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Decoding the FCA’s Safeguarding reforms: Practical steps for payments and E-money firms

The Payments Association

The Financial Conduct Authority (FCA) recently outlined significant changes to the safeguarding regime for payments and e-money firms in its consultation paper CP24/20. However, this introduces new complexities, including increased legal obligations and potential delays in fund distribution. What’s next?

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Top regulatory priorities for the payments sector

The Payments Association

Safeguarding customer funds The Financial Conduct Authority (FCA) has proposed significant changes to the safeguarding regime for payments and e-money firms. Key actions for firms Implement robust internal processes : Firms must establish (or bolster) comprehensive internal processes to comply with the new safeguarding requirements.

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ECB outlines plans for integrated regulatory reporting across Europe

Finextra

Home Announcements Regulation ECB outlines plans for integrated regulatory reporting across Europe External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. It expresses the views and opinions of the author.

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UK Financial Conduct Authority plans to reform safeguarding rules for e-money and payment institutions

The Payments Association

On 25 September 2024, the UK Financial Conduct Authority (FCA) published its long-awaited Consultation Paper (CP24/20) setting out proposed changes to the safeguarding rules applicable to electronic money institutions (EMIs) and payment institutions (PIs) (together, payments firms). What does this mean for Payments firms?

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Project Savannah, a Blueprint to Simplify ESG Integration for Small Businesses

Fintech News

Advocating for a Unified Global Framework The current landscape of global ESG reporting standards is characterised by fragmentation and complexity, making it daunting for MSMEs to comply. Project Savannah champions the cause for a unified global framework that recognises and addresses the unique challenges MSMEs face.

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The EBA updates the supervisory reporting framework

Neopay

These technical standards are crucial as they allow supervisors to monitor institutions’ compliance with the Capital Requirements Regulation (CRR3) implementation of the latest Basel III reforms in the EU and will foster consistent and enhanced supervision.

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Understanding Crypto Money Laundering, and How to Get a Handle on It

Fintech News

And contrasting with the non-crypto native space, the Hong Kong Monetary Authority (HKMA) just fined DBS Bank (Hong Kong) Limited, the HK subsidiary of DBS , a HK$10 million penalty for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The United Arab Emirates has amended Federal Decree-Law No. (20)