Finovate

SEPTEMBER 18, 2024

As a result of this nightmare, the FDIC has advanced a notice of proposed rulemaking for what it is calling Requirements for Custodial Deposit Accounts with Transactional Features and Prompt Payment of Deposit Insurance to Depositors. The regulatory body is currently taking public comment on the rule.

Rules 52

Rules FDIC Non-Bank Money Laundering 52

The Fintech Times

SEPTEMBER 23, 2024

In response to this shift, the region’s regulators are aiming to unlock new areas of open finance and digital banking through rule changes. Requirements in Brazil typically focus on the types of products and services offered; while Mexico has a specific licence for fintechs. .”

Compliance 105

Compliance Regulations Treasury Reporting Requirements 105

Fintech Review

OCTOBER 22, 2024

Cryptocurrencies have rapidly gained prominence over the last decade, presenting both opportunities and challenges for individuals, businesses, and regulators alike. The Global Landscape of Cryptocurrency Taxation Cryptocurrencies have a decentralised nature, making them difficult to track and regulate.

Cryptocurrency 97

Cryptocurrency Laws IRS Regulations 97

Neopay

JULY 18, 2024

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.

Reporting Requirements 52

Reporting Requirements Credit Risk Risk Consulting 52

The Fintech Times

SEPTEMBER 4, 2024

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. Regulatory rules are constantly changing, with new ones being introduced at a rapid rate. .

Compliance 65

Compliance Rules Regulations Laws 65

The Payments Association

OCTOBER 11, 2024

The Financial Conduct Authority (FCA) is consulting on new rules and guidance to strengthen the safeguarding of consumer funds in the payments and e-money sectors. The current safeguarding rules are based on the Payment Services Regulations 2017 (PSRs) and E-Money Regulations 2011 (EMRs).

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

Fintech News

JULY 17, 2024

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.

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

PYMNTS

JUNE 14, 2017

Not only do regulations vary from jurisdiction to jurisdiction, but the consequences of non-compliance vary greatly, too. In a new report by TMF Group, analysts aimed to understand exactly how compliance demands change in various parts of the world. There are also an “extremely high number” of tax rules.

Regulatory Compliance 58

Regulatory Compliance Compliance On-Demand Regulations 58

PYMNTS

DECEMBER 17, 2019

In a move to prevent technology giants from having an unfair advantage, Japan is planning to increase regulations and demand transparency, Reuters reported on Tuesday (Dec. The rules would require Big Tech firms to advise vendors of any changes to contracts and offer contact information in the event of complaints.

Rules 52

Rules Laws Regulations Reporting Requirements 52

PYMNTS

JANUARY 30, 2019

In that case, the company checks two different sources in a given country with two different rule sets. But regulators are now requiring firms to use risk-based policies and procedures to determine a customer’s risk scores and to use risk scores to establish a baseline for transaction and relationship monitoring.

Due Diligence 74

Due Diligence Verification Money Laundering FinTech 74

The Fintech Times

AUGUST 19, 2024

The Payment Systems Regulator (PSR) has published a response to its December call for views, which set out initial proposals on how it could support the first phase of expansion of Variable Recurring Payments (VRPs) to regulated financial services, regulated utilities sectors, and local and central government.

Continuity 59

Continuity Regulations API Reporting Requirements 59

PYMNTS

MAY 29, 2017

regulators have taken note of the issue and have gradually made efforts to ease the financial pain for SMEs. Most recently, this culminated in the introduction of Duty to Report rules. The regulations came into effect last month, requiring large corporations to make their B2B payment practices public. In the U.K.,

Regulations 40

Regulations Small Business Payments B2B 40

PYMNTS

MAY 22, 2018

A bill that would give regional banks a break on regulation was before the U.S. The bill also gives regulators more discretion in deciding when to require stress tests of capital adequacy for banks with between $100 billion and $250 billion in assets in the event of another crisis,” according to a summary of the bill in MarketWatch.

