Credit Suisse has been hit with a £147 million penalty by the Financial Conduct Authority, as part of a $475 million global resolution agreement, for serious financial crime due diligence failings related to loans worth over $1.3 billion, which the bank arranged for the Republic of Mozambique.
Source: FCA
Due to the coronavirus (Covid-19) pandemic, firms are already familiar with working in a remote environment and adapting their systems and controls.
Source: CapGemini
Payments are entering a new experience-driven era (Payments 4.X[1]), ushered in by an accelerated transformation timeline due to COVID-19 and the growing digital appetite of customers, according to the World Payments Report 2021 published today by Capgemini.
Source: Federal Reserve
The Federal Reserve Board on Monday announced that the Federal Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service.
Source: Fintech Australia
FinTech Australia has released a new tool for early-stage fintechs and global fintechs expanding into Australia, offering clear guidance on financial services licensing in Australia and which government bodies are responsible for managing them.
Source: Glue42
North Rock Capital, an investment management firm built upon a global multi-manager investment platform, has selected Glue42, the company that delivers integrated desktop experiences to financial institutions globally, to serve as the foundation to its next-generation trading and risk platform.
The Financial Conduct Authority is working with the Bank of England on a blockchain-based digital regulatory reporting initiative to tackle the growing costs of compliance checks.
European capital market participants are calling on supervisory authorities to remove regulatory barriers to cloud adoption, arguing that broad-brush diktats on portability and multi-cloud strategies would present significant challenges to implementation by financial firms.
