1. Fintech regulations-.mp4

1. Fintech regulations-.vtt

ENGLISH

{{00:00:10}}
Personally, what I'd like to do is to
first of all, use resources available

{{00:00:16}}
to me on the regulators websites.

{{00:00:19}}
So FCA, PRA, AMF in France, and go
online, just read about what's coming up.

{{00:00:26}}
And the other thing that I'd like to
do personally is to, Leverage resources

{{00:00:30}}
that's available on legal, websites.

{{00:00:34}}
So we've got Grant Thornton and, legal
companies that you can basically just

{{00:00:41}}
go online and follow what they're
actually doing and what they are

{{00:00:43}}
publishing because they have they are
much closer to the ground in terms

{{00:00:48}}
of what the regulators are doing.

{{00:00:50}}
And then you have different events that
you can attend to meet with different

{{00:00:55}}
members of different regulatory bodies
that will basically be able to give

{{00:00:59}}
you an insight into what's upcoming.

{{00:01:01}}
So that's what I like to tend to do.

{{00:01:03}}
So I think the FCA has done a
great job being a world leader

{{00:01:07}}
for helping companies innovate.

{{00:01:10}}
They have the FCA Sandbox solution,
which has been replicated in

{{00:01:16}}
different, parts of the world.

{{00:01:17}}
So they're really encouraging to Fintechs
that want to bring new solutions to market

{{00:01:23}}
and fostering a competitive landscape.

{{00:01:25}}
So at Straussify, we have, experts in the
team, but we also work with compliance

{{00:01:31}}
consultants to help us manage the, our
regulatory needs and make sure that

{{00:01:37}}
we're constantly evolving with the
ever changing compliance requirements.

{{00:01:43}}
One thing in particular, which I
think is really great is the the SFDR.

{{00:01:47}}
So Sustainable Disclosure
Requirements for.

{{00:01:50}}
Companies to make sure that they're, not
greenwashing to ensure that they're always

{{00:01:56}}
being held accountable to how they present
their sustainability offerings to, users.

{{00:02:02}}
And that's just one example of many
that are out there that we're keeping

{{00:02:07}}
our, finger on the pulse for but there's
yeah, I think having experts in the team,

{{00:02:14}}
making sure they're fully integrated
with how our product looks, how it

{{00:02:17}}
feels and how it's presented to users.

{{00:02:20}}
Is what we're, doing at Strata Supply.

{{00:02:25}}
I think you don't need to do much
to hear about compliance in the

{{00:02:31}}
business, like the adjunction.

{{00:02:33}}
Compliance is literally everywhere.

{{00:02:36}}
It's in speaking to clients, speaking to
providers, speaking to the internal, risk

{{00:02:42}}
experts, and so on Me personally, I read
a bunch of newsletters from different,

{{00:02:50}}
law firms, compliance experts, FinTech
Future, obviously some newsletters

{{00:02:59}}
issued by the regulator, but that's
so that's not a structured approach.

{{00:03:04}}
We also have a structured
approach in the company.

{{00:03:06}}
We have a bunch of regular trainings,
we have internal monthly, newsletters,

{{00:03:12}}
especially about the regulatory
changes regulatory compliance changes,

{{00:03:18}}
and obviously some regular meetings
of different internal committees.

{{00:03:25}}
So a combination of these structured
and not structured approaches, that's,

{{00:03:29}}
I think, how I personally get the
updates, of the compliance changes.

{{00:03:36}}
Internally there's the continuous
research that we, undertake that is,

{{00:03:41}}
Our own research in collaboration with
our user groups and our client base.

{{00:03:47}}
We also interact quite heavily,
and this is probably our

{{00:03:49}}
greatest source, with regulators.

{{00:03:52}}
For instance, with the FCA, we're
regularly involved in technical

{{00:03:56}}
sprints around the key areas that
we're focused on, but then the

{{00:03:59}}
wider community about upcoming
changes and concerns that they have.

{{00:04:03}}
And it's a bilateral approach
to us being able to tell people.

{{00:04:09}}
Tell them what's going on in
the market, but also from their,

{{00:04:12}}
side, what's actually coming up
and what they're concerned about.

{{00:04:15}}
I think there are two pillars
you should be aware when you're

{{00:04:20}}
talking about regulation.

{{00:04:21}}
The first one is, how do you feel
about regulation in your DNA?

{{00:04:26}}
And we are in Mercurio thinking about
regulation that in the place where crypto

{{00:04:32}}
touches fiat, there should obviously
be regulation, and this in our DNA.

{{00:04:37}}
The second thing is, you should have an
outstanding compliance and legal team.

{{00:04:45}}
And lucky for us, we have such one.

{{00:04:49}}
And when you combine both, two of
those things, where you deliver the

{{00:04:54}}
idea to the company that this is our
core competence, to be compliant, and

{{00:04:58}}
we have an outstanding green team in
compliance, everything would be okay.

{{00:05:04}}
We're.

