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Latest Results from /regulation

Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

US regulators' warnings on bank-fintech partnerships: how they can benefit the industry

There’s a right way and a wrong way to build and manage bank-fintech business relationships. Well, make that many ways to do both, as there are several critically important factors and practices that need to be considered (and monitored) in every such relationship, no matter its specific goals and structure. Over the past several weeks, vexing exa...

/regulation

Níamh Curran

Níamh Curran Senior Reporter at Finextra

Consumer Duty one year on

Today is Consumer Duty’s birthday! It is one year since the implementation of rules for open products and services. The Financial Conduct Authority (FCA), whose jurisdiction the legislation comes under, have taken this one year anniversary Consumer Duty as an opportunity to announce they will be attempting to relieve some of the burden financial fi...

/regulation

Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

US Elections 2024: Despite candidate whirlwind fiscal policies remain unclear

With the blockbuster news of US President Joe Biden’s withdrawal from candidacy for re-election on 21 July, the American political scene has been thrown into a veritable tornado of constant on and off-screen media and pundit posturing and unvalidated speculation on topics from A to Z. What has changed in terms of potential impacts to financial ser...

/regulation

Hamish Monk

Hamish Monk Reporter at Finextra

Understanding consumer duty

With the UK’s Consumer Duty standard due to come into force this month, it is time for a recap on its objectives, how it is working to improve consumer protection for financial firms, and what can be expected from the annual board attestation on 31 July 2024. Good outcomes for customers Announced by the Financial Conduct Authority (FCA) in 2021 an...

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Hamish Monk

Hamish Monk Reporter at Finextra

PSD3 use cases

In 2026 the existing second Payment Services Directive (PSD2) will formally be replaced by two new pieces of legislation: the first Payment Services Regulation (PSR1) and PSD3. The European Commission’s aim is to boost payments security and level the playing field between banks and payment initiators (PIs). With the transition period well underwa...

/regulation

Chris Holmes

Chris Holmes Peer at House of Lords

UK election 2024: What it means for fintech regulation

We are days away from a general election and when the new government introduce their legislative agenda on 17th July, I hope it will include a new Smart Data Bill, Digital Assets Bill, National Payments Vision and, in case the government doesn’t introduce one, I will be bringing back my private members bill on regulating AI. Future of finance Num...

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Níamh Curran

Níamh Curran Senior Reporter at Finextra

UK election 2024: What each party’s manifesto outlines for fintech

The countdown to the UK General Election is nearly up, with polling taking place this Thursday 4th July. With this in mind we decided to take another look at how each of the major parties’ manifestos addressed some of the key issues in fintech. Innovation Conservatives and Lib Dems have pledged to increase public spending on R&D. Tories said t...

/regulation

Ram Gopal

Ram Gopal Professor at University of Warwick

Generative AI will revolutionise the proptech sector

At the height of the coronavirus pandemic, tens of thousands of Britons found themselves racing against the clock to complete their home purchases, as a deadline loomed for the expiration of a property tax relief measure. Offering savings of up to £15,000, the relief had spurred a surge in transactions that overwhelmed estate agents, surveyors, an...

/regulation

Luke Scanlon

Luke Scanlon Head of Fintech Propositions at Pinsent Masons

Open finance and smart data: Where are we heading?

Two significant steps have been taken recently which are poised to move forward the discussion on the future of open finance and smart data in the financial services context. Those steps are the potential for finalisation of the Data Protection and Digital Information and (DPDI Bill) and the Joint Regulatory Oversight Committee (JROC) proposals fo...

/regulation

Gabriela Giannattasio

Gabriela Giannattasio VP EMEA at Veritran

What is DORA, and how can banks collaborate with tech providers to prepare for it?

This article was co-authored by Carlos Cordova Niewold, chief cyber resilience officer at Veritran. As financial transactions have increasingly moved to digital platforms, the banking sector has evolved into a technology-first ecosystem. Concurrently, the mass digitisation of financial services has led to an influx of technology startups with varyi...

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Chris Holmes

Chris Holmes Peer at House of Lords

What does the General Election mean for Data Protection, Digital Markets, and AI Regulation Bills?

I started the year writing about three important new laws that were with us in the House of Lords: the Data Protection Bill, the Digital Markets Bill, and my own AI (Regulation) Bill. The Data Protection and Digital Information Bill covered many aspects of data protection law including enabling smart data/data sharing across government – key fo...

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Madhvi Mavadiya

Madhvi Mavadiya Head of Content at Finextra

UK Elections 2024: What did Labour and the Conservatives promise ahead of the election?

The UK will hold its first general election in five years on 4th July 2024, against the backdrop of the cost of living crisis, bank interest rates being cut, long NHS waiting lists, plans for asylum seekers and migrants to be deported to Rwanda, the Israel-Hamas war, the Russia-Ukraine war, and non-prioritisation of climate change mitigation. In...

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