On October 10, 2022, the European Parliament Committee on Economic and Monetary Affairs (ECON) endorsed the approved text for the Markets in Crypto-assets regulation (MiCA). While the bill’s main provisions were agreed upon in June, the approved text sets out […]
The Australian government will formally respond to a report advising banks of their responsibility to provide services to virtual currency trading platforms, FinTechs, and remittance providers. Published in August 2022, the report aims to address de-banking in these industries and […]
Singapore is often rated as the top location outside of Silicon Valley for technology innovation and disruption. As a result, it has become a thriving hub for FinTechs. This guide explores how firms operating in Singapore can comply with the city-state’s AML/CFT regulations.
Australia has one of the largest economies in the Asia Pacific, and hosts thousands of international businesses, including a diverse community of FinTech service providers. From 2017 to 2021, the number of Australian FinTechs doubled to around 800, contributing to […]
On September 16, 2022, the White House published a fact sheet outlining a new framework and policy recommendations for the responsible development of digital assets. Pursuant to Executive Order (EO) 14067 from March this year, the first of its kind […]
As a long-term member of the Financial Action Task Force (FATF), Australia’s anti-money laundering and combatting the financing of terrorism (AML/CFT) regulatory framework seeks to align with the recommendations laid out by the agency.
All financial institutions that operate in the UK must be authorized by the Financial Conduct Authority (FCA). During the authorization process, financial service providers must ensure they are seeking the correct permissions for their business model – since those permissions […]
Despite the war in Ukraine and the ongoing pandemic, the EU has other pressing policy issues on its collective mind in 2022, of which AML/CFT reform is amongst the most important.
As FinTechs grow and acquire more customers, their AML/CTF programs must also mature. The firms best set up for success are those with scalable solutions and a sound understanding of AUSTRAC’s expectations of the firms it regulates. This guide provides hands-on tips and best practices for any FinTech looking to scale in Australia.
Hong Kong’s government has set out amendments to its Anti-Money Laundering and Counter-Terrorist Financing Ordinance, including a virtual asset service provider (VASP) licensing regime. The government is also launching a registration program for dealers in precious metals and stones (DPMS). […]
As financial crime evolves, regulators and financial institutions alike strive to refine their risk-based approach to AML. The vast amounts of data involved in AML compliance and the increasing complexity of criminal methodologies mean that financial institutions must constantly find […]
For financial institutions looking to become directly authorized as investment firms by the Financial Conduct Authority (FCA), it can be difficult to know exactly which permissions are necessary to apply for. Understand the process and uncover which permissions investment firms need to apply for here.
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