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SteelEye Partners with TeleMessage to Solve the Mobile Communications Conundrum

Recent regulations, including MiFID II, have introduced highly prescriptive rules about the recording, storage and access requirements of voice and electronic communications relating to financial dealings. With all relevant telephone conversations and electronic communications now required to be recorded – including those which take place on mobile phones – surveillance technology is not only a…

Are You Keeping Up With The Regulator?

By Dr Bimal Roy Bhanu, Group CEO at Ai XPRT. Not many things in life are certain, but in the financial services industry it’s obvious to all participants that regulators are continually tightening the national and international governance, risk and compliance requirements. The ultimate aim for firms in 2020 is to stay one step ahead…

Simplifying Compliance Tracking with User Behaviour Analytics

By James Wooster, COO, Glue42. Spending IT budget on compliance solutions is never satisfying. While the impact of fines is easy to measure, the uncertainty of the risk means that other business cases always look more attractive. The scope of MiFID II and CAT compliance has placed additional burdens on financial institutions as both require…

ComplySci Launches London Office

Automated compliance management solutions provider ComplySci has expanded its global presence with a new London office, housing 13 full-time staff led by Kyri Yiannakis, Managing Director and Head of EMEA. The move follows the firm’s October 2019 expansion into a new 18,000 square foot headquarters in New York. ComplySci is backed by Vista Equity Partners, a specialist…

FSB To Focus on RegTech in 2020

International financial services regulator the Financial Stability Board (FSB) has made a commitment to address the use of RegTech and SupTech (supervisory technology) in its 2020 work programme, released this week. The watchdog will continue to monitor financial innovation developments and assess their potential implications for financial stability. Complementing the recent report on BigTech in…

Expert Group Urges EU Regulatory Reform to Encourage Fintech Innovation

The European Commission Expert Group on Regulatory Obstacles to Financial Innovation has published its long-awaited report on how to improve and strengthen the regional FinTech landscape and encourage greater investment and innovation, along with ending regulatory fragmentation and establishing a more robust regulatory framework.   Made up of industry experts, financial institutions, academics and lawyers,…

FSB Weighs In On Risks Inherent In Cloud Adoption For Financial Service

The rapid adoption of cloud computing and data services by financial institutions could raise new implications for financial stability, warns global regulatory body the Financial Stability Board (FSB) – including a lack of transparency when it comes to legal and regulatory compliance. A new report from the FSB released this week highlights potential issues for…

Broadridge Uses Blockchain to Address European SRD II Compliance

With the Shareholder Rights Directive II (SRD II) regulatory compliance deadline fast approaching, intermediaries supporting institutional and/or retail clients face one of the biggest changes in European corporate governance in many years. And according to Broadridge, many businesses are not yet ready for the transition – which is expected to place considerable pressure both on…

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…

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…