Tagged: christopher woolard

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

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

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

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

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

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

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

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

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, 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

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

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

Lessons Learned: UK FCA Shares Insight into Fintech Sandbox Operation After First Year

Following the first full year of operations of the Fintech Sandbox, the UK Financial Conduct Authority (FCA) has published a report outlining lessons learned. The UK has been the trailblazer in the concept of creating a regulatory sandbox to allow innovative financial firms to work… Read More

Insurtech: FCA & Hong Kong Insurance Authority to Cooperate on Fintech

The Financial Conduct Authority (FCA) has entered into a co-operation agreement with the Hong Kong Insurance Authority (IA) designed to enhance collaboration in supporting Fintech innovation.  The FCA explains the agreement includes information sharing and mutual referrals of Fintech firms looking to enter into either… Read More

FCA Publishes PSD2 Approach

The UK Financial Conduct Authority (FCA) has published their approach to the EU directive known as PSD2.  This directive defines the requirements for firms that provide payment services and impacts a wide range of financial service firms including Fintechs. PSD2 ostensibly aims to improve consumer… Read More

FCA Provides Details on Scope of Investment Platforms Market Study

The Financial Conduct Authority (FCA) has published the Terms of Reference regarding the Investment Platforms Market Study. The document will be used as a guide in the FCA review of platform. For the purposes of this study the FCA defines “platforms” broadly. The study is said… Read More

FCA Director of Competition Chris Woolard Cautions on Usage of Bitcoin

Chris Woolard, the Financial Conduct Authority’s competition Czar, has commented on the usage of cryptocurrencies. As reported by FN news, Woolard said; “We don’t prohibit regulated firms from engaging in digital currency trading, nor do we prohibit banks from offering banking services to deal with… Read More

FCA Inks Fintech Cooperation Agