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Regulatory Framework

Forrester Research Introduces Forrester’s 2016 Interactive Data Privacy Heat Map

To help security and risk professionals navigate the complex landscape of privacy laws around the world, Forrester created a data privacy heat map that highlights the data protection guidelines and practices for 54 different countries. It also covers other relevant issues like government surveillance, cross-border data transfers, and regulatory enforcement.  Due to the dynamic nature of data protection legislation, we ... Read More »

Contribution of Advanced Credit Reporting System to Financial Inclusion and Financial Stability

According to an age old maxim credit and credit reporting are intertwined.  Economic growth is reliant on a well-functioning credit system providing access to credit to individuals and businesses.  Access to credit however hinges on the availability of accurate, reliable and timely information.  Without such information there will be no economic growth. Ömer Kayhan Seyhun, Senior Specialist at the Central ... Read More »

China’s New Promises and Measures to Enhance IP Protection

At the end of November 2016, China issued a high-profile policy statement on protection of property rights (http://www.gov.cn/zhengce/2016-11/27/content_5138533.htm) in the joint name of the all-powerful Central Committee of the Communist Party of China (“CCCPC”, which is the actually ruling body of China under the leadership of the Politburo) and the State Council (the cabinet). The statement includes a section devoted ... Read More »

Forrester Research Brief: You Need an Action Plan for The GDPR

The General Data Protection Regulation Will Change The Way You Do Business in the EU.  Forrester Report by Enza Iannopollo published October 14, 2016 The EU General Data Protection Regulation (GDPR) will go into force on May 25, 2018. Every organization — regardless of its location — doing business with EU customers will need to make changes to its oversight, ... Read More »

Indian Credit Bureaus Lobby RBI to Mandate Greater Information Sharing

Ahead of the launch of payments banks, Indian credit bureaus (CICs) have urged the Reserve Bank of India (RBI) to ensure these new entrants in the banking space become members of credit bureaus and share data on performance of transactions. “Payments banks will not be into lending, but the transactions which they undertake will help understand borrowers. Therefore, we have ... Read More »

China Toughens Control of P2P Lending with new Regulations

China issued a regulation on this week to toughen its control of peer-to-peer lending companies, thus cracking down on illegal fundraising activities through such platforms and preventing financial risks. Jointly issued by the China Banking Regulatory Commission (CBRC) and three other ministries, the regulation emphasizes the role of P2P lending companies as financial information service intermediaries providing assessment and exchange ... Read More »

Blockchain: US Senators Seek Guidance from Consumer Financial Protection Bureau (CFPB) and Federal Reserve

Twenty-two US senators have sent a letter to senior government officials and the Federal Reserve requesting information about the regulation and oversight of virtual currencies and blockchain tech. In the letter dated 21st July, the US Senate Committee on Banking, Housing and Urban Affairs wrote that it is seeking to “better understand the way US regulators oversee FinTech and their relationships with federally ... Read More »

What is Regtech? Why is it becoming the Next Big Thing?

Heralded “the new FinTech” by Deloitte, “RegTech” has rapidly risen to prominence in 2015, from total obscurity. But what Regulatory Technology (RegTech) tech exactly is? And why is it becoming the next big thing? At risk of sounding too simple, RegTech is pretty much what is says on the tin: the use of new technology to facilitate the delivery of regulatory requirements. Or, ... Read More »

Russia: Anti-Money Laundering and Prevention of Fraudulent Financial Schemes

Russia’s Federal Financial Monitoring Service is an Important Guardian of Anti-Money Laundering and the Prevention of Fraudulent Financial Schemes The Federal Law No. 115-FZ of August 8, 2001 “On countering legalization of illegal earnings (money laundering) and financing of terrorism” is a key national law regulating the prevention, detection and suppression of activities related to illegal money circulation. The monitoring ... Read More »

FICO: EU’s General Data Protection Regulation Is Right to Be Tough

FICO’s Scott Zoldi is providing an outside looking in point of view European data privacy became global news in 2014, when a man in Spain sued Google for “the right to be forgotten,” or RTBF. (That lawsuit is still not over.) RTBF is part of the European Commission’s (EC) General Data Protection Regulation (GDPR), a data protection framework for the European ... Read More »

BREXIS Impact on UK Data Protection Legislation

The UK Information Commissioner’s Office (ICO) has published the following on Friday 24th, 2016: “The Data Protection Act remains the law of the land irrespective of the referendum result. “If the UK is not part of the EU, then upcoming EU reforms to data protection law would not directly apply to the UK. But if the UK wants to trade ... Read More »

The March of the Machines: Transforming Services & Professions

The world stands on the brink of a 4th industrial revolution, not just about manufacturing or automation but transforming services & professions. Rapid advances in a host of technologies, including artificial intelligence, 3-D printing, robotics, Big Data and data science, genetics, medical imaging and computer vision are combining to alter almost every profession and every industry in potentially radical ways. ... Read More »