Four-hour briefing
Fintech Briefing —
What changed in fintech over the last 4 hours
Pulse: Regulatory adjustments dominate this cycle, spanning banking supervision, trading rules, reporting taxonomies, and derivatives licensing.
Top Stories
- EBA Reports Resilient Bank Capital and Clarifies Reporting Standards
The European Banking Authority reported that banks maintain capital levels well above Basel III minimum requirements, alongside releasing several final Q&As clarifying regulatory reporting standards and taxonomy requirements.
Why it matters: The disclosures provide banks with technical compliance clarifications for prudential and resolution reporting, while highlighting capital strength under the Basel III framework.
- SEC Proposes Expanding Cross-Trading Rules for Registered Funds
The Securities and Exchange Commission proposed amendments to the Investment Company Act cross-trading rule to expand the types of securities eligible for transactions between registered funds and their affiliates under specified conditions.
Why it matters: Asset management platforms and institutional trading vendors may need to update cross-trading execution logic and compliance safeguards for registered funds.
- Blockchain.com Applies for CFTC Derivatives and Prediction Licenses
Blockchain.com has applied for DCM and FCM licenses from the CFTC to offer prediction markets and crypto derivatives to U.S. customers, supporting its domestic expansion ahead of a potential U.S. initial public offering.
Why it matters: The applications mark an effort by a major digital asset platform to offer regulated derivatives and event-based contracts in the U.S. while positioning itself for a public market debut.
Regulation
- CFPB Shifts to Expedited Reviews Amid Ongoing Agency Funding Dispute
More than half of consumer lending institutions examined by the CFPB earlier this year received expedited reviews, easing examinations amid an ongoing battle over the agency's funding and operational structure.
Why it matters: Consumer lending fintechs and bank partners face an altered regulatory exam intensity that affects compliance planning and supervisory expectations.
Since the last briefing
- · 4 new major stories
- · 3 new regulatory developments
- · Regulation remains the most-covered topic
- · 1 story has multi-source coverage
Sources
European Banking Authority, US SEC, FinanceFeeds, PYMNTS