On October 18, 2018, the U.S. Securities and Exchange Commission (SEC) announced the launch of its Strategic Hub for Innovation and Financial Technology (FinHub), which is to continue the work...
A U.S. Treasury official has said legal reforms aimed at helping money transfer firms affected by de-risking are highly unlikely, despite legislative efforts in Europe to tackle the issue.
Five federal agencies, including the U.S. Department of the Treasury’s Financial Crimes Enforcement Network, will allow credit unions and community banks to share resources to improve compliance...
The U.S.’ fearsome federal tax authority plans to bring in hundreds of new special agents to help tackle the growing use of cryptocurrency in money laundering and tax crimes.
Authorities in the U.S. have proposed the construction of a new national faster payments system, but have admitted it could take years to be fully developed and risks fracturing the existing third...
Danske Bank is set to face criminal investigation in the United States, as the Department of Justice has formally requested information from the Danish bank in connection with the flow of illicit...
On October 3, 2018, the Federal Reserve launched a public consultation aimed at obtaining feedback on potential actions to be implemented to facilitate real-time interbank settlement of faster...
After nearly a year under temporary leadership, the U.S.’ top consumer watchdog for financial services appears set to gain a new permanent chief, following a June nomination from President Donald...
European authorities have announced that a new payment system will be established to “facilitate legitimate financial transactions with Iran”, after the US reinstated its sanctions programme...
U.S. financial watchdogs have quelled industry concerns that agencies use non-binding rules to fuel enforcement action, downplaying the legal weight of supervisory guidance they issue.
On September 13, 2018, the Monetary Authority of Singapore (MAS) and the US Commodity Futures Trading Commission (CFTC) strengthened their ties in the area of fintech by signing a agreement to...
On September 11, 2018, the Financial Crimes Enforcement Network (FinCEN) published Notice 83 FR 46015, which is addressed to certain financial institutions, including banks, and seeks comments on...
Although U.S. federal authorities have received industry praise for espousing a hands-off approach to open banking, signs are emerging that consumers may prefer lawmakers and regulators to play a...
German and French authorities are planning to build a separate payments channel for companies who want to keep their funds safe from the long arm of US sanctions, but their ambitions for financial...
On August 22, 2018, the Financial Crimes Enforcement Network (FinCEN) released two notices requesting comments on the renewal without change of information collection in existing regulations...
U.S. authorities have taken credit for initiating Latvia’s overhaul of its approach to financial crime, claiming the success of the American sanctions regime against Russia. 

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