Regulation & Compliance

Singapore regulator could welcome ICOs to sandbox

Singapore’s financial regulator would consider trialling some initial coin offerings (ICOs) in a regulatory sandbox, if such fundraising efforts are by companies focused on new technology that will improve the efficiency of capital markets. The Monetary Authority of Singapore (MAS) Chief Fintech Officer, Sopnendu Mohanty, said at the Singapore Fintech Festival earlier this week that »

Consultation period on PSD2 closes

Today marks a pivotal moment in banks’ and payment providers’ PSD2 preparations as the European Banking Authority (EBA) closes its consultation period on fraud reporting responsibilities. Increased anti-fraud mechanisms under PSD2 mean that banks and payment providers will need to ensure that high-level fraud reporting is undertaken. The new rules will mean that firms will »

Robots in finance bring new risks to stability, regulators warn

A study published by the Financial Stability Board (FSB), a panel of regulators that includes the U.S. Federal Reserve and European Central Bank, has revealed that the financial industry’s rush to adopt AI threatens to inject risks into the financial system and “amplify financial shocks”. The FSB, headed by Bank of England Governor Mark Carney, »

New rules to enhance Australia’s regulatory sandbox

Under proposed changes to Australian legislation, businesses will be able to test new and innovative financial technology products and services in an “enhanced regulatory sandbox”, the Australian Treasury announced last week. Consultation on the draft legislation is now open, and will remain so until 3 November 2017. Plans for the legislative reforms were announced in »

SQS results for H1 hit by banking client loss

SQS results for H1 hit by banking client loss

SQS, the Cologne and London-listed software testing service provider, revealed on September 13 that the loss of a major banking client had contributed to the a decrease in revenues for the first half of 2017. The lost contract was worth €7.0m, SQS said, leading to a like-for-like revenue decrease of 3.9% to €160.1m, compared to »

Caribbean-based insurance providers, Advantage, choose Graphite GTC platform for software improvement

The Graphite GTC platform serves business owners in risk management and financial planning and says its tools and technology enable the development of large-scale software projects and applications. Advantage said it will use the no-code development platform to build business processes related to insurance and data management. It said the GTC platform will develop more »

Equifax’s Historic Hack May Have Exposed Almost Half of U.S.

Equifax’s Historic Hack May Have Exposed Almost Half of U.S.

Hackers exploited a website application to access names, addresses, Social Security numbers and some driver’s license numbers of potentially 143 million consumers, Equifax said Thursday in a statement. The incident — which drove down shares in after-hours trading — is a stark reminder of the risk of consumers’ personal data being exposed online, security experts »

Deutsche Börse, Illuminate invest $5 million in startup RegTek.Solutions

Illuminate Financial Management and Deutsche Börse together have provided RegTek.Solutions, a provider and specialist in global regulatory compliance software for trade and transaction reporting, with a US$5 million Series A funding round investment. New York-based startup RegTek.Solutions was launched earlier this year by Risk Focus a risk and regulatory services firm. It markets compliance softw... »

Implementation Of MiFID II Testing Requirements

Implementation Of MiFID II Testing Requirements

Article by Matthias Burghardt, Head of Xitaro Exchange System Development, Boerse Stuttgart Boerse Stuttgart is approaching the last quarter of a two-year Markets in Financial Instruments Directive (MiFID) II project which is dominated by development and testing activities. MiFID II requires trading venues and investment firms to implement substantial changes in existing processes and technology. »

Announcing the QA Financial European Software and App Awards for 2017

Announcing the QA Financial European Software and App Awards for 2017

We are delighted to announce the winners of our 2017 European Software and App Awards. In each case, they have demonstrated innovation and excellence in response to the key challenges facing financial firms: increasing competition, increasing regulation and the increasing complexity and scale of technology requirements. THE WINNERS (Click for links to articles) Overall winner: »

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