Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: FinTech

FINRA Seeks Comment on Fintech Innovation in Broker-Dealer Industry

Posted in Broker-Dealer
On July 30, the Financial Industry Regulatory Authority (FINRA) issued a Special Notice requesting comment on how to continue to foster financial technology (fintech) innovation in the financial services industry. In particular, to support its mission of investor protection and market integrity, FINRA is seeking comment from market participants on how FINRA rules or administrative… Continue Reading

ECB Finalizes General Guide and FinTech Guide on Bank Licensing Applications

Posted in EU Developments, Financial Markets
On March 23, the European Central Bank (ECB) published two guides (together, Guides): a guide to assessing license applications (General Licence Application Guide) which covers the general application process and the assessment requirements regarding, for example, governance, risk management, capital; and a guide to assessing financial technology (FinTech) credit institution license applications (FinTech Licence Application… Continue Reading

UK Government Launches Fintech Sector Strategy

Posted in Digital Assets and Virtual Currencies, Financial Markets, UK Developments
On March 22, the UK government held its second annual International Fintech Conference. The Conference forms part of the UK’s plans to maintain its world leading position in technology-enabled innovation in financial services (FinTech). The Conference follows the launch of the European Commission’s FinTech Action Plan, further details of which are available in the Corporate… Continue Reading

European Commission Publishes FinTech Action Plan

Posted in Digital Assets and Virtual Currencies, EU Developments
On March 8, the European Commission issued a press release unveiling a 23-step action plan on how to harness the opportunities presented by technology-enabled innovation in financial services (FinTech). The European Commission identifies two goals: (1) capitalizing on fast-moving progress in technology to improve the European Union’s economy, and (2) incentivizing a more competitive and… Continue Reading

CFTC and UK Financial Conduct Authority Sign Cooperation Arrangement on Financial Technology Innovation

Posted in CFTC, Digital Assets and Virtual Currencies, UK Developments
On February 19, the Commodity Futures Trading Commission and the UK Financial Conduct Authority (FCA) signed the “Cooperation Arrangement on Financial Technology Innovation,” which memorializes the intention of the CFTC and FCA to collaborate and support their respective financial technology (FinTech) initiatives—LabCFTC and FCA Innovate. The arrangement intends to support these FinTech initiatives through an… Continue Reading

FCA and CFTC Enter Into Cooperation Agreement on FinTech

Posted in CFTC, Digital Assets and Virtual Currencies, UK Developments
On February 19, the UK’s Financial Conduct Authority (FCA) and the United States Commodity Futures Trading Commission (CFTC) (collectively the Regulators) published a press release announcing that they have signed a Cooperation Agreement on the same date with each other on financial technology (FinTech) innovation.… Continue Reading

OCC Issues FAQs on Managing Third-Party Relationships

Posted in Banking
On June 7, the Office of the Comptroller of the Currency (OCC) issued frequently asked questions (FAQs) to supplement OCC Bulletin 2013-29, “Third-Party Relationships: Risk Management Guidance,” which was originally issued on October 30, 2013. These FAQs address questions from national banks and federal savings associations. The FAQs and underlying OCC Bulletin 2013-29 apply to… Continue Reading

CFTC Launches LabCFTC as Major FinTech Initiative

Posted in CFTC
On May 17, the Commodity Futures Trading Commission announced the creation of LabCFTC, a new initiative aimed at promoting responsible FinTech innovation to improve the quality, resiliency, and competitiveness of the markets the CFTC oversees. The core components of LabCFTC are: (1) GuidePoint, which will serve as a dedicated point of contact for FinTech innovators… Continue Reading

ESMA Official Gives Speech on FinTech

Posted in EU Developments, Financial Markets
On September 27, Patrick Armstrong, a senior risk analysis officer in the Innovation and Products Team of the European Securities and Markets Authority (ESMA), delivered a speech discussing regulatory opportunities and challenges for financial technology (FinTech) in the European Union. Mr. Armstrong covered a broad range of topics in relation to FinTech, including: (1) the… Continue Reading