Regulation & Compliance - Long Reads, News, Articles & Research: Finextra

Wind of change: VAT and e-invoicing in the digital age

Jurgen Soetaert Founder of Digicrowd, e-Invoicing expert at Flowin

Wind of change: VAT and e-invoicing in the digital age

Anyone in Europe that’s involved in invoicing and VAT will have heard of the EU’s VAT in the Digital Age (ViDA) proposal that’s been eluding agreement among member states for two years. Designed to streamline VAT across the European Union, member states have once again failed to reach agreement on ViDA during the latest vote in June 2024. A lot of...

04 September 2024 /regulation

How can the UK become a world leader in regtech?

Chris Hayward Policy Chairman at City of London Corporation

How can the UK become a world leader in regtech?

The global regtech industry could be worth $85bn by 2032, how can the UK become a market leader? One of the key challenges facing the City of London is the growing competition from finance centres all around the world. New York continues to be a powerhouse attracting many exciting businesses to list, Singapore’s regulatory environment and digital i...

02 September 2024 /regulation

How MiCA is already being embraced by financial services

Níamh Curran Senior Reporter at Finextra

How MiCA is already being embraced by financial services

Banking Circle has launched the first EU Markets in Crypto Assets (MiCA) compliant stablecoin, among the first cryptocurrency-related assets to be launched under the new regulation. MiCA doesn’t come into full effect until the end of this year, 30 December. Banking Circle has taken a plunge into the no-so-unknown in releasing this product – MiCA ha...

29 August 2024 /regulation

What the US open banking rule means for consumers, FIs, and fintechs

Scott Hamilton Contributing Editor at Finextra Research

What the US open banking rule means for consumers, FIs, and fintechs

Interest is growing quickly - no doubt accompanied by some deep-seated indigestion as well - as US financial institutions, fintechs, and related service providers await the expected release of a key new US rule on Open Banking (Section 1033). While most agree it will bring positive advances for consumer data control and protection to the customer ...

15 August 2024 /regulation

How US Inflation Reduction Act funds IRS high income taxpayer collections

Scott Hamilton Contributing Editor at Finextra Research

How US Inflation Reduction Act funds IRS high income taxpayer collections

As we continue to explore the potential outcomes of the US presidential election on financial institutions and fintechs, it seemed like a suitable time to take a second look at income taxes, one of the key components of every company’s financial planning and ongoing management. Turns out, a particular piece of two-year old climate change mitigatio...

09 August 2024 /regulation

Key considerations for finance startups embarking on joint ventures

Tahmid Majeed Associate Solicitor at SA Law

Key considerations for finance startups embarking on joint ventures

Joint ventures can be a profitable endeavour for startups wanting to break new markets, especially in a challenging global economy. A survey last year of global executives found 58% preferred joint ventures to mergers and acquisitions due to economic uncertainty. A joint venture is two or more parties coming together for a specific business purpos...

07 August 2024 /regulation

US regulators' warnings on bank-fintech partnerships: how they can benefit the industry

Scott Hamilton Contributing Editor at Finextra Research

US regulators' warnings on bank-fintech partnerships: how they can benefit the industry

There’s a right way and a wrong way to build and manage bank-fintech business relationships. Well, make that many ways to do both, as there are several critically important factors and practices that need to be considered (and monitored) in every such relationship, no matter its specific goals and structure. Over the past several weeks, vexing exa...

01 August 2024 /regulation

Níamh Curran Senior Reporter at Finextra

Consumer Duty one year on

Today is Consumer Duty’s birthday! It is one year since the implementation of rules for open products and services. The Financial Conduct Authority (FCA), whose jurisdiction the legislation comes under, have taken this one year anniversary Consumer Duty as an opportunity to announce they will be attempting to relieve some of the burden financial fi...

31 July 2024 /regulation

US Elections 2024: Despite candidate whirlwind fiscal policies remain unclear

Scott Hamilton Contributing Editor at Finextra Research

US Elections 2024: Despite candidate whirlwind fiscal policies remain unclear

With the blockbuster news of US President Joe Biden’s withdrawal from candidacy for re-election on 21 July, the American political scene has been thrown into a veritable tornado of constant on and off-screen media and pundit posturing and unvalidated speculation on topics from A to Z. What has changed in terms of potential impacts to financial ser...

26 July 2024 /regulation

Hamish Monk Reporter at Finextra

Understanding consumer duty

With the UK’s Consumer Duty standard due to come into force this month, it is time for a recap on its objectives, how it is working to improve consumer protection for financial firms, and what can be expected from the annual board attestation on 31 July 2024. Good outcomes for customers Announced by the Financial Conduct Authority (FCA) in 2021 an...

23 July 2024 /regulation

Hamish Monk Reporter at Finextra

PSD3 use cases

In 2026 the existing second Payment Services Directive (PSD2) will formally be replaced by two new pieces of legislation: the first Payment Services Regulation (PSR1) and PSD3. The European Commission’s aim is to boost payments security and level the playing field between banks and payment initiators (PIs). With the transition period well underwa...

16 July 2024 /regulation

UK election 2024: What it means for fintech regulation

Chris Holmes Peer at House of Lords

UK election 2024: What it means for fintech regulation

We are days away from a general election and when the new government introduce their legislative agenda on 17th July, I hope it will include a new Smart Data Bill, Digital Assets Bill, National Payments Vision and, in case the government doesn’t introduce one, I will be bringing back my private members bill on regulating AI. Future of finance Num...

03 July 2024 /regulation

Long reads