{{00:05:05}}
We're not a unique company, but we really
invested in compliance extremely early.

{{00:05:09}}
So we're regulated by the FCA, but we
started our journey two years before that.

{{00:05:14}}
And one of the first hires we
actually brought into the business

{{00:05:17}}
was our chief compliance officer.

{{00:05:19}}
Very different to a normal
startup in an unregulated space.

{{00:05:22}}
Compliance officer normally comes
much later or, not at all, but having

{{00:05:27}}
that person so early in the journey
was fantastic because it meant that

{{00:05:30}}
you've got the capacity, you've got
the knowledge and the experience to.

{{00:05:34}}
Navigate actually a lot of
the complexities from day one.

{{00:05:38}}
Lee, who's our Chief Compliance Officer,
he does weekly roundups, he's always

{{00:05:42}}
horizon scanning, he uses quite a lot
of different technology platforms to

{{00:05:46}}
stay abreast of all the different news
and updates, and his role is really

{{00:05:50}}
to be looking ahead as well as looking
in the present, and keeping the team

{{00:05:53}}
updated and informed along the way.

Personally, what I'd like to do is to
first of all, use resources available

So FCA, PRA, AMF in France, and go
online, just read about what's coming up.

And the other thing that I'd like to
do personally is to, Leverage resources

So we've got Grant Thornton and, legal
companies that you can basically just

go online and follow what they're
actually doing and what they are

publishing because they have they are
much closer to the ground in terms

And then you have different events that
you can attend to meet with different

members of different regulatory bodies
that will basically be able to give

So I think the FCA has done a
great job being a world leader

They have the FCA Sandbox solution,
which has been replicated in

So they're really encouraging to Fintechs
that want to bring new solutions to market

So at Straussify, we have, experts in the
team, but we also work with compliance

consultants to help us manage the, our
regulatory needs and make sure that

we're constantly evolving with the
ever changing compliance requirements.

One thing in particular, which I
think is really great is the the SFDR.

So Sustainable Disclosure
Requirements for.

Companies to make sure that they're, not
greenwashing to ensure that they're always

being held accountable to how they present
their sustainability offerings to, users.

And that's just one example of many
that are out there that we're keeping

our, finger on the pulse for but there's
yeah, I think having experts in the team,

making sure they're fully integrated
with how our product looks, how it

I think you don't need to do much
to hear about compliance in the

It's in speaking to clients, speaking to
providers, speaking to the internal, risk

experts, and so on Me personally, I read
a bunch of newsletters from different,

law firms, compliance experts, FinTech
Future, obviously some newsletters

issued by the regulator, but that's
so that's not a structured approach.

We also have a structured
approach in the company.

We have a bunch of regular trainings,
we have internal monthly, newsletters,

especially about the regulatory
changes regulatory compliance changes,

and obviously some regular meetings
of different internal committees.

So a combination of these structured
and not structured approaches, that's,

I think, how I personally get the
updates, of the compliance changes.

Internally there's the continuous
research that we, undertake that is,

Our own research in collaboration with
our user groups and our client base.

We also interact quite heavily,
and this is probably our

For instance, with the FCA, we're
regularly involved in technical

sprints around the key areas that
we're focused on, but then the

wider community about upcoming
changes and concerns that they have.

And it's a bilateral approach
to us being able to tell people.

Tell them what's going on in
the market, but also from their,

side, what's actually coming up
and what they're concerned about.

I think there are two pillars
you should be aware when you're

The first one is, how do you feel
about regulation in your DNA?

And we are in Mercurio thinking about
regulation that in the place where crypto

touches fiat, there should obviously
be regulation, and this in our DNA.

The second thing is, you should have an
outstanding compliance and legal team.

And when you combine both, two of
those things, where you deliver the

idea to the company that this is our
core competence, to be compliant, and

we have an outstanding green team in
compliance, everything would be okay.

We're not a unique company, but we really
invested in compliance extremely early.

So we're regulated by the FCA, but we
started our journey two years before that.

And one of the first hires we
actually brought into the business

Very different to a normal
startup in an unregulated space.

Compliance officer normally comes
much later or, not at all, but having

that person so early in the journey
was fantastic because it meant that

you've got the capacity, you've got
the knowledge and the experience to.

Navigate actually a lot of
the complexities from day one.

Lee, who's our Chief Compliance Officer,
he does weekly roundups, he's always

horizon scanning, he uses quite a lot
of different technology platforms to

stay abreast of all the different news
and updates, and his role is really

to be looking ahead as well as looking
in the present, and keeping the team

Fintech Founders explores fintech regulations and evolving compliance requirements with our experts Henry Orunkoya, Founder, Wollette, Nikki Hawkes, Co-Founder, Stratiphy, Dima Kats, Founder & CEO, Clear Junction, Ben Parke, Founder & CEO, Eflow Global, Petr Kozyzkov, Co-Founder & CEO, Mercuryo and Matt Ford, Co-Founder & CEO, Sidekick.
