it for return-to-office mandates

FINRA's new rules are not meant to force a return to the office but to provide member firms with greater flexibility.
#consumer-financial-protection-bureau

Buy-now, pay-later returns and disputes are about to get federal oversight

Consumer Financial Protection Bureau requires buy-now, pay-later lenders to offer same protections as credit card companies.

Supreme Court Rejects Challenge to Consumer Watchdog's Funding

The Supreme Court rejected a challenge to the funding of the Consumer Financial Protection Bureau, preserving the agency's ability to regulate financial practices.

Buy-now, pay-later returns and disputes are about to get federal oversight

Consumer Financial Protection Bureau requires buy-now, pay-later lenders to offer same protections as credit card companies.

Supreme Court Rejects Challenge to Consumer Watchdog's Funding

The Supreme Court rejected a challenge to the funding of the Consumer Financial Protection Bureau, preserving the agency's ability to regulate financial practices.
moreconsumer-financial-protection-bureau

The Morning Risk Report: More Regulators Eye Whistleblower Award Programs Hoping for Insider Tips

Regulators globally are increasingly adopting cash-for-tips programs to encourage whistleblowers, signaling a shift in momentum towards rewarding useful information.

Unfair banking' and damaging' financial rules harming UK's small firms, MPs warn

Unfair banking practices and damaging financial regulators are impeding small business growth and innovation.
#crypto-assets

What Is MiCA And What Does It Mean for Crypto Users in Europe?

The European Union has implemented the world's first comprehensive legal framework for crypto-assets, called MiCA Regulations.
MiCA Regulations aim to make the crypto industry in the Eurozone transparent and secure for investors.

EU Markets Watchdog Steps Closer to Finalizing Rules Under MiCA

ESMA published final reports on measures under MiCA regulation, seeking public comments on proposed rules for market abuse detection.
MiCA aims to regulate crypto issuers and service providers within the EU, providing a single license to operate across member states.

What Is MiCA And What Does It Mean for Crypto Users in Europe?

The European Union has implemented the world's first comprehensive legal framework for crypto-assets, called MiCA Regulations.
MiCA Regulations aim to make the crypto industry in the Eurozone transparent and secure for investors.

EU Markets Watchdog Steps Closer to Finalizing Rules Under MiCA

ESMA published final reports on measures under MiCA regulation, seeking public comments on proposed rules for market abuse detection.
MiCA aims to regulate crypto issuers and service providers within the EU, providing a single license to operate across member states.
morecrypto-assets

Bitcoin price tops $70,000 in fresh record high

Bitcoin reached a record price of $70,000+
UK allows trading of cryptocurrency-backed securities

US and UK Financial Regulators Discuss Effective Crypto Oversight Regulation Bitcoin News

The U.S. and U.K. Financial Regulatory Working Group is highlighting the need for crypto regulation.

Banking watchdog warns on AI as global leaders gather in Davos

Financial regulation should be a blueprint for policymakers
AI-focused summit in Switzerland

Turkey's Banking Giants Go Big on Crypto as Legislation Looms

Turkey's government is preparing to introduce new legislation for the crypto sector.
Despite the uncertain regulatory environment, major Turkish banking groups have announced crypto initiatives.

Indian Government Reveals 28 Crypto Service Providers Are Registered With Financial Intelligence Unit Regulation Bitcoin News

28 crypto service providers are registered with India's Financial Intelligence Unit.
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