Fintech promises to revolutionise the financial sector, with efficiency, choice, and financial inclusion on the horizon. However, disruptive growth in finance needs to be supervised and regulated so risks are properly managed. That’s where regulatory sandboxes come in – they allow start-ups to trial innovations under the watchful eye of authorities.
The Indonesian Financial Services Authority (OJK) has published new regulations on Risk Management for Non-Bank Financial Institutions.
In May 2019 the European Banking Authority (EBA) adopted new rules regarding the Minimum Requirement for own funds and Eligible Liabilities (MREL) and the Total Loss Absorbing Capacity (TLAC).
Regulatory Technology, or RegTech, could help transform today’s regulatory landscape, drawing on similar advances as FinTech to improve the efficiency, utility and cost of supervision.
The Australian Prudential Regulation Authority (APRA), which oversees Australia’s financial sector, is planning to align its prudential standards for insurance companies with international insurance standards.
The Financial Stability Board (FSB) announced that the Global Legal Entity Identifier Foundation (GLEIF), responsible for the LEI, would begin overseeing the unique identifiers used to track over-the-counter (OTC) derivatives this week from 1 October.
This year has seen huge changes – from regulatory extensions and shifting deadlines to a wholesale shift in the way we work, Covid-19 has caused serious disruption. But what will regulation look like as the dust settles?
A recent European Commission (EC) consultation – designed to inform the new EU digital finance strategy – has been considering amendments to the EU regulatory framework in response to rapidly evolving financial-technology landscape.
In a recent speech Benoît Cœuré, Head of the Bank for International Settlements (BIS) Innovation Hub, asked the listener to imagine a world where regulators have access to big data sets of high granularity, diversity, and frequency.