The Bank of England and the Financial Conduct Authority laid out...
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UK to bring cloud service providers under direct financial regulation
“As banks, insurers and financial market infrastructures become...
US eyes steering wheel-free cars
“If you’re developing a vehicle that is designed never to be driven...
WhatsApp submits reply on ‘username’ notice; govt examining messaging platform’s response: Sources
The Centre issued a notice to Meta last Wednesday, questioning the proposed username feature on WhatsApp, flagging concerns that it could materially increase incidents of online fraud, phishing, digital-arrest scams and impersonation attacks. New Delhi:Meta-owned...
No app can block new 1600 govt calls, DND app can block calls from 140 series: TRAI
The regulator said that it has mandated the use of 1600 series numbers for service and transaction calls by regulated entities of banking, financial services and insurance entities regulated by RBI, SEBI, IRDAI and PFRDA to their existing customers and by government...
FSSAI issues notices over flavoured spirits, misleading energy drink claims
In a related move, the FSSAI also served notices to six major beverage brands, including Red Bull and PepsiCo, for allegedly misbranding non-alcoholic beverages as “energy drinks”. New Delhi: The Food Safety and Standards Authority of India (FSSAI) has issued notices...
Aviva buys out Dabur’s 26%, takes full control of its Indian life JV
The acquisition follows recent regulatory foreign direct investment ("FDI") changes in India, which now allow foreign insurers to increase their shareholdings in local insurance companies to 100% This is the second deal in the Indian insurance sector in a week when a...
Banks’ exposure to heat-related losses faces scrutiny in EU
Heat-related damage tends to be less straightforward to measure than losses caused by floods and wildfires, the EBA said. For now, the next stress test measuring European bank resilience will focus on flood risk. The process, which extends into 2027, will be handled...
Financial services AI dangers highlighted by regulator’s review
Regulators globally have begun to focus more keenly on the impact of AI, from cyber and operational risks associated with frontier AI models such as Anthropic’s Mythos to the challenges posed by the agentic systems capable of acting with limited human intervention....
Google loses final appeal against €4.1 billion EU antitrust fine
The Android fine was imposed in 2018, a year after the Commission fined Google €2.42 billion ($2.77 billion) for using its shopping comparison service to gain an unfair advantage over smaller rivals. Google lost an appeal against that in 2021. Alphabet’s Google last...
World’s biggest domain seller fears India’s fake site crackdown could damage internet
Starting in 2019, lawsuits were brought by dozens of Indian and global firms - Amazon against fake shopping sites trading on its name and McDonald's complaining against bogus sites offering franchises. In December, an Indian court blocked more than 1,100 such...
IRDAI plans commission overhaul to curb insurance mis-selling
There have been concerns that hefty upfront commissions encourage distributors to prioritise sales volumes over customer suitability, resulting in mis-selling and customers being pushed into purchasing policies frequently. MUMBAI: India's insurance regulator is...
RBI tells Par panel that virtual digital assets like cryptocurrency a threat to economy
The RBI also told the Parliamentary Standing Committee on Finance, headed by BJP member Bhartruhari Mahtab, that China and Qatar are among the countries that have banned such financial activities, while Europe has allowed virtual digital assets in a very stringent,...