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625 Results from /regulation, 2021

/regulation

Viola Money enters administration

On 21 December 2021, a special administration order was made by the Court, in relation to Viola Money (Europe) Limited, under the 2021 Payment and Electronic Money Institution Insolvency Regulations.

/regulation

Metro Bank fined £5.4 million for failing in its regulatory reporting governance and controls

The Prudential Regulation Authority (PRA) has imposed a financial penalty on Metro Bank plc (Metro Bank) of £5,376,000 for failing to act with due skill, care and diligence in relation to the regulatory reporting of its capital position and for failings in its regulatory reporting governance, controls and investment with respect to its Common Reporting (COREP) returns sent to the PRA between 13 May 2016 to 23 January 2019.

/regulation

Swarm Markets launches regulated decentralised OTC trading

Berlin-based Swarm Markets GmbH, the first regulated decentralised financial infrastructure provider, announces it will launch a peer-to-peer contract for high value transactions in Q1 2022.

/regulation

SEC charges Russians in $80m hacking and trading scheme

The Securities and Exchange Commission today announced fraud charges against five Russian nationals for engaging in a multi-year scheme to profit from stolen corporate earnings announcements obtained by hacking into the systems of two U.S.-based filing agent companies before the announcements were made public.

/regulation

ECB draws up action plan to address IT outages that plagued payment systems in 2020

The European Central Bank (ECB) has today published an action plan to address the recommendations of an independent review mandated by the ECB’s Governing Council in November 2020, following the five major incidents that affected TARGET2 and TARGET2 Securities in 2020.

/regulation

Value of FCA fines increase nearly fourfold to £577m

An end of year surge in fines has seen the value of FCA fines increase nearly fourfold to £577m this year, up from £156m last year – the highest value of fines in six years, says leading international law firm RPC.

/regulation

Mexican Ministry of Finance to explore cryptocurrency

(December, 2021) VIP$ Coin (VIP$), the asset backed Blockchain Cryptocurrency, has opened conversations with the Mexican Government to discuss the prospect of bolstering its economy with decentralised currency.

/regulation

FinCEN seeks comments on modernisation of US financial crime controls

Today, FinCEN is issuing a request for information (RFI) seeking comments on ways to streamline, modernize, and update the anti-money laundering and countering the financing of terrorism (AML/CFT) regime of the United States.

/regulation

Revolut granted full banking licence in Lithuania

Following the proposal of the Bank of Lithuania, a specialised bank licence of Revolut Technologies UAB has been changed to a banking licence by the European Central Bank.

/regulation

Finom acquires electronic-money license in the Netherlands

The Netherlands-based B2B fintech platform FINOM has acquired an electronic-money license in the Netherlands, via full subsidiary FINOM Payments BV, laying the foundations for even stronger growth across all EU markets.

/regulation

European Commision presents new digital strategy to modernise financial supervisory reporting

The European Commission has today presented a new strategy to improve and modernise financial supervisory reporting in the EU.

/regulation

Equifax introduces OnboardConnect to streamline business transactions

Equifax (NYSE: EFX) today introduced a new solution designed to help business-to-business transactions occur faster, with a higher degree of certainty and at a lower cost.

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