Tagged: christopher woolard

UK Financial Conduct Authority Partners with City of London Corporation to Pilot Digital Sandbox Supporting Firms Addressing COVID-19 Challenge

Sandbox

The Financial Conduct Authority (FCA) and the City of London Corporation are partnering on a digital sandbox designed to support firms that are addressing the COVID-19 challenge. The digital sandbox will support both big finance and early state Fintechs seeking to play a role in… Read More

Competition Chief Christopher Woolard Selected as Interim Chief Executive of Financial Conduct Authority

Christopher Woolard at CCAF 2019

The Financial Conduct Authority’s Executive Director of Strategy and Competition, Christopher Woolard, has been selected as the Interim Chief Executive of the FCA. HM Treasury announced the appointment today as current FCA Chief Executive Andrew Bailey has been tapped to take over the role of… Read More

As Bad as Payday Lenders: FCA Chastises Banks’ Overdraft Fees, Provides New Rules on Overdrafts

Christopher Woolard

The Financial Conduct Authority (FCA) is introducing new rules regarding overdraft fees that impact consumers. The new rules expect to benefit 70% of the population as banks will now be required to charge a simple annual interest rate, without any additional fees or charges beginning… Read More

Not Good Enough: UK FCA Says Competition for Savers Must be Better, Interest Rates More Transparent

UK British Pound Money

The UK Financial Conduct Authority (FCA) has launched a consultation on the competition for savings and ISA accounts. The FCA has previously raised concerns regarding interest rates paid to consumers who tend to remain with a financial institution even though their money may generate a… Read More

Ban Hammer: UK Financial Conduct Authority Proposes Prohibition of Crypto Derivatives

The Axe Chopping Block

The UK Financial Conduct Authority (FCA) has proposed a ban on the sale of both derivatives and exchange-traded notes (ETNs) based on “certain types of cryptoassets.” This ban will impact retail investors. As part of the decision-making process, the FCA has commenced a public consultation… Read More

UK Financial Conduct Authority Addresses Topic of Stablecoins Providing Insight into Regulatory Approach

Christopher Woolard at CCAF 2019

In a speech presented today by Christopher Woolard, Executive Director of Strategy and Competition at the UK Financial Conduct Authority (FCA), the regulator addressed the hot topic of “stablecoins.” The speech was delivered at the annual Cambridge Centre for Alternative Finance conference which saw regulators… Read More

FCA Competition Director Christopher Woolard Testifies before House Committee Fintech Task Force

Christopher Woolard 3

Financial Conduct Authority (FCA) Director of Competition Christopher Woolard testified before the House Financial Services Committee Fintech Task Force today. The other witnesses participating in the hearing included: Paul Watkins, Assistant Director, Office of Innovation, Consumer Financial Protection Bureau (CFPB) Beth Knickerbocker, Chief Innovation Officer,… Read More

The Financial Conduct Authority Updates Rules for Peer to Peer Lending, Boosts Investor Protection Including Cap on Retail Investors

United Kingdom Flag Rain Umbrella UK England

The UK Financial Conduct Authority (FCA) has published a long-anticipated update to crowdfunding rules. More specifically, the FCA has “enhanced” aspects of investor protection for investors participating in peer to peer lending (P2P). Rules for investment crowdfunding, on the other hand, came out largely unchanged…. Read More

Deeds Not Words. Christopher Woolard of FCA Announces First Cross Border Tests for Fintechs

Christopher Woolard

It is UK Fintech Week in London and there has been a flurry of announcements regarding new programs designed to boost the status of London as a leading Fintech hub. In a speech this morning, Christopher Woolard, Executive Director of Strategy and Competition at the… Read More

UK Financial Conduct Authority Issues Consultation on “Cryptoassets” Seeking to Provide Clarity on Regulatory Approach

search look UK binoculars

The UK Financial Conduct Authority (FCA) issued a consultation today on the emerging “cryptoasset” sector of finance.  The UK is well known for its thoughtful regulatory approach when it comes to innovative new financial services and the final outcome will be watched with interest around… Read More

