Financial Regulations and Compliance: What Changes to Expect in 2021
2020 was a rough year for the financial services industry. Between the Covid-19 pandemic and the FinCEN files leak, several shortcomings within the sector were exposed, while global regulators continued to slap Financial Institutions around the world with hefty fines. By December 2020, global FIs were fined a total of $10.6 billion for non-compliance with Anti-Money Laundering (AML), Know your Customer (KYC), data privacy and MiFID (Markets in Financial Instruments Directive) regulations.
Read more...