Go back to menu

Global Fintech Update - 24 May 2019

The latest fintech regulatory developments

24 May 2019

Welcome to this week's global fintech round-up, summarising fintech regulatory developments that have happened around the world along with our Clifford Chance fintech publications and upcoming events.

Details of these and previous developments can also be found on our Fintech Topic Guide on the Clifford Chance Financial Markets Toolkit.

Please click here to subscribe to future editions of the round-up.


(21 May 2019) Clifford Chance briefing - The digital future of syndicated loans

(17 May 2019) Talking Tech article - A global approach towards private crypto-asset reg? Will the new FSB Directory prompt a forward-looking discussion?

  • (21 May 2019) International Swaps and Derivatives Association deploys its Common Domain Model (CDM) (a common digital representation of derivatives trade events and actions, which is intended to improve the way derivatives are managed and to establish a standard foundation for the application of technologies such as DLT and blockchain) to support the Financial Conduct Authority and Bank of England in testing phase two of its digital regulatory reporting pilot for derivatives | Press release
  • (15 May 2019) International Financial Reporting Standards (IFRS) Foundation responses to its consultation on how the IFRS Standards apply to holdings of cryptocurrencies


  • (2 Apr 2019) Securities Commission of the Bahamas consultation on an act to regulate the issuance, sale and trade of digital assets


  • (21 May 2019) Securities and Exchange Commission (SEC) court order halting $30,000,000 Ponzi scheme involving, in part, an unregistered cryptocurrency token offering purportedly backed by diamonds.
  • (21 May 2019) Commodity Futures Trading Commission Commissioner, Rostin Behnam, calls on the White House to convene a working group on fintech to reduce regulatory uncertainty | Press statement
  • (20 May 2019) Office of the Comptroller of the Currency risk perspective, which singles out innovation in financial products and services as a special topic in emerging risks to the banking sector.
  • (14 May 2019) SEC cease-and-desist order imposed on Canadian corporation and $25,000 civil penalty on its co-founder and former CEO following false representations in presentations to US and other investors that up to four prominent individuals in the blockchain industry were serving as advisors to the corporation.
  • (13 May 2019) US Treasury Under-Secretary for Terrorism and Financial Intelligence, Sigal Mandelker, speech on the Treasury's approach to virtual currency.


  • (22 May 2019) Securities and Exchange Board of India circular setting out a framework for an innovation sandbox for fintechs



  • (15 May 2019) Financial Services Commission revises the Financial Investment Business Regulation to encourage robo-advisory services | Press release


  • (22 May 2019) Securities and Exchange Commission regulations (in Thai) on debt crowdfunding through funding portals | Press release


  • (17 May 2019) European Central Bank occasional paper on the implications of crypto-assets on financial stability, monetary policy and payments and market infrastructures


  • (15 May 2019) Malta Financial Services Authority strategy for fintech, including plans to develop an innovation hub


  • (23 May 2019) Loan Market Association (LMA) results from its survey into how LMA members are using financial and legal technology | Available to LMA members only
  • (23 May 2019) High Court Chancellor, Sir Geoffrey Vos, speech on lawtech, smart contracts and artificial intelligence


  • (8 May 2019) National Bank of Ukraine board resolution (in Ukrainian), which enables companies to test innovative financial products and services in the Ukrainian regulatory environment, comes into force | Press release


  • London - Security Token Academy Meet-Up (12 Jun 2019): Clifford Chance is a sponsor of the Security Token Academy's inaugural London meet-up. The event will involve a panel discussion focusing on the security token revolution and industry developments, as well as opportunities to network. | For more information and to register see the event webpage
  • Washington - Fintech and the Future of Finance in the Developing World: Emerging Opportunities and Risks (12 Jun 2019): Panel comprising representatives from FINCA, the World Bank, R3 and Clifford Chance will discuss the current state of fintech in the developing world and the opportunities created by new technologies, as well as the obstacles to growth. | For more information see the Talking Tech event webpage
Additional Information

This publication does not necessarily deal with every important topic nor cover every aspect of the topics with which it deals. It is not designed to provide legal or other advice. Clifford Chance is not responsible for third party content. Please note that English language translations may not be available for some content

Want to get this round-up delivered directly to your email inbox? Please click here to subscribe to the round-up.