Regulatory Developments

INC RATING’S CRA REGISTRATION WITHDRAWN

INC RATING’S CRA REGISTRATION WITHDRAWN Thursday 26 November 2020 10:43 The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today withdrawn the credit rating agency (CRA) registration of INC Rating Sp. z o.o. The withdrawal decision follows the official notification sent to ESMA by INC Rating Sp. z o.o on 28 October … Read more

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ESMA Newsletter – Nº18

ESMA Newsletter – Nº18 Wednesday 25 November 2020 16:01 Welcome to the 18th edition of ESMA’s newsletter. Since our last newsletter, key publications have been ESMA’s report on Wirecard,  the Share Trading Obligation (STO) and the Derivatives Trading Obligation (DTO) statements and the first statistical report on EU securities markets. More, throughout the month we … Read more

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ESMA sets out its final view on the derivatives trading obligation (DTO)

ESMA sets out its final view on the derivatives trading obligation (DTO) Wednesday 25 November 2020 08:16 The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has released a public statement that clarifies the application of the European Union’s (EU) trading obligation for derivatives (DTO) following the end of the UK’s transition … Read more

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ESAs propose to adapt the EMIR implementation timelines for intragroup transactions, equity options and novations to EU counterparties

ESAs propose to adapt the EMIR implementation timelines for intragroup transactions, equity options and novations to EU counterparties Monday 23 November 2020 15:40 The European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA), the European Supervisory Authorities (ESAs), have today published a final report … Read more

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ESMA publishes translations for Guidelines on enforcement of financial information

ESMA publishes translations for Guidelines on enforcement of financial information Monday 23 November 2020 14:44 The European Securities and Markets Authority (ESMA) has issued today the official translations of its guidelines on enforcement of financial information​. National Competent Authorities (NCAs) to which these Guidelines apply must notify ESMA whether they comply or intend to comply … Read more

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Cybersecurity, Data and AML/Sanctions

Online Lender IN Financial’s Cash-IN-Asia Unit Secures $3.7 Million+ via Round led by DeClout Ventures

Online lender IN Financial through its subsidiary Cash-IN-Asia has secured S$5 million (appr. $3.74 million) in capital via an investment round that was led by Singapore’s VC venture firm DeClout Ventures. IN Financial is a Singapore-headquartered financing platform that’s enhanced by artificial intelligence (AI) and… Read More The post Online Lender IN Financial’s Cash-IN-Asia Unit … Read more

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How to improve CX without sacrificing security

Social distancing has shifted staff to home working and prompted more widespread use of internet-based resources to deal with a surge in client contacts. This last point has been an ongoing trend for many years, particularly within retail banking, but it is now clear that as society becomes more comfortable with internet-based transactions, the whole … Read more

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Former top cybersecurity official says Trump firing by tweet was ‘not how I wanted to go out’

Christopher Krebs, the former top cybersecurity official, said President Donald Trump’s decision to unceremoniously fire him via tweet last week was “not how I wanted to go out.”

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Facebook’s AI is mistakenly banning some small business’ ads

New York-based businesswoman Ruth Harrigan usually sells her honey and beeswax products in souvenir shops. But with Covid-19 pausing tourism, she’s been almost entirely dependent on Facebook ads to drive online sales. On Nov. 11, this new financial lifeline was abruptly cut when the social media company blocked her HoneyGramz ad account for violating its policies. She … Read more

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The email security market is littered with false claims. How to fix it

Today’s crowded email security market has become littered with false claims. I can tell you that firsthand—the company I run competes in this crowded arena. (And as such, I have a financial stake in writing this article.) As a potential buyer, empty promises are incredibly confusing. As a vendor, they’re counterproductive and dishonest—it’s pretty unethical … Read more

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Crypto/Blockchain

Swiss Digital Asset Bank Sygnum Launches Blockchain Alternative to Stock Exchanges

