Global Financial Regulatory Blog

Tag Archives: Data Protection

Monetary Authority of Singapore Proposes Stricter Identity Verification Requirements

The proposal would require financial institutions to use certain categories of information for non-face-to-face verification before undertaking transactions or requests. By Farhana Sharmeen and Gen Huong Tan In November 2020, the Monetary Authority of Singapore (the MAS) published a consultation paper proposing to issue a Notice on Identity Verification (the Notice) that would require financial … Continue Reading

Financial Institutions and the Cloud: How to Navigate an Evolving Regulatory Landscape

Insights from Latham’s flagship event: Managing the risk and promise of digitisation in financial services. By Fiona Maclean, Stuart Davis, and Alistair Wye In a bid to keep pace with rapid advances in cloud adoption across financial services, regulators have published a raft of new guidance in the past year. Most recently, the European Insurance … Continue Reading

GDPR & PSD2: Squaring the Circle

GDPR and PSD2 are two legal initialisms that have both generated a great deal of press coverage in recent months, but they are seldom considered together. By Christian F. McDermott, Calum Docherty and Brett Carr There were around 122 billion non-cash payments in the European Union (EU) in 2016, with card payments accounting for 49% … Continue Reading

FCA Speaks Out on the Ethics of Big Data

FCA Chair hints that new regulation addressing data ethics in the FinTech space may be on the horizon. By Nicola Higgs, Fiona Maclean and Terese Saplys Will societies of the future be ruled by algocracy, in which algorithms decide how humans are governed? Charles Randell, Chair of the Financial Conduct Authority (FCA) and Payment Systems … Continue Reading
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