RegTech Insight Blogs The latest content from across the platform
US Banks Unprepared for California Consumer Privacy Act – What Can They Do?
By Edel Brophy, Global Regulatory Manager, Fenergo. Keeping up with compliance regulations across multiple jurisdictions can be tricky for financial institutions. Hugely ambitious, the ratification of the state law the California Consumer Privacy Act (CCPA) is one of the toughest challenges they’ve faced. With just one month to go, it’s therefore concerning that one third…
Singapore’s Tookitaki Drives Forward AI in Anti-Money Laundering
Enterprise software specialist Tookitaki closed its Series A Funding Round at $19.2 million last week, following a further $11.7 million injected in November. The latest round was co-led by venture funds Viola Fintech and SIG Asia Investment, along with Nomura Incubation Investment. They join existing investors including Illuminate Financial, Jungle Ventures and SEEDs Capital, an…
As Clock Ticks on SM&CR, FCA Looks to Extend Coverage to Benchmark Administrators
There is only a week to go until the final SM&CR deadline on December 9, by which time all remaining FCA-regulated firms (including asset managers, brokers and trading firms) will have to comply with the new rules – and start submitting data to the new FCA Directory. But as crunch time catches up with the…
Saxo Bank Japan Migrates from Legacy Ledger to Torstone Cloud Solution
Saxo Bank Japan is replacing its legal ledger legacy system with Torstone Technology’s Inferno cloud-based solution and has gone live with the first phase of migration. The bank is making the replacement to support regulatory reporting on the cloud for existing and new equity business. Using Inferno, Saxo Bank Japan is able to reduce operational…
Regulatory Data Use Cases for Privacy-Enhancing Technology
Privacy-enhancing technology (PET) is emerging as a new way for financial services firms to share and compare confidential data without compromising competitiveness or data privacy compliance. Several new use cases are emerging. Improving MiFID II reference data For example, a new industry initiative that uses advanced information security techniques looks set to enable European and…
Introducing the Alliance for Innovative Regulation: Driving Change through Collaboration
Last month saw the official launch of a new model designed to connect fintech leaders, financial institutions, regulatory agencies—and their innovation teams— with the goal of modernising the financial regulatory system. With $2 million already raised from a range of FinTech entrepreneurs and ventures capital firms, the Alliance for Innovative Regulation (AIR) is off to…
Itiviti Partners Capital Market Solutions for Reporting to the CAT
Itiviti has partnered Capital Market Solutions (CMS), a consultancy and solutions developer, to provide a regulatory reporting solution for the SEC Rule 613 Consolidated Audit Trail (CAT). The solution is based on CMS’s Regulatory Surveillance & Monitoring System (RSMS) and is timely in following SEC issuance, after several delays, of a schedule for CAT implementation…
Elliptic Introduces AML Solution for XRP
Crypto compliance specialist Elliptic has a mission: to prevent, detect and pursue criminal activity in cryptocurrencies. In such a rapidly developing sector and with opacity around regulation across jurisdictions, transparency and accountability are vital in tracking crypto transactions – and it is an area in which RegTech is fast spreading its wings. The firm provides…
EastNets Partners with Refinitiv for AML, Compliance Solution
EastNets, a provider of automated compliance and payment solutions, today announced a tie-up with financial markets data and infrastructure giant Refinitiv, which will provide enhanced automated access to software and data to enable real-time risk management and enhanced compliance capabilities. The partnership will deliver an enhanced integration of Refinitiv’s Risk Intelligence data within EastNets’ cutting-edge…
5AMLD is Coming – But UBO Reporting Requirements Remain Unclear
The EU’s Fifth Anti-Money Laundering Directive (5AMLD) is on the way, with the deadline of January 10, 2020 fast approaching. The regulation lays out substantially upgraded requirements for the data that companies must hold – including “adequate, accurate and current information” on beneficial ownership – and there are fears that the industry is not yet…