Sygnum, a digital asset finance firm with a Swiss banking license, has launched what it says is a blockchain-based alternative to listing shares on a stock exchange. On Thursday, the company announced an “end-to-end tokenization solution,” comprising of both a primary market issuance platform called Desygnate, and SygnEx, a secondary market trading venue. The solution … Read more

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Coinbase CEO: Trump Administration May ‘Rush Out’ Burdensome Crypto Wallet Rules

Brian Armstrong is worried the Trump Administration is about to send the cryptocurrency industry a parting gift. The Coinbase CEO took to Twitter Wednesday night to blast the U.S. Treasury Department’s rumored plans to attempt to track owners of self-hosted cryptocurrency wallets with an onerous set of data-collection requirements. If the whispers are to be … Read more

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The Dark Future Where Payments Are Politicized and Bitcoin Wins

Satoshi Nakamoto intended Bitcoin to be used for online payments. But it never caught on as a mainstream payments option. The main hurdle to widespread adoption of bitcoin-as-cash is its wild, and potentially lucrative, price changes. This roller coaster problem isn’t going to disappear. Which means the only way for bitcoin payments to ever go … Read more

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[SPONSORED] 2nd Generation DEXs, Stablecoins and the Future of Capital Markets

Third generation blockchains and regulated stablecoins, such as USD Coin (USDC) are giving rise to the next generation of Decentralized Exchanges. Combined, this new market infrastructure offers market participants the holy grail — insanely fast, secure and global market infrastructure to trade anything without any counterparty risk. This new market infrastructure is giving birth to … Read more

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This Crypto Custody Breakthrough Will Bring Banks Closer to Digital Assets

Stealth-mode crypto custody specialist Shard X has claimed a breakthrough, being the first company to successfully run math-heavy, multi-party computation (MPC) on hardware security modules (HSMs). So why does this alphabet soup of security tech matter?  In summary, HSMs are a battle-tested way to store private keys, particularly popular in consumer products like Ledger and … Read more

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Banking, Finance and Investment

Thailand Is Now Home to 96 Fintech Startups including Crowdfunding, Insurtech, Remittance Payments Services: Report

During the past few years, the Fintech sector in Thailand has grown significantly. The country is now home to at least 96 Fintech startups. Thailand’s Fintech ecosystem includes companies and businesses operating in the digital payments space, blockchain or distributed ledger tech (DLT). There are… Read More The post Thailand Is Now Home to 96 … Read more

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Top 10 Fintech News Stories for the Week Ending November 28, 2020

I hope you all had a nice Thanksgiving. Even though it was a short week there were several really big fintech stories, just as many, if not more, than a regular week. Here are what I consider to be the top 10 most important fintech news stories of the past week. Justice Department Clears Intuit … Read more

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ACA invests $20m into Accelerex Holdings

Accelerax Holdings (Acelerax) based in Mauritius announced the signing of a new investment agreement with Africa Capital Alliance (“ACA”), a regional private equity firm. the Capital Alliance Private Equity IV (CAPE IV) plans to invest  $20 million into Accelerex where CAPE IV becomes a partner that holds three seats on the company’s board. Accelerex, is … Read more

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HSBC Debuts Open Payments Platform For eCommerce As Alternative To Debit, Credit

HSBC has launched its new HSBC Open Payments solution, which will enable companies to install alternatives to debit or credit for customers to pay for things, according to an emailed press release. The HSBC Open Payments application will let businesses connect their checkout pages with the customers’ online apps or app-based mobile platform. Then the … Read more

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Leading digital payments fintech startup Ukheshe acquires Otlio

Ukheshe has announced the acquisition of Otlio, a South African startup that provides mobile payment and banking solutions. Among Otlio’s clients is MasterCard South Africa, particularly their new QR payment service. This collaboration strengthens Ukheshe’s involvement with MasterCard from the time of the Mastercard Accelerate Programme that included Fintech Express and  Start Path. In the … Read more

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