Admittedly, one for the financial regulators! Those who fail to learn from history are condemned to repeat it… and this is certainly true in relation to financial crises.
What new challenges emerge from bigtech participation in financial services, and how should policy makers and regulators tackle them? Those are the questions considered in a new brief from the Bank for International Settlements (BIS) Financial Stability institute (FSI), ‘Big techs in finance: regulatory approaches and policy options.’
One for the technologically-minded among our readers? Recognising regtech’s role in revolutionising risk management and compliance, The HKMA (Hong Kong Monetary Authority) has launched its ‘Global Regtech Challenge.’
The UK’s Department for Business, Energy & Industrial Strategy (BEIS) has published its long-awaited white paper on wide-ranging reforms to the country’s corporate reporting, audit and governance regime, and launched a consultation on the proposals.
The World Economic Forum (WEF), in collaboration with the Shanghai Advanced Institute of Finance (SAIF) has published a new white paper, ‘At a Crossroads: The Next Chapter for FinTech in China.’
The European Securities and Markets Authority (ESMA) has launched a consultation on draft technical standards on crowdfunding under the new European crowdfunding service providers regulation (ECSPR).
The Financial Stability Institute (FSI) has published an Occasional Paper by Fernando Restoy on how regulation should encourage fair competition between traditional banks and new fintech and big tech players.
Could the next financial crisis come from the non-bank sector? The structure of finance is changing, and with vast and increasing amounts of financial intermediation being done by entities other than banks, often less tightly regulated, this is an important area for monitoring, and disclosure efforts as well as potential regulation. The Financial Stability Board […]
Amid the chaos that Covid-19 has wrought on the financial sector, it has also created an urgency to prioritise and deploy regulatory innovation and fintech initiatives.