While other regulators are still in “wait and see” mode the Swiss Financial Market Supervisory Authority has published guidelines on ICOs.
Initial Coin Offerings are now mushrooming in Germany as well and the regulator published a guidance note explaining the circumstances under which tokens are “financial instruments”.
Financial data is one of the most attractive data sets for hackers, so financial institutions are at a high risk of being attacked.
There’s increasing demand for best practices, codes of conduct and self-regulatory frameworks to be developed. And there are signs that the sector is responding.
Identifying additional challenges for KYC and terrorist finance prevention in non-face-to-face / online channels.
Regulatory requirements to be met before a financial institution can outsource any function have been made more stringent