Insights Archive

November 26, 2021

Should FCA Reconsider Its Approach To Whistleblowers?

Nobody doubts the usefulness of tipsters in the fight against financial crime, but the UK's Financial Conduct Authority (FCA) has long eschewed the idea of rewarding them for their information, no matter how crucial. In view of the success of the US' Dodd-Frank regime, it might profit by reviewing this long-established policy.

November 26, 2021

European Politicians Keep Gambling Ads In Crosshairs

Gambling advertising in Europe remains a hot political topic, even as a long-awaited UK fan-led review of football governance fails to flag the sport’s relationship with gambling as a major issue.

November 26, 2021

DraftKings Downplays Crypto Gift Card Worries

DraftKings has dismissed concerns that an outlet’s decision to sell DraftKings gift cards with Bitcoin or Ethereum could raise anti-money laundering or know your customer concerns, but has asked the supplier to withdraw the option.

November 26, 2021

News In Brief: November 22-November 26, 2021

Norway's gambling monopoly is touting the positive impact of its responsible gambling methods, one year on from drastically lowering loss limits.

November 25, 2021

On To Next Step! EU Leaders Reach MiCA And DORA Agreement

The Council of the European Union, consisting of the EU’s 27 heads of state, has adopted a position on the Markets in Crypto Assets (MiCA) regulation and the Digital Operational Resilience Act (DORA) in preparation for negotiations with the European Commission and Parliament.

November 25, 2021

FCA Looking For Crypto Experts To Combat Crime

The UK's Financial Conduct Authority (FCA) is looking for a third-party provider that can help the regulator with the analysis of crypto-asset blockchain data and effective supervision.

November 25, 2021

U.S. Banks Can Engage In Cryptocurrency Activities, With One Caveat - Federal Regulator Says

National banks can engage in certain cryptocurrency, distributed ledger, and stablecoin activities, but only after they have received a non-objection from their supervisory office.

November 25, 2021

BNPL Could Become ’True Villain’ Of Christmas, Warns UK Parliamentarian

A senior member of the UK’s parliament has underlined the risks that buy now, pay later (BNPL) products pose for consumers as the country prepares for its first post-lockdown Christmas holidays.

November 25, 2021

UK Lawmakers Target PM Ahead Of Landmark Industry Update

UK Prime Minister Boris Johnson has received a list of regulatory changes a group of lawmakers want to be addressed in the government’s white paper on the ongoing Gambling Act review.

November 25, 2021

Evolution Denies Breaching US Sanctions List

Gaming software and streaming giant Evolution has hit back at claims in a secret report that it was enabling “a myriad of illegal activities, as well as regulatory and contractual violations”, including allowing gaming in sanction-listed countries such as Syria and Iran.

November 24, 2021

Polish Bank Fined For Failing To Notify Data Breach

The Polish Personal Data Protection Office has imposed a €80,000 fine on Bank Millennium, after finding that the bank did not report an incident to the authority.

November 24, 2021

’Red Alert’ For Crypto Ads, Says UK Regulator

The UK’s Advertising Standards Authority has said that tackling the rise in crypto ads throughout advertising media is a priority.

November 24, 2021

UK Finance Outlines Open Banking Vision

Governance and voluntary industry initiatives have taken centre stage in a new report on the future of open banking payments, which has been compiled by financial services industry association UK Finance.

November 24, 2021

News In Brief - November 24, 2021

After making Bitcoin legal tender, El Salvador is now planning to build the first-ever Bitcoin City, powered by a volcano.

November 24, 2021

Seminole Tribe Appealing Court Order Blocking Florida Compact

Reactions trickled in throughout Tuesday to the major federal court ruling quashing the gaming compact between the Seminole Tribe and the state of Florida, with the tribe already taking the first steps towards launching an appeal.

November 24, 2021

No More Football Indexes, Says UK Commission Consultation

The latest Gambling Commission consultation would safeguard the regulator against future Football Index style embarrassments, but also seeks to codify the new normal, legal experts have said.

November 24, 2021

Malta Websites Linked To Latest Italian Mafia Bust

Twelve people were arrested last week in Italy by anti-mafia police for running illegal betting operations through websites registered to companies in Malta.

November 24, 2021

Top Court Rules Wynn Macau Liable For Junket Misconduct

Macau’s highest court has declared casino operator Wynn Macau is culpable for player losses resulting from a heist at the now-defunct Dore junket, delivering a new body blow to the flailing VIP segment.

November 23, 2021

European Central Bank Unveils New Electronic Payments Framework

The European Central Bank’s governing council has approved a new rulebook for electronic payments, including stablecoins and crypto-assets.

November 23, 2021

Four Banks Struck With Hefty Fines From Hong Kong Regulator

Financial institutions operating on the island have been fined for failing to comply with anti-money laundering regulations, the Hong Kong Monetary Authority has announced.

November 23, 2021

BNPL Costs May Outweigh Value, Kansas Fed Warns

If buy now, pay later (BNPL) becomes a preferred payment method, the service may cost more for merchants than what it brings in, the Federal Reserve Bank of Kansas has warned, adding that it is unlikely for U.S. regulators to step in to mitigate merchant costs.