TORONTO (Thomson Reuters Regulatory Intelligence) – Canada has proposed new regulations outlining how organizations, including financial firms, will report and record cyber-security breaches, assess potential harm, and notify affected individuals. The proposal, which aligns with EU data-protection rules that take effect next year, is intended to implement mandatory breach-reporting requirements described in the Digital Privacy […]

The number of fines issued to senior bankers by the financial regulator has dropped 40% since 2010. The Financial Conduct Authority (FCA) issued 18 fines to finance professionals categorised as performing a so-called significant influence function in 2013, marking a drop from the 30 fines handed out in 2010, law firm Reynolds Porter Chamberlain (RPC) […]

On March 1, 2014, under The Financial Services Authority Act 2013, the Seychelles International Business Authority (SIBA) changed its name to the Financial Services Authority (FSA), and became the regulator for offshore non-bank financial services in the Seychelles. While the SIBA, in the past, was also a service provider and facilitated international business, the FSA […]