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

Fintech Regulation Update: Preparing for a sustainable Lunar New Year

Madhvi Sonia Head of Content at Finextra

Fintech Regulation Update: Preparing for a sustainable Lunar New Year

Here’s the second edition of a new Finextra long read series summarising the latest regulatory updates impacting the financial services, technology or fintech industries, and how financial market participants should mind the gap between the regulations that have not fully caught up with the pace of innovation. Payments Lunar New Ye...

29 January 2024 /regulation

5 reasons why you should adopt ISO 20022 now

Nicolas Stuckens Head of ISO 20022 adoption and data quality at Swift

5 reasons why you should adopt ISO 20022 now

ISO 20022’s rich data is at the heart of achieving the industry’s ambition for instant and frictionless payments. It opens big benefits for firms that embrace the opportunity. Here are five reasons why you should adopt the standard today. ISO 20022 adoption marks a giant leap forward in the evolution of global payments. Its rich, structured data us...

22 January 2024 /regulation

Fintech Regulation Update: Mind the gap ahead of 2024

Madhvi Sonia Head of Content at Finextra

Fintech Regulation Update: Mind the gap ahead of 2024

Here’s the first edition of a new Finextra long read series summarising the latest regulatory updates impacting the financial services, technology or fintech industries, and how financial market participants should mind the gap between the regulations that have not fully caught up with the pace of innovation. Payments Payments s...

29 December 2023 /regulation

The transformative potential of the Data Protection and Digital Information Bill

Chris Holmes Peer at House of Lords

The transformative potential of the Data Protection and Digital Information Bill

If it’s all about the data, then the Data Protection and Digital Information Bill must matter, and it does. Having completed its initial Commons stages it will receive second reading in the House of Lords today (19th December 2023). I will be exploring the vast opportunities afforded by the bill – as well as questioning the government on some of t...

19 December 2023 /regulation

Understanding the UK High Court’s AI patentability ‘Holy Grail’ ruling

Paige McNamee

Understanding the UK High Court’s AI patentability ‘Holy Grail’ ruling

The English High Court today handed down a decision which promises to shape the patentability of key aspects of AI technology. Overruling an earlier decision of the UK Patent Office (UKIPO), the High Court ruled that Emotional Perception AI Limited (EPAI), a subsidiary of AI Venture Studio Time Machine Capital Squared (TMC2), could patent a novel t...

23 November 2023 /regulation /ai

2023 APP fraud trends and changing liability at a glance

Dominique Dierks Content Manager at Finextra

2023 APP fraud trends and changing liability at a glance

APP fraud has been an increasing concern for both banks and customers. While consumer education and fraud prevention are being prioritised by financial institutions, regulators have been looking at the question of liability. The new PSR directive on APP fraud reimbursements highlights a historic change in the way fraud liability is handled. This a...

17 November 2023 /regulation

Paige McNamee

Understanding the EU’s DORA framework

The Digital Operational Resilience Act (DORA) was designed to address the potential systemic and concentration risks faced by the financial services sector, due largely to its close reliance on third party providers (TPPs). DORA requires entities to follow and implement protection, detection, containment, recovery, and repair focused rules to prev...

14 November 2023 /regulation

Dominique Dierks Content Manager at Finextra

Understanding ISO 20022

Instant and cross border payments are high on the list of priorities for businesses and authorities worldwide, yet interoperability and integration between different clearing systems has been a challenge hindering meaningful progression. That’s why ISO 20022 will be a game changer once it becomes an official messaging standard. Yet for novices, t...

10 November 2023 /regulation

How net zero frameworks can be guided by national policy

Sehrish Alikhan Reporter at Finextra

How net zero frameworks can be guided by national policy

ESG and broader financial sustainability efforts have been major industry trends in the financial services sector in the last few years, with an increasing number of financial institutions adapting to ESG standards and implementing sustainable objectives to maintain transparency and accountability as climate change continues to wreak havoc on the ...

08 November 2023 /regulation

What is the EU AI Act? Understanding Europe’s first regulation on artificial intelligence

Dominique Dierks Content Manager at Finextra

What is the EU AI Act? Understanding Europe’s first regulation on artificial intelligence

Artificial intelligence has rapidly evolved over the last couple of decades. Yet while AI innovation and adoption offers numerous benefits, it has so far been largely unregulated. This is about to change as the European Commission presses on with the EU AI Act. Signifying the first global piece of AI regulation, the proposed framework is drafted t...

03 November 2023 /regulation

Economic Crime and Corporate Transparency Act: What banks need to know

Níamh Curran Senior Reporter at Finextra

Economic Crime and Corporate Transparency Act: What banks need to know

The Economic Crime and Corporate Transparency Act (ECCTA) received royal assent last week and affects the way financial institutions manage economic crime. The bill is part of the UK Government’s wider economic crime plan, which was detailed earlier this year by MP Suella Braverman. The bill aims to limit the “dirty” money coming into the UK marke...

02 November 2023 /regulation

Why Biden’s Executive Order on AI signals increased scrutiny on AI policy, business and regulation

Scott Hamilton Contributing Editor at Finextra Research

Why Biden’s Executive Order on AI signals increased scrutiny on AI policy, business and regulation

US President Joe Biden’s Executive Order on Artificial Intelligence (AI), introduced on the 30th of October, recommends wide parameters be applied to the management of this fast-emerging technology. Though the order itself has no real ‘teeth,’ or legal enforcement power, it highlights several areas where the chief executive and his cabinet believe...

01 November 2023 /regulation /ai

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