RegTech Weekly Roundup

RegTech Weekly Roundup

This week’s RegTech X digest features the new Discussion Paper published by the FCA

IA Fintech Member Insights: Clausematch 


Good morning! I hope you had a good weekend and you are keeping well.

This week’s RegTech X digest features the new Discussion Paper published by the FCA. The paper presents different views from industry leaders, professional bodies, culture experts, to help financial institutions embed purposeful cultures.

The European Banking Authority, in its turn, announced digital finance priorities for 2020, with a focus on the impact of regulation on the development of new technologies.

Regulation of artificial intelligence and cryptoregulation – again – continue to be widely covered.

You will also find the 6th Women in FinTech (WIF) Powerlist by Innovate Finance.

Congratulations to all the amazing, extraordinary and hard-working women driving change in the financial services industry!

Read on to find out more. ☕


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Regulator UK 

X The Financial Conduct Authority has released the Discussion Paper DP20-1 – Driving Purposeful Culture. It focuses on how a financial institution, their constituent entities and the workforce as a whole need to be unified in purpose. ( 60 pages

Bank of England prepared to cut interest rates to soften impact of coronavirus outbreak. Andrew Bailey promised on Wednesday to lead the Bank of England in swift action to soften the economic impact, divest the central bank’s holdings in polluting companies and review the balance of fiscal and monetary policy. (Financial Times) 4 mins

Regulator EU

On March 3, the European Banking Authority (EBA) published a speech by Chair of the EBA, José Manuel Campa, at the 4th Annual Conference on “FinTech and Digital Innovation: Delivering for the Future”. It is focused on three areas: 1) the impact of regulation on the development of new technologies; 2) the impact of supervision; and 3) the EBA’s plans for 2020 with regards to FinTech. (Regulation tomorrow) 2 mins

Here is the full speech. ( 15 mins

Regulator US

Ken Bentsen, SIFMA President & Chief Executive Officer, says financial institutions have been prepared for a crisis in which bankers will have to work remotely amid coronavirus concerns.(Bloomberg Wall Street Week) 7′ 08” video

The US Federal Reserve has slashed interest rates in a move to protect the economy from the coronavirus outbreak, ramping up the global response as the disease spreads. (The Guardian) 4 mins

Regulator Asia

South Korea will now regulate cryptocurrency. S. Korea’s National Assembly finally passed a bill that provides a framework for the regulation of cryptocurrencies and exchanges. (Reginnovate) 4 mins

Nearly 100 people called the Monetary Authority of Singapore (MAS) on Thursday (March 5) to report phone scams made in its name, a surge of at least 10 times that prompted the central bank to issue a warning on the same day. (Straits Times) 1 min

Hong Kong’s monetary authority reduced its base lending rate by half a percentage point after the US Federal Reserve conducted an emergency cut for the first time since the global financial crisis to counter risks stoked by the global coronavirus outbreak. (South China Morning Post) 5 mins


Here is an interesting article on using art as a lens into data lineage. Data lineage not only improves efficiency and accelerates time to insight, it also helps organisations bolster their regulatory compliance. Automated data lineage allows businesses to continuously update their data flows, as well as rapidly extract the exact information needed for audits from various sources. ( 4 mins


The finalists of the RegTech Insight Awards were announced last week – across 31 categories! You can support a company by giving your vote here. Some RegTechs are nominated in several categories. For instance, ClauseMatch is shortlisted in 2: Best Innovative Technology for Regulatory Compliance and Best AI Solution for Regulatory Compliance. (A Team Insight) 5 mins

KPMG reckons that by the end of 2020, RegTech – meaning, compliance technology – will make up more than a third of all compliance spending. Momentum is definitely building for compliance digitalisation. (BAI)  2 mins

What does the adoption of RegTech mean for the energy industry? With the decarbonisation on the agenda, it is hard to overestimate the importance of applying innovative technologies to automate regulatory compliance in this sector. (LinkedIn) The full interview with Jonathan Harley (Gemserv) can be found here(Gemserv) 3′ 45” video

Recently, I had a great occasion to chat with John Siracusa, the host of the ‘Bank on it’ podcast recorded onsite in Wall Street. Last week the episode went live. (Bank on it) 25′ 09” listen


Innovate Finance have released the Women in FinTech Powerlist 2019, launched back in November 2019. It shines a spotlight on 200 women leading innovation in financial services. Innovate Finance website says that this year the Powerlist (in its 6th year) has increasingly attracted a global audience, resulting in applications and nominations from around the world. (Innovate Finance) 10 mins


The world of artificial intelligence is constantly evolving, and so is the legal and regulatory environment in which it exists. (Forbes) 3 mins


Deutsche Bank told to improve anti-money laundering and compliance controls. According to an article published by the Financial Times, the bank can’t get clear of its compliance problems. (FT) 2 mins

A former chief operational risk officer at U.S. Bank got fined for failing to prevent corporate violations of anti-money laundering laws. He has agreed to pay a $450,000 penalty for his role in the bank failing to implement and maintain an effective anti-money laundering compliance program. (Wall Street Journal) 2 mins


Guy Warren, CEO at ITRS Group, suggests the financial services sector must improve their operational resilience in 2020 before time runs out. (Information Age) 2 mins


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