Regulations 40

Regulations Credit Union Community Banks FDIC 40

Fintech Finance

AUGUST 15, 2024

Today, the Payment Systems Regulator (PSR) has published a response to its December call for views. This call for views set out initial proposals on how the PSR could support the Phase 1 expansion of Variable Recurring Payments (VRPs) to regulated financial services, regulated utilities sectors, and local and central government.

Regulations 52

Regulations Payments Participant API 52

The Fintech Times

APRIL 25, 2024

Increasingly, tax authorities are demanding access to real-time or near real-time reporting and tax data, for visibility on exactly what is being sold, what taxes should be paid, and ultimately, if businesses are abiding by the correct rules and regulations. The result? Continuous transaction controls (CTCs).

Continuity 69

Continuity Near Real-Time Compliance Authorization 69

PYMNTS

MAY 1, 2018

Australia’s new regulations for payroll will apply to all businesses with at least 20 employees, and experts are urging employers to quickly take a headcount of staff and be ready to comply with the new requirements. Employers must count each employee on their payroll and keep a copy for their records.”.

Payroll 40

Payroll Reporting Requirements Rules Regulations 40

FICO

JANUARY 5, 2023

Open banking, BNPL, cybersecurity and AI will all be under the microscope for regulators and policymakers, but not all areas will see major action in 2023. regulators take a major step in addressing the emerging open banking landscape. Several groups have also called for comprehensive industry regulation. Four 2023 U.S.

BNPL 52

BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52

PYMNTS

OCTOBER 17, 2016

The consultation was set forth by the Department for Business, Energy and Industrial Strategy, according to reports. “The new commissioner must have the confidence and respect of the entire business community and the strength to take on large businesses where necessary,” he said in his statement.

Small Business 70

Small Business Payments Government Governance 70

FloQast

OCTOBER 27, 2023

Typically, compliance management will also include Identifying appropriate controls, Managing relationships with various regulators, Coordinating or responding to regulatory concerns and inquiries, and Mitigating regulatory breaches Why is Compliance Management Important? And make no mistake. Compliance management is no child’s play.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

PYMNTS

SEPTEMBER 4, 2019

That all changed last year with the Wayfair vs. South Dakota ruling that sought to level the playing field for brick-and-mortar stores. Will this increasingly regulated online sales tax environment affect this growth? businesses could also benefit by helping foreign merchants enter the market and navigate economic nexus regulations.

Third Party Vendors 51

Third Party Vendors Laws Facilitators Small Business 51

PYMNTS

SEPTEMBER 25, 2019

Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. In the U.S., Also, in China, analysts at Yingcan Group pointed to the government’s P2P and marketplace lending crackdown as being likely to shrink the industry by as much as 70 percent this year.

Compliance 47

Compliance P2P Risk Management Regulatory Compliance 47

Global Fintech & Digital Assets

NOVEMBER 2, 2023

A proposed rule would increase Treasury’s insight into non-US crypto mixing transactions to combat illicit activities by malicious actors. According to FinCEN, mixers are generally required to register with FinCEN if they do business as money transmitters wholly or in substantial part in the US. By Parag Patel , Eric S.

Fincen 52

Fincen Money Laundering Law Enforcement Non-Bank 52

PYMNTS

SEPTEMBER 5, 2019

The Supreme Court ruled during 1992’s Quill Corp. North Dakota case that businesses must have physical, in-state presences to be subject to state sales tax requirements. ruling and returned the Wayfair decision to the South Dakota Supreme Court. market due to difficulty navigating disparate economic nexus regulations.

Laws 46

Laws Compliance Rules Governance 46

PYMNTS

APRIL 28, 2016

The new idea being floated involves classifying marketplace lenders, who operate online and also offer smaller loans with set payments, as installment lenders that are under the CFPB’s jurisdiction and regulations. Many are also bound to reporting requirements with the SEC.

