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Financial Services
Editor's Picks
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FinCEN continues US deregulatory push, telling banks to file fewer reports
The US Treasury Department’s financial intelligence unit, which has been on a deregulatory tear in recent months, told banks Thursday they should file fewer reports... (more story)
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TikTok divestiture addresses US security concerns, leaves privacy questions
A deal announced by the White House this week to divest TikTok's US operations from Chinese control squarely addresses national security concerns about the manipula... (more story)
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US FTC consumer protection chief Mufarrige to focus on 'kitchen-table' issues
In a wide-ranging conversation with MLex, the US Federal Trade Commission's new consumer protection chief, Chris Mufarrige, discusses how the agency’s probe of AI c... (more story)
Insight View More
The Group of 20 economic powers received an annual Financial Stability Board report saying that authorities’ monitoring of Artificial Intelligence adoption and vulnerabilities is still at an early stage due to... (more story)
EU countries including France, Germany, Italy, Luxemburg and Spain have decided to work on the idea of an EU-wide securitization platform that would facilitate the standardization of processes across borders, ... (more story)
Draft legislation for the UK's move to a one-day trade settlement cycle is expected to be published before the end of the year, with the finance ministry appearing to seek to exempt securities financing transa... (more story)
The UK’s financial regulators have completed the transfer of EU investment firm conduct rules into their domestic rulebooks, paving the way for them to be able to tailor and streamline them for UK markets. The... (more story)
A 2020 Financial Stability Board effort to streamline cross-border payments hasn’t yet translated into “tangible improvements” for end users at the global level, a report by the regulatory coordinator for the ... (more story)
The US Federal Reserve soon will likely propose a reduction in the Community Bank Leverage Ratio, Treasury Secretary Scott Bessent said. He told a conference of community bankers today that Fed Vice Chair of S... (more story)
The UK government has yet to respond to requests for guidance on what would constitute an acceptable level of failure as a result of additional risk in the banking sector, the head of the country's financial s... (more story)
Former star fund manager Neil Woodford faces a likely wait of more than a year to defend himself against a multi-million pound fine over his collapsed fund, as senior regulators defended their conduct over the... (more story)
Comment View More
The EU is watching global stablecoin developments closely, debating whether its legal framework is enough to support market growth and protect its sovereignty. While some finance ministers tout the effectivene... (more story)
The US Treasury Department’s financial intelligence unit, which has been on a deregulatory tear in recent months, told banks Thursday they should file fewer reports about suspicious transactions. Financial ins... (more story)
The EU's gas and power markets should benefit from a new European energy bank to reduce market volatility, Benjamin Lakatos, the CEO of energy company MET Group, told MLex in an interview. Such a central bank-... (more story)
The UK's Financial Ombudsman Service — the main body for settling complaints between financial services firms and consumers — is facing turmoil in its leadership, just as it's preoccupied with carrying out cri... (more story)
New EU plans to encourage the creation of national savings accounts and to develop consumers' financial literacy are designed as non-legislative initiatives because this is the "faster road" and "more flexible... (more story)
A deal announced by the White House this week to divest TikTok's US operations from Chinese control squarely addresses national security concerns about the manipulation of the platform's content algorithm to f... (more story)
An EU Single Market Roadmap to 2028 will provide clear targets and deadlines for tackling barriers in finance, services, energy, telecoms and innovation, European Commission President Ursula von der Leyen anno... (more story)
A legal dispute over the provision of a consolidated tape for UK bonds risks pushing the long-awaited project back. Tech firm Etrading Software was chosen last month, but disappointed rival bidder Ediphy has s... (more story)