Category: Regulations

August 20, 2019

The Capital Market, Insurance and Saving Authority division is dedicating industry teams, some of whom specialise in blockchain companies, to create local competition by increasing the number of licensed fintech companies across the country. Around 2,000 fintech and blockchain companies […]

July 5, 2019

The Central Bank of Ireland (CBI) has slapped a €5.9 million penalty on Wells Fargo Bank International Unlimited Company, the second biggest fine it has ever issued, for what it called a prolonged series of regulatory reporting breaches and “serious […]

July 5, 2019

The Financial Conduct Authority (FCA) has focused on derivatives linked to crypto-assets, citing their extreme volatility, difficulty in valuation and the limited understanding of these products among retail consumers. The regulator’s fear is that retail investors may “suffer harm from […]

June 18, 2019

Federal Reserve officials have spoken approvingly of the idea of “insurance” interest-rate cuts that could be enough to shore up financial markets and keep the expansion on track. “Now, if you look back at Fed history– I’m not looking to […]

June 3, 2019

JPMorgan Chase & Co. has agreed to pay $5 million to resolve a discrimination claim filed by a male employee who alleged the bank’s parental leave policy was biased against dads. The payout resolves a 2017 complaint brought by the […]

May 30, 2019

Banks should not wait on lawmakers taking action on the myriad of proposed cannabis banking bills to make important strategic decisions about servicing marijuana-related business. It is unclear if any of the proposed cannabis banking bills will gain enough traction […]

May 16, 2019

Barclays, Citigroup, J.P. Morgan, MUFG and Royal Bank of Scotland have been fined a total of 1.07 billion euros ($1.2 billion) by EU antitrust regulators for rigging the spot foreign exchange market for 11 currencies. Swiss bank UBS was exempted […]

May 7, 2019

The Second Payments Services Directive (PSD2) is opening many doors for small companies in a bank-dominated industry. With the new rules some of the competences are transferred from the banks to the hands of the consumers. Consumers have the authority, […]

April 12, 2019

President Donald Trump’s new tax law aided corporations so radically that twice as many companies paid no federal taxes whatsoever in 2018, despite billions of dollars in profit, according to a new study. Amazon, Netflix, Chevron, Eli Lilly, Delta Airlines, […]

April 3, 2019

The changes are intended to refine the methods for determining the level of intraday credit that these branches and agencies can receive from the Federal Reserve Banks. Part II of the Board’s Payment System Risk Policy (PSR policy) governs the […]