Posts by Michael Thirer
The UK FCA’s “Risk Appetite” Has Just Changed – Willing to Take More Risk for Possible Growth
The UK FCA dispatched a letter to the British PM, declaring “A New Approach to Ensure Regulators and Regulations Support Growth”. In the letter, the FCA states it is willing to take a more risky regulatory approach, in order to assist financial growth. “To achieve the deep reforms necessary, your acceptance that we will take…
Read MorePizza, Pitstops and Agile Regulation
Abstract The very approach to financial regulation is changing these very days. Fast-paced, wide-scale disruptive technologies such as Gen AI have propelled a fundamental, global shift from Prescriptive Regulation to Agile Regulation. Agile Regulation is a concept that includes several types of regulatory strategies, and primarily Outcome-focused Regulation (OFR). OFR, as its name suggests, focuses…
Read MoreHow to Choose the Right Onboarding Solution for MiCA Compliance
MiCA and the Digital Finance Package On the 24th of September 2020, the EU introduced its “digital finance package”. The “package” was a bundle of suggested legislative and policy measures aiming to: The EU hoped the digital finance package “would unleash European innovation and create opportunities to develop better financial products for consumers, including for…
Read MoreNavigating the Evolving Regulatory Landscape in the FX Industry
Introduction The financial services industry, particularly the FX sector, operates in a dynamic regulatory environment. For example, in the EU, MiFID II and MiFIR are currently in a comprehensive review process, scheduled to proceed well into 2025, and include major changes to, among other things, derivatives transparency requirements. And this is, of course, just one…
Read MoreAdditional Benefit from Using RegTechs for KYC – GDPR Compliance
Regulators Encourage RegTech Adoption Regulators worldwide are strong advocates of RegTech solutions for the simple reason that these solutions provide both wider compliance as well as better compliance. Wider compliance – because RegTech solutions significantly reduce the cost of compliance; they make it possible for financial institutions to comply with the abundance of regulations which…
Read More3 Innovative Strategies to Stay Ahead of Competition in the Financial Sector
In today’s fast-paced financial landscape, staying ahead of the competition requires more than just keeping up with regulations. Compliance is no longer just about risk management; it can also be a key driver of business growth. By leveraging innovative strategies, firms can turn compliance into a competitive advantage. In this article, we explore three powerful…
Read MoreHow to Rank the Best KYC/AML Software Solutions – A Practical Guide
How to rank the best KYC/AML software solutions is a question a lot of compliance officers ask themselves – and we, as a provider of what we consider to be the absolute best KYC/AML software solution in the market, often ask ourselves as well. As our client onboarding platform is all about grading and giving…
Read MoreThe ‘Data Finder’ and the ‘Workflow’ – What to Look for in a KYC/AML Solution?
There are a lot of companies out there offering KYC/AML solutions but they aren’t all offering the same thing. In fact, KYC/AML solutions generally fall into two distinct categories – ‘the data finder’ KYC/AML solution and ‘the workflow’ KYC/AML solution. And then Muinmos came along and we added a category all of our own ‘the…
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