CFPB 40

CFPB Consumer Protection Regulatory Compliance FTC 40

Nanonets

SEPTEMBER 21, 2023

From  technology  adoption to  compliance  with  regulations , we will delve into various strategies that can help businesses overcome  accounting  hurdles and achieve financial success. Non-compliance with Regulations Compliance with accounting regulations is essential to avoid legal issues and penalties.

Accounts 52

Accounts Audit Payroll Compliance 52

Nanonets

AUGUST 2, 2023

It helps to track the movement of goods, ensures border security, and allows the US Department of Commerce to regulate the flow of goods in and out of the country.   This includes items that are classified under the International Traffic in Arms Regulations (ITAR) or the "600 series" of the Commerce Control List.

Automation 52

Automation Regulations Compliance Legal 52

FICO

OCTOBER 26, 2017

As a result, financial institutions had to set up new processes, and most of the software vendors did not enhance their FATCA compliance solutions to cover the CRS reporting requirements. Same Goal, Different Rules for FATCA/CRS Compliance. Managing FATCA/CRS Regulations with One Tax Compliance & Reporting System.

Compliance 53

Compliance IRS Agreements Audit 53

FloQast

DECEMBER 13, 2023

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.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

Nanonets

APRIL 2, 2024

Compliance with Regulations: In today's regulatory environment, adherence to financial regulations and reporting requirements is non-negotiable. Data Matching: Nanonets empowers users to establish rule-based matching criteria, enabling the identification and reconciliation of transactions across disparate systems.

Reconciliation 52

Reconciliation Automation Adjustments Regulatory Compliance 52

Nanonets

MAY 7, 2024

This process is essential for maintaining financial accuracy, compliance with regulations, and preventing fraud or errors. Compliance and Regulation : Expense reconciliation is crucial for compliance with financial regulations and standards.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

Nanonets

FEBRUARY 9, 2024

ICFR runs the gamut of control systems and processes a company takes to ensure the validity of its financial statements and stay out of hot water with regulators, investors, and stakeholders. And, just as the rules vary between soccer and basketball, your referee's rules depend on your specific business.

Audit 52

Audit Risk Assessment Assessments Procedures 52

Nanonets

SEPTEMBER 23, 2023

Encumbrance Accounting in Different Sectors Encumbrance accounting is utilized differently in government, public sector, and non-profit organizations, with unique requirements and regulations to ensure transparent financial management. Governments often have strict regulations governing budgeting, procurement, and financial reporting.

Accounts 52

Accounts Governance Government Payroll 52

Nanonets

AUGUST 1, 2023

Data Validation and Verification: The extracted data is validated against predefined rules and matched with corresponding purchase orders and receipts to ensure accuracy and consistency. This audit trail serves as a record for compliance purposes, internal audits, and reporting requirements.

Automation 40

Automation Payment APIs and Integration Audit Rules 40

EBizCharge

SEPTEMBER 6, 2024

Data processing: Once inputted into the system, data is automatically processed according to the predefined accounting rules and policies. Sales tax management Sales tax management features are essential for businesses operating across multiple regions with varying tax rates and regulations.

Accounts 52

Accounts CRM Automation Audit 52

Nanonets

FEBRUARY 15, 2024

Data Validation and Verification: AI-based solutions often include mechanisms for validating and verifying extracted data against predefined rules or existing databases. Regulatory compliance becomes a challenge, as the manual handling of invoices hinders meeting accuracy and reporting requirements.

AI 52

AI Automation Process Mitigation 52

Nanonets

JANUARY 17, 2024

With ever-changing regulations, managing compliance manually is like juggling dynamite. InnovateX adopted an expense system that automatically updated with the latest tax and regulatory requirements, ensuring compliance and avoiding a potential hefty fine due to an overlooked tax regulation. Let's see how to create one.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52

The Payments Association

APRIL 14, 2025

Payments regulation roadmap: Q2 2025 14 April 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is the roadmap about? This Payments Regulation Roadmap for Q2 2025 provides a high-level yet actionable view of the key developments shaping the sector. Why is it important?

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88