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On July 19, 2018, the Financial Conduct Authority (FCA) published its annual and accounts report for 2017/18, highlighting the main work undertaken by the authority throughout this period.The...
The question of how banks will be able to distinguish valid third-party providers from those lacking the correct permissions under new European payments rules is approaching resolution through the...
An anticipated surge in licensing requests from payment firms has yet to materialise in Ireland, despite the introduction of the revised Payment Services Directive (PSD2) and looming shadow of Brexit.
The European Banking Authority (EBA) has published long-awaited final guidelines on fraud reporting by payment firms, unveiling numerous changes in response to industry concerns.
Campaigners have called on UK and EU regulators to address “market failures” across the payments sector, claiming that ineffective intervention has left card acceptance costs high and Visa and...
Banks will be responsible for assessing the validity of third-party service providers (TSPs) under Hong Kong’s incoming open banking regime, as the country’s regulator opts for bilateral agreements...
On July 16, 2018, the Qatar Central Bank (QCB), the Qatar Financial Markets Authority (QFMA) and the Qatar Financial Centre Regulatory Authority (QFCRA) issued comprehensive guidance in relation to...
On July 18, 2018, the Hong Kong Monetary Authority (HKMA) published the Open API Framework for the Hong Kong Banking Sector, which consists of a directional guide for the local banking industry to...
New EU rules on data protection have had unintended consequences for firms fighting transaction laundering and fraud, due to restrictions placed on a global database seen as a critical resource by...
The European Commission has indicated that amendments will likely be made to existing anti-money laundering (AML) laws so that third-party providers accessing account data are kept out of scope.
The chief of Australia’s consumer watchdog has stressed that open banking will not create a wild west for data access, amid growing public concern over misuse of personal information by businesses.
On June 15, 2018, the German Federal Financial Supervisory Authority (BaFin) released a study paper, which was prepared in cooperation with other stakeholders, on Big Data and Artificial...
The influential Berlin Group has announced plans to develop a “testing framework” for banks that hope to ensure their application programming interfaces (API) will gain the approval of regulators.
The financial services sector greeted the UK’s ambitious new stance on Brexit with dismay on Thursday, after the government retreated from plans to support ongoing market access through mutual...
Financial crime experts have called on the United States to use its presidency of the Financial Action Task Force (FATF) to bring measures countering the financing of weapons proliferation up to...
A French central bank working group has said banks that impose a “redirect”-based authentication model on third-party providers are not acting in breach of EU-level regulatory technical standards.

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