Regulatory

A new procedure for maintaining the Unified State Register of Legal Entities (EGRUL) and the Unified State Register of Sole Entrepreneurs (EGRIP) was approved by the order of the Ministry of Finance of the Russian Federation No.165N of 30.10.2017 came into effect on 1 March 2018.  The previous order of the Ministry of Finance No.25N of 18.02.2015 has been declared ... Read More »

The SEC closes the stable door after the horse has bolted. The U.S. Securities and Exchange Commission on Wednesday updated guidance to public companies on how and when they should disclose cyber security risks and breaches, including potential weaknesses that have not yet been targeted by hackers. The guidance also said company executives must not trade in a firm’s securities ... Read More »

Here comes 2018. And with the New Year, comes new risks—along with many of the same old risks, but a new perception of their importance or where they rank on the risk spectrum. As we move forward into the new year, let’s take a look at some of the emerging risks expected to affect our businesses and jobs—particularly those related ... Read More »

Two senators on proposed this week “massive and mandatory” fines for data breaches at Equifax Inc. and other credit reporting companies, starting at $100 for each consumer whose sensitive information is compromised. The bill from Sens. Elizabeth Warren (D-Mass.) and Mark Warner (D-Va.) would add a $50 fine for each additional piece of compromised personally identifiable information for each consumer. ... Read More »

In the second week of October, the RBI introduced stricter norms for PPIs, as per which users of mobile wallets had until the end of this year to convert to the full KYC format. In a new development, the country’s central banking institution is currently “looking into” requests for an extension of the deadline.  In the interim period, the RBI reportedly received ... Read More »

China and Australia‘s regulators have agreed to partner up on financial technology (fintech), a move that will give them oversight on new trends in each other‘s markets.  The Australian Securities and Investment Commission (ASIC) and China Securities Regulatory Commission (CSRC) said Monday that they would cooperate on the sharing of information related to emerging themes in the fintech sector. “Cooperation ... Read More »

The Monetary Authority of Singapore (MAS) rolled out a number of initiatives on Nov 14 as part of efforts to establish itself as a regional leader of fintech.  Speaking on the first day of conferences at this year’s Singapore Fintech Festival, Managing Director of MAS Ravi Menon said that the central bank will sign 16 cooperation agreements with other governments, ... Read More »

Australia is poised to sign a fintech deal with the UK to boost crosstalk in one of Britain’s fastest-growing industries, City A.M. can reveal. The Treasury is working on an agreement to aid co-operation on fintech between the regulatory authorities in the UK and Australia. Speaking at City & Financial Global’s trade conference yesterday, Alexander Downer, the Australian High Commissioner to ... Read More »

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 »

Thomson Reuters announced that it has signed an agreement with FiscalNote, a provider of legislative and regulatory analytics and insight. The agreement supplies predictive legislative analytics to Thomson Reuters Regulatory Intelligence (TRRI), a global solution that provides clients a focused view allowing them to manage regulatory risk with confidence. Under the agreement, FiscalNote will provide TRRI users with insight on ... Read More »

NAFCU’s Dan Berger refuted assertions by Antonio Weiss, counselor to Treasury Secretary Jack Lew, in The Wall Street Journal that there is no need for financial industry regulatory relief from Dodd-Frank Act rules.  Berger challenged Weiss in a letter to the editor published in WSJ on Friday July 24, 2014.  We must challenge Antonio Weiss’s conclusion regarding the lack of ... Read More »

Nottingham-based consultancy Regulatory Strategies Limited has been announced as the winner of the Most Outstanding Regulatory Consultancy Award (UK) for 2015 by leading corporate finance publication, Acquisition International Magazine, having won the same award in 2014. This year a particular citation was to be recognised for its innovation in the uses and applications of credit data in the development of ... Read More »

The company reported full-year revenues from ongoing businesses of $12.9 billion, a 3% increase before currency. Adjusted EBITDA increased 5% from the prior year and the corresponding margin was 27.4% versus 26.4% in 2011. Underlying operating profit decreased 5% and the corresponding margin was 18.6% versus 19.9% in the prior year. For the fourth quarter, the company reported revenues from ... Read More »