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In 2025, payments firms must prioritise compliance, open banking expansion, and stablecoin readiness to navigate regulatory shifts and drive growth. With regulatory scrutiny at an all-time high, payments firms must keep pace with evolving regulations to avoid financial penalties and reputational risks.
The FCA’s proposed safeguarding reforms for payments and e-money firms, aiming to enhance consumer protection and operational compliance. Firms must invest in compliance, adapt workflows, and advocate for fair regulations. Why is it important? What’s next?
1 The Opinion provides supervisory guidance to EU national competent authorities (NCAs) on the application of PSD2 to CASPs and recommendations for longer-term legislative alignment under the upcoming third EU Payment Services Directive (PSD3) and the accompanying EU Payment Services Regulation (PSR). Will PSD3/PSR fix the problem?
On 10 June 2025, the European Banking Authority (EBA) issued a No Action letter on the relationship between the Markets in Crypto-Assets Regulation (MiCA) and the Payment Services Directive 2 (PSD2). Such an approach is likely to be particularly attractive where there is an authorised PSP in the group and used to provide fiat payment rails.
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Unsurprisingly, this proposal aligns the loosely adopted Payments Services Regulations 2017 (PSRs) and E-Money Regulations 2011 (EMRs) regime with the CASS regime. CP24/20 outlined the proposed interim and end-state rules in September 2024, and interested parties will have provided their feedback accordingly.
This shift demands that billers stay informed and proactive, as compliance and efficiency heavily depend on understanding complex regulations and effectively leveraging service providers. Government Mandates: Clearance models help governments ensure compliance and improve tax collection through real-time transaction monitoring.
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. But banks in Europe are facing more and more regulatory reportingrequirements from various European and national authorities.
Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. But financial regulatory compliance can be a headache for any market. For traditional banks, compliance experts agree that it’s all about data — and the ability to share information with regulators.
Nubank , the digital bank boasting over 100 million customers across South America, has selected a regulatory reporting solution from capital market tech provider Nasdaq , ‘AxiomSL’, to fulfil reporting obligations in Colombia and ensure compliance.
Azariah explores the type of information to be presented to the Board and, importantly, how the Board should respond. And, as per true, fscom-super-helpful style, we have two templates to share with clients and prospective clients alike. Read more
Broadridge Financial Solutions has partnered with the CCRI , to create an integrated platform aimed at helping European financial firms meet new sustainability reportingrequirements under the MiCA regulations.
While many organisations are successfully solving genuine issues , regulators are as keenly focused on these firms as those out to maximise profits. “Issues such as data privacy, cross-border transactions, and adherence to stringent anti-money laundering (AML) protocols require constant vigilance and adaptation. .
This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer and safer. We asked industry experts to find out.
Tax and accounting compliance can be an overwhelmingly monumental task as companies expand their geographic footprint. Analysts agree that a company should work with partners, advisors and technologies that can help them manage their compliance demand across borders.
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However, one major challenge that cannabis businesses face is banking compliance. To navigate the complex world of cannabis banking compliance, businesses must develop a strong compliance program. These should outline the company's compliance obligations, reportingrequirements, and internal controls.
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Switzerland now boasts arguably one of the most coherent ecosystems of green fintechs, affiliated financial institutions and academic partners worldwide, officially supported by the national regulator, the State Secretary for International Finance SIF.
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regulators to tighten the financial reportingrequirements of banks and other financial services providers. The company has invested some $100 million since 2012 to enhance its own compliance programs following allegations of consumer fraud. MoneyGram is in favor of a proposal by U.S.
Australian challenger bank Judo Capital has chosen VERMEG , a leading banking and insurance software solution company, to meet its Australian Prudential Regulation Authority (APRA) reportingrequirements as it pursues its full banking license. “Regulatory reporting is an essential function for Judo.
This article is from Michael Blicker , a senior consultant in FICO's compliance solutions group. You would think one system would be enough to manage foreign tax compliance. Now, with CRS** (Common Reporting Standard), some financial institutions are starting to think they need two systems. Here’s where the trouble started.
Prior to the Sarbanes-Oxley Act (SOX), the last time we saw major changes in how public companies operate and report financial results was during the Great Depression. The lack of stock market regulations allowed for easy market manipulation and fraudulent activities. Enter the Sarbanes-Oxley Act (SOX) of 2002.
Martin Bellin recently spoke with PYMNTS about the developing role of the corporate treasurer, especially in the age of demanding compliancerequirements.
These figures underscore the immense challenge facing regulators and law enforcement agencies in their efforts to curb illicit financial flows in the crypto space. Transfers Just Under Reporting Thresholds The report highlights noticeable surges in transfers just below the US$1,000, US$3,000, and US$10,000 thresholds.
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Then the first money laundering directives came out, which started to mandate more and more in the realm of customer due diligence, so the company added a compliance check. More detailed eCDD — especially for business accounts, trusts and high-net-worth (HNW) accounts — has become a focus for regulators, governments and agencies.
Many of the same financial issues that profit-seeking enterprises face, such as increasing revenue, managing audits, and dealing with compliance, encounter non-profit organizations (NPOs). Financial planning for NPOs can be difficult, as certain issues will present unique challenges to you, such as specific reportingrequirements.
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The reforms aim to address weaknesses in safeguarding practices, reduce consumer fund risks, and enhance regulatory compliance, particularly in preventing fund shortfalls. The current safeguarding rules are based on the Payment Services Regulations 2017 (PSRs) and E-Money Regulations 2011 (EMRs). What’s next?
Firms with agents or distributors may require additional liquidity for safeguarding. Firms may be required to diversify their safeguarding providers. Enhanced reconciliation, audit, and reportingrequirements will create additional administrative burdens and could increase the risk of supervisory and enforcement action.
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As we approach the midpoint of February, the Abu Dhabi Global Market (ADGM) has been in the spotlight for celebrating achievements as well as penalising firms for breaching regulations. We are steadfast in our commitment to take regulatory action against practices intended to circumvent tax reporting.”
From technology adoption to compliance with regulations , we will delve into various strategies that can help businesses overcome accounting hurdles and achieve financial success. However, there are effective solutions to each of these challenges.
Our overarching mission is to provide compliance services for small businesses, businesses that don’t have in-house attorneys or tech professionals, to provide the info that small businesses need to comply with employee management and tax reportingrequirements,” said Susan Drenning, president of ComplyRight Inc.
The findings come at a challenging time for financial institutions, with several significant regulatory changes due to be implemented over the coming months, including European Market Infrastructure Regulation (EMIR) Refit and revisions to MiFID II. We look forward to completing the survey in 2025 to see how respondents have progressed.”
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