Dear Members,

Welcome to the fifty seventh monthly newsletter designed to keep BIIA members informed of the significant developments on the policy dossiers being worked on in geographical territories that members operate in. To download the document, please click on this link: BIIA Monthly Regulatory Newletter 011121


In this month’s newsletter we report on regulatory developments across a wide range of topics including privacy, digital identity, digital currencies, artificial intelligence and anti-money laundering. As can be seen from this list of topics there continues to be a strong focus by regulators on ‘all things digital’ reflecting the significant development of the global digital economy.

A number of the topics we have covered in this month’s newsletter will be subjects that we will be discussing at the BIIA 2022 Biennial Conference that will be held in Singapore from May 23rd to 25th next year. The theme for our conference in 2022 is ‘The Customer Relationship in a Data-driven Digital World’ with a very strong focus as the title would suggest on the development of the digital economy and the increasing volume of data that is generated.

To find out more about the conference programme click here. Discussions on regulatory developments that are happening across the globe will be a key part of the event and we would encourage readers to add the dates for the event to their diaries and register to attend when the registration becomes available in the next couple of weeks.

We are keen to ensure that we cover as many relevant regulatory developments as we can in this newsletter so if you have any items you feel would be worth incorporating please do get in contact with Neil Munroe, Deputy Managing Director and Editor of the Regulatory Newsletter by email @

BIIA would like to thank its fellow industry association, ACCIS (the Association of Consumer Credit Information Suppliers), for allowing us to re-use certain information that they have published on regulatory developments within Europe. 

In this edition you will find:


  • Australia – Release of online privacy draft legislation and reform discussion paper
  • New Zealand – Introduction of new Digital Identity Bill
  • Saudi Arabia – Personal Data Protection Law published

Business Information

  • Australia – New director resignation laws preventing illegal Phoenixing
  • Ireland – Companies (Corporate Enforcement Authority) Bill 2021

Financial Services

  • China – Strict bans imposed on virtual currencies
  • UK – HM Treasury consults on Buy-Now-Pay-Later regulation
  • USA – Consumer Financial Protection Bureau (CFPB) Orders Tech Giants to turn over information on their Payment System Plans

Artificial Intelligence (AI)

  • UK – Government announces plan to regulate artificial intelligence

Anti-Money Laundering (AML)

  • Singapore – Monetary Authority (MAS) consults on Features & Legislative Framework of Digital Platform for FIs to Share Information for AML/CFT Purposes
  • UAE – Further strengthening of AML protections with creation of specialist AML court


More information on the latest regulatory developments from across the globe is available on the BIIA website in the Regulatory section

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To Request Permission to Publish Contact:  Neil Munroe at