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/regulation

NYDFS adopts guidance on AI use by insurance firms

Today, Department of Financial Services (“DFS”) Superintendent Adrienne A. Harris adopted guidance to protect consumers from unfair or unlawful discrimination by insurers using artificial intelligence.

/regulation

FE fundinfo finds only 15% of financial advisers across asset management currently use AI

New data from FE fundinfo, a leading financial data company connecting the asset management industry to distribution networks in the UK, Europe and Asia Pacific, reveals a significant uptake in technology among financial advisers, with 55% confirming they had increased spending on technology over the past year.

/regulation

BIS appoints Véronique Sani as secretary general

The Board of Directors of the Bank for International Settlements (BIS) today announced the appointment of Véronique Sani as Secretary General.

/regulation

Fave receives in-principle approval for MPI Licence from MAS

Fave Singapore, operating under the registered entity name Beeconomic Singapore Pte. Ltd. and part of the Pine Labs group today announced that it has received an in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) Licence to offer account issuance, merchant acquisition, and domestic money transfer services.

/regulation

Firms still have work to do to meet Consumer Duty obligations

A year on from the introduction of the FCA’s Consumer Duty (CD) obligations for financial services firms, as many as two-fifths of customers have not noticed any changes to their treatment, according to research from engagement, data and customer journey platform Moneyhub.

/regulation

Abaxx Exchange turns to Eventus for market surveillance

Eventus, a leading provider of comprehensive, at-scale trade surveillance software, and Abaxx Technologies, a financial software and market infrastructure company and majority shareholder of Abaxx Singapore Pte Ltd. ("Abaxx Singapore"), the owner of Abaxx Commodity Exchange and Clearinghouse, announces that Abaxx Exchange has selected Eventus to provide the trade surveillance platform for the new marketplace.

/regulation

IDnow introduces two new eSignature products

IDnow, a leading identity verification platform provider in Europe, has launched two new e-signature solutions to the market.

/regulation

Basel Committee opens call for comments on management of third party risks

The Basel Committee on Banking Supervision today published a consultative document proposing Principles for the sound management of third-party risk in the banking sector.

/regulation

Business verification startup Niva emerges from stealth

Niva, a global business identity platform, has officially launched introducing an AI-powered solution designed to overcome the significant challenges of establishing trust in businesses internationally.

/regulation

GBG joins with Detected to launch dedicated Know Your Business process

GBG, the leading expert in global identity and location, today launches GBG Detected, an end-to-end Know Your Business (KYB) solution, to address the growing demand for more robust and reliable KYB processes.

/regulation

Boerse Stuttgart Group offers ESG data for cryptocurrencies

The EU's MiCA regulation sets transparency requirements for crypto asset service providers. They will be obliged to publish sustainability figures for the cryptocurrencies they offer.

/regulation

EBA issues 'travel rule' guidelines

The European Banking Authority (EBA) issued today new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.

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