Archives

March 12, 2022 @ 5:51 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has told all operators of cryptocurrency ATMs operating in the UK to shut down machines or face an enforcement action. In a statement, the FCA said that crypto ATMs providing crypto exchange services must be registered and comply with… Read More

February 22, 2022 @ 8:52 am By JD Alois  |  

Bitpanda, an Austrian digital asset exchange, has acquired Trustology, according to a statement by Bitpanda. The move aims to bring in-house custody services for digital assets. Bitpanda stated: “We’re thrilled to welcome Trustology to Team Bitpanda! As one of the fastest-growing Fintechs, international expansion and… Read More

February 14, 2022 @ 9:33 am By JD Alois  |  

The UK Financial Conduct  Authority (FCA) has secured changes to consumer terms from popular buy now, pay later platforms, according to a statement from the regulator. The FCA states that terms in the contracts of Clearpay, Klarna, Laybuy, and Openpay have been “unclear” and “unfair.”… Read More

January 3, 2022 @ 10:04 am By Omar Faridi  |  

During a speech delivered earlier this month, Edwin Schooling Latter, Director of Markets and Wholesale Policy and Wholesale Supervision at the UK’s Financial Conduct Authority (FCA), went over the remaining actions companies must take, as the end of the year, when “the majority of LIBOR… Read More

December 26, 2021 @ 11:19 pm By Omar Faridi  |  

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, welcomes the fact the UK’s Financial Conduct Authority (FCA) has “recognized current levels of Financial Services Compensation Scheme (FSCS) funding are unsustainable and is committed to reform. But current… Read More

December 6, 2021 @ 10:29 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) issued a statement last week announcing rule changes designed to boost share listings on UK exchanges. At the beginning of 2021, the Kalifa Review of Fintech was published providing a roadmap for the UK to maintain and improve the… Read More

September 6, 2021 @ 12:38 pm By JD Alois  |  

In a speech delivered at the Cambridge International Symposium on Economic Crime, FCA and PSR Chair Charles Randall discussed some hot topics in the financial services sector – fraud and scams. More specifically, crypto scams and the regulation of digital assets or tokens. Currently, the… Read More

September 1, 2021 @ 12:21 pm By JD Alois  |  

Two weeks ago, the UK Financial Conduct Authority posted a “Dear CEO” letter directed at investment crowdfunding platforms. The letter, signed by Debbie Gupta, Director of Consumer Investments Supervision, cautioned platforms on both the risk of investments being offered to investors as well as the… Read More

August 18, 2021 @ 4:16 pm By JD Alois  |  

The UK Financial Conduct Authority has sent a “Dear CEO” letter to the management of the UK investment crowdfunding platforms. Signed by Debbie Gupta, Director of Consumer Investments Supervision, the missive cautions platforms on ensuring that investors fully understand the nature of the risk affiliated… Read More

July 6, 2021 @ 9:03 am By JD Alois  |  

At the end of last month, the UK Financial Conduct Authority (FCA) announced that Binance Markets Limited was no longer permitted to undertake any regulated activity in the UK. Binance Markets is part of the broader Binance Group – a company that powers the largest… Read More

June 17, 2021 @ 11:19 am By JD Alois  |  

The UK Financial Conduct Authority has been tracking crypto holdings in the UK for some time now. Earlier today, the top securities regulator provided an update indicating the more people in the UK are now holding crypto in contrast to prior data. This is the… Read More

May 21, 2021 @ 10:12 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) will be postponing the implementation of strong customer authentication (SCA) rules by another 6 months in order to minimize disruption for individual consumers and merchants. First scheduled for release in September 2019, the SCA guidelines – which require a… Read More

May 21, 2021 @ 9:04 am By JD Alois  |  

Earlier this week, the UK Financial Conduct Authority issued a “Dear Chief Executive” letter to payment and e-money firms warning about adequate disclosure when it comes to affiliated risk and consumer money. Some Fintechs provide similar services as banks while not being fully regulated as… Read More

May 13, 2021 @ 10:40 am By JD Alois  |  

In a digital world, physical cash still counts. A lot, according to UK regulators. A speech delivered today by Sheldon Mills, Executive Director for Consumers and Competition at the Financial Conduct Authority (FCA), he revealed that 5 million individuals still count on the pound sterling… Read More

April 29, 2021 @ 10:48 am By JD Alois  |  

Following a Call for Input (CFI) that sought feedback on the promotion of consumer investments, the UK Financial Conduct Authority (FCA) has published its proposal designed to safeguard retail investors.  The proposals in the Discussion Paper (DP) may impact new asset classes such as investment… Read More

April 21, 2021 @ 10:51 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has appointed Sacha Sadan to serve as its Director of Environment, Social and Governance (ESG). Ian Alderton has been appointed by the financial regulator as Chief Information Officer while Ian Phoenix will work as Director, Intelligence and Digital. Nikhil… Read More

April 21, 2021 @ 8:54 am By JD Alois  |  

Nikhil Rathi, Chief Executive of the UK Financial Conduct Authority (FCA), delivered a speech yesterday during a presentation at UK Fintech Week. Entitled, Levelling the playing field – Rathi provided perspective on innovation in financial services. He said that in 2019, Fintech revenue rose to… Read More

January 18, 2021 @ 9:02 am By JD Alois  |  

Following a call for input on the consumer investment market that closed to comments last month, the UK Financial Conduct Authority has issued a report on how the regulator “works to protect consumers from investment harm” citing activity during the first 10 months of 2020…. Read More

January 11, 2021 @ 8:35 am By JD Alois  |  

The UK Financial Conduct Authority has issued a statement on the risk of investing in cryptocurrency during a time when Bitcoin has hit all-time highs before backing off by over 15% erasing billions in gains. The FCA states: “The FCA is aware that some firms… Read More

December 13, 2020 @ 8:24 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has issued “Three Wise Warnings” for the nation’s consumers. The financial regulator has cautioned that customers should look out for loan fee fraud this Christmas or holiday season. The FCA notes that if you’ve been asked to pay some… Read More