Japan’s financial regulator the Financial Services Agency (FSA) has published draft guidelines for funds investing in cryptocurrencies. The FSA said that it believes that it needs to carefully handle the formation and sale of investment trusts that invest in crypto-assets. (Token Post) 2 mins

The Monetary Authority of Singapore (MAS) and Thailand’s Office of Insurance Commission (OIC) have signed a memorandum of understanding (MoU) to enhance cooperation in insurance supervision. The MoU will provide a framework for cooperation, exchange of information, and assistance in insurance supervision. (Insurance Business Asia) 1 min

Compliance

A recent report from law firm Ashurst and trade association UK Finance has revealed that the Senior Managers and Certification Regime (SMCR) has created ‘meaningful change’ in financial institutions. The report said there has been a tangible change in culture, behaviour and attitudes towards risk within firms. (CDR) 3 mins

RegTech

Infrasoft Technologies and IBS Intelligence have recently put together a RegTech whitepaper that examines what RegTech means for firms in the financial industry. The report highlights how banks and financial institutions have increased their focus on regulatory compliance and are investing more heavily in technology to avoid regulatory lapses. (IBS Intelligence) 2 mins

At a recent technology event in New York hosted by the Securities Industry and Financial Markets Association (SIFMA), regulatory and compliance experts discussed the growth of RegTech and looked at the impact it’s having on companies. One of the big advantages of RegTech, according to Kavita Jain, director of the Financial Industry Regulatory Authority’s (FINRA) office of financial innovation is that it can proactively identify risk factors. (Investment News) 2 mins

Meanwhile, at the City & Financial Global’s annual Regtech Automation and Compliance Forum in London, experts recently discussed how advanced technologies will change the way that institutions are regulated. (Securities Finance Monitor) 3 mins

Financial technology group Broadridge announced last week that it is teaming up with FundsLibrary, a provider of digital fund data and regulatory solutions, in order to provide RegTech solutions for European wealth and asset managers. The two companies are developing an offering to address the challenges posed by MiFID II Ex-Post Costs and Charges and Solvency II. (Crowdfund Insider) 2 mins

FinTech

London has overtaken New York to become the world’s number one city for investments in FinTech, a recent report has revealed. In the first eight months of 2019, London attracted 114 investments with a value of more than $2bn, according to Innovate Finance and London & Partners. (City AM) 2 mins

However, as emerging markets scale rapidly, the UK must drive innovation to remain a major global FinTech hub, according to Peter Estlin, Lord Mayor of the City of London. Estlin also warned that the speed at which banks onboard new customers must increase. (Bobsguide) 2 mins

On the topic of FinTech, if you have a bit of spare time this week, there’s a great video here that looks at the rise of FinTech in the UK. The video by 11FS explains how the Global Financial Crisis ultimately led to the FinTech revolution and looks at how the UK has created a FinTech ecosystem that is the envy of the world. (The Finanser) 1 hour

Technology

If you’re interested in learning more about how artificial intelligence will impact banking, there’s a good video here from Finextra that features interviews with banking experts that took place at Sibos 2019. (Finextra) 5 mins

The emergence of artificial intelligence and machine learning technologies will have a huge impact in the fight against money laundering, says Jayakumar Venkatarmaran, managing partner at Infosys Consulting. According to Venkatarmaran, now is the time for financial institutions to incorporate these advanced technologies. (International Banker) 3 mins

AML

The three European supervisory authorities, ESMA, the European Banking Authority (EBA), and the European Insurance and Occupational Pensions Authority (EIOPA), last week published their second joint Opinion on the risks of money laundering and terrorist financing affecting the European Union’s financial sector. The regulators found that the monitoring of transactions and suspicious transactions reporting still raises concerns, particularly in sectors where a financial institution’s business model is based on frequent transactions. (EIOPA) 2 mins

In a meeting this week, European Union finance ministers will be considering whether they should set up a supervisor that would be responsible for money laundering cases. Despite several anti-money laundering overhauls recently, the EU still remains vulnerable.  (Reuters) 2 mins

HSBC has revealed a new anti-money laundering (AML) surveillance system and automated sanctions checking tool for its global trade and receivables finance business. The new AML system leverages big data, advanced analytics, and automated monitoring to detect and intercept financial crime in international trade. (Global Trade Review) 2 mins

Events

Last week, The RegTech Summit took place in London. Next month, on 14 November it will take place in New York. You can find more details and the full agenda here. (A-Team Insight) 2 mins