Department of Financial Services to Set Standards to Protect Consumers – Spotlight News – The home of The Spot 518

ALBANY – Governor Kathy Hochul last week announced the nation’s first approach to bringing much-needed oversight to drug benefit managers with the creation of the Department of Financial Services’ Office of Drug Benefits. The new office, announced on Wednesday, May 11, will be responsible for licensing and overseeing the industry, keeping a watchful eye on … Read more

Daily Financial Regulation Update — Thursday, May 19, 2022 | Paul Hastings LLP

PH Fintech Tracker on Executive Order for Digital Assets Congress United States House of Representatives Small Business Committee Committee holds hearing on oversight of SBA’s office of lending programs May 18, 2022 The House Small Business Committee held a hearing to consider challenges facing the Small Business Administration’s (SBA) Capital Access Office. Federal agencies US … Read more

K&L Gates adds banking and fintech partner in Boston | News and Events

Boston – Global law firm K&L Gates LLP welcomes Grant F. Butler as a Partner in the Practice of Payments, Banking Regulation and Consumer Financial Services. Based in the firm’s Boston office, Butler brings nearly 15 years of experience in the financial services industry with a particular focus on financial services regulation, transactions, corporate governance … Read more

We must extend financial inclusion to the most vulnerable

Financial inclusion is key to closing inequalities, which are likely to widen over time if the digitalization of financial services is not inclusive. In developing countries like Pakistan, women, the elderly, people with disabilities and other vulnerable groups are the least likely to benefit from the digitalization of financial services. But by leveraging existing technologies … Read more

INETCO Adds Additional Financial Services and Digital Currency Expertise to Advisory Board

Trusted provider of financial institutions extending fraud detection, cybersecurity and compliance platform to digital currency space as FIs seek to protect client assets VANCOUVER, BC, May 19, 2022 /PRNewswire/ – INETCO Systems Ltd. (“INETCO”) added Francisco Marotohead of blockchain and digital assets at BBVA, and former chairman of Netcoins and current CEO of Madali Ventures … Read more

The changing landscape of financial services

Financial services is an industry in constant evolution, and this evolution has accelerated considerably in recent years. Digital innovation is one of the main talking points of Finovate Spring 2022 It’s no surprise, then, that digital transformation and innovation in the space are key topics at this year’s Finovate Spring conference being held in San … Read more

CBN issues guidelines for Open Banking in Nigeria to improve financial services

The Central Bank of Nigeria has released the Regulatory Framework for Open Banking in Nigeria as part of its efforts to improve data sharing in the banking and payments system to promote innovations and expand the range of products and financial services available to bank customers. This was revealed in a recently published circular titled … Read more

Will the UWI become the ONDC for financial services?

The world is getting smaller day by day as more and more people connect to each other through networked computerized systems that form their own ecosystems. For an ecosystem to work effectively, it is important that it does not operate in silos and that all multiple components of the ecosystem can talk to each other … Read more

The changing face of cybersecurity as data sharing and pooling gain traction, CIO News, ET CIO

By Rahul Singh The risk to data in the financial services industry continues to multiply. A recent trend further aggravates the threat. This trend is interesting because it harnesses the power of sharing and pooling data from a variety of sources. Shared and pooled data presents a remarkable and growing opportunity for data theft. Indeed, … Read more

New York Department of Financial Services Explains How Blockchain Analytics Should Be Used for Compliance | Skadden, Arps, Slate, Meagher & Flom LLP

On April 28, 2022, the New York State Department of Financial Services (DFS) released Guidelines on the Use of Blockchain Analytics for Virtual Currency Businesses licensed under 23 NYCRR Part 200 ( also known as BitLicense) or licensed as limited purpose trust companies under New York banking law (collectively, NY Virtual Currency Entities). The DFS … Read more