FINTECH REGULATION – WHAT’S COMING UP?

Fintech is a rapidly developing area where developments in the regulatory regime are ongoing. We have created a timeline of key UK and European regulatory milestones to watch out for over the coming months and years. Read more

COVID-19: Pressure Points: Impact on UK criminal investigations & justice system

COVID-19 and the related lockdown restrictions are placing the UK criminal justice system under considerable pressure. In this briefing we discuss a number of COVID-19 related measures impacting the investigation and prosecution of economic crime, and the criminal justice system more broadly.  We also touch on fraud risks and financial crime compliance considerations arising from the COVID-19 pandemic, which we will discuss more fully in a future briefing. Read more

Cryptoassets and DLT: global stablecoins v CBDCs and the potential for private DLT to connect public payment systems

This article has also been published by the International Financial Law Review (IFLR). The payments sector is one of the fastest growing sectors within the financial services industry. It is underpinned by consumers’ widespread move away from physical cash and towards electronic payments. Whether consumers are using payment cards or apps, the result has been … Read more

COVID-19: Governance: FCA and PRA publish statements on their expectations for regulated firms under SMCR (UK)

The PRA and FCA have published two statements setting out their expectations on UK-regulated firms under the Senior Managers and Certification Regime (SMCR). A joint statement from the PRA and FCA has been published for dual-regulated firms (the Joint Statement), while the FCA have separately published a statement for solo-regulated firms (the FCA Statement). There … Read more

Fintech 2020 – Trends and Development (UK)

The UK’s fintech sector is well established, with many of the best-known businesses having reached the advanced age of five – or even ten – years old. They boast significant revenues, and several of the consumer-facing fintechs have attracted millions of customers. Read more

Malaysia joins digital banking revolution – Bank Negara Malaysia issues Exposure Draft on Licensing Framework for Digital Banks

On 27 December 2019, Bank Negara Malaysia (BNM) issued an exposure draft on the Licensing Framework for Digital Banks (Exposure Draft). According to BNM, up to five licences may be issued to applicants to establish digital banks that conduct either conventional or Islamic banking business in Malaysia. BNM’s move to promote the development of digital banks is in line with the direction taken by regulators in Singapore and Hong Kong, which have each issued similar licensing frameworks in the past two years. Read more