In a Speech, UK Regulator Defines Their View of Cryptoassets and Next Steps towards Regulation

Crhistopher Woolard LendIt Fintech 2018

Speaking last week at the Regulation of Cryptocurrencies event in London, Christopher Woolard, Executive Director of Strategy and Competition at the Financial Conduct Authority (FCA), outlined his agencies view of crypto assets and provided insight into possible regulation. Woolard defined digital assets or cryptocurrencies as falling under… Read More

UK Financial Sector Regulator May Prohibit Crypto Derivatives

Christopher Woolard

A representative from the UK Financial Conduct Authority (FCA) told attendees at The Regulation of Cryptocurrencies event in London today that he is concerned that “Complex, volatile and often leveraged derivatives products” built on cryptocurrencies with “underlying market integrity issues” are being marketed to retail… Read More

UK Competition and Markets Authority Tells Banks to Work Harder for their Customers, Demands Change

Adam Smith on iPhone X Money Pounds UK

The Competition and Markets Authority (CMA), in conjunction with the Financial Conduct Authority (FCA), have demanded that traditional banks improve their services. The admonition comes following an independent survey of both personal and small business accounts that indicates banks are falling short when it comes… Read More

Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators

GFIN Members August 2018

The UK Financial Conduct Authority (FCA) has initiated a new consultation that is going beyond the UK borders when it comes to Fintech innovation. Announced today, the FCA has created the Global Financial Innovation Network (GFIN). The multinational group includes regulatory agencies from the US,… Read More

The UK Financial Conduct Authority Looks to Update Rules for Loan Based Crowdfunding which is “Increasingly Complex,” Opens New Consultation

United Kingdom Flag Rain Umbrella UK England

Investment Crowdfunding Rules Deemed Satisfactory. The UK Financial Conduct Authority (FCA) has finally released its long awaited post-implementation review of crowdfunding regulation. As has been widely rumored for quite some time, the FCA is looking to adjust rules governing loan based crowdfunding, also labeled peer… Read More

Fintech Sandbox: FCA Announces 29 Firms for Fourth Cohort for Innovative Regulatory Process

FCA Regulatory Sandbox small

The UK Financial Conduct Authority (FCA) has posted the 29 firms that will be part of the fourth cohort of the Fintech sandbox. The UK was the trailblazing regulatory agency that first created an environment where innovative financial firms could safely experiment with new services… Read More

More Fintech Please: FCA Says Mortgage Industry in Need of Innovation

Kensington Palace London UK real estate

The Financial Conduct Authority (FCA) has published an interim report on UK mortgage market. According to the FCA, Mortgage debt accounts for over 80% of total UK household liabilities – so this is a significant sector of finance that has a profound impact on individuals. While… Read More

Christopher Woolard, FCA Director of Competition: Regulators Must Work Together to Foster Fintech Innovation

Christopher Woolard at Innovate Finance Global Summit 2018

Christopher Woolard, the UK’s Financial Conduct Authority  Executive Director of Strategy and Competition, delivered a keynote speech today at the Innovate Finance Global Summit. Woolard is the defender and champion of the vital competition mandate that has made the FCA a successful financial regulator.  Woolard… Read More

Moving Forward with Regtech: FCA Calls for Input to Achieve Smarter Regulatory Reporting

Financial Conduct Authority FCA

The UK Financial Conduct Authority (FCA) has published a call for input as to how technology can make things easier for firms to meet their regulatory reporting requirements. Incorporating Regtech can also streamline the process for the regulator while improving the overall quality of the… Read More

UK Financial Conduct Authority Publishes Feedback Statement on Blockchain

One Pound Puzzle Money UK

The UK Financial Conduct Authority (FCA) has published a feedback statement on distributed ledger technology (DLT) or Blockchain.  The document comes following an earlier discussion paper published in April designed to commence a dialogue between interested parties and the regulator. The FCA has now responded to received… Read More

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