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Category: Regulations


Regulations, Uncategorized

Group Warns Climate Regulations Could Disrupt Investment Strategies

December 10, 2019

Via: Insurance Journal

Tighter government climate regulations by 2025 could wipe up to $2.3 trillion off the value of companies in industries ranging from fossil fuel producers to agriculture and car makers, an investor group warned in a report. Rules aimed at lowering […]


Regulations

Regulators need to provide clarity on Libor cessation, says ISDA

December 5, 2019

Via: Banking Technology

A transition away from Libor – which has been tarnished by rigging scandals – remains one of the largest challenges facing the industry. The Financial Stability Board’s (FSB) Official Sector Steering Group (OSSG) coordinates international efforts on benchmark reform and […]


Regulations

Citigroup fined record £43.9m for ‘widespread’ regulatory reporting failures

November 27, 2019

Via: Banking Technology

PRA deputy governor Sam Woods says “Citi failed to deliver accurate returns and failed to meet the standards of governance and oversight of regulatory reporting which [the PRA] expect of a systemically important bank”. The Bank of England, which oversees […]


Regulations

Deutsche Bank already using robots as it gears up to cut 18,000 jobs

November 22, 2019

Via: Banking Technology

The bank’s head of operations for corporate and investment banking Mark Matthews told Financial News that machine learning tools have already saved “680,000 hours of manual work”. Matthews say the bank has so far used bots to process five million […]


Regulations

Wells Fargo ordered to pay USAA $200m for infringed payments patents

November 11, 2019

Via: Banking Technology

The patents, which focused on making cheque deposits made with mobile devices simpler, were the subject of a 2018 patent infringement lawsuit filed by USAA targeting Wells Fargo’s mobile deposit solution. The process allows bank customers to use their mobile […]


Capital and Risk, Credit, Regulations

Apple Card faces investigation over sexist credit limit claims

November 11, 2019

Via: Finextra

On Friday, David Heinemeier Hansson, a prominent technology entrepreneur, complained to his 355,000 Twitter followers that the Apple Card is “such a fucking sexist program” because its “black box algorithm thinks I deserve 20x the credit limit she [his wife] […]


Regulations

Wells Fargo Names Kennedy Head of Business Continuity & Resiliency

November 5, 2019

Via: ABF Journal

Christel Kennedy has joined Wells Fargo as head of Business Continuity and Resiliency, reporting to Saul Van Beurden, head of Technology. She is based in New York City. “Christel is a proven leader with more than 30 years of experience […]


Regulations

US regulators sign up to Global Financial Innovation Network

October 28, 2019

Via: Banking Technology

The Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC) today announced their addition to the GFIN. GFIN, formally launched in February 2019, is […]


Regulations

US financial regulators join Global Financial Innovation Network

October 24, 2019

Via: Finextra

U.S. financial regulators have taken proactive steps in recent years to enhance regulatory clarity and understanding for all stakeholders and promote early identification of emerging regulatory opportunities, challenges, and risks. Participation in the GFIN furthers these objectives and enhances the […]


Regulations

US fintech community dealt blow by federal court as charter is denied

October 23, 2019

Via: Banking Technology

The OCC’s charter, which aimed to give fintechs an alternative route to a banking licence without having to go through the state, was denied by the courts as the judge sided with the plaintiff and the superintendent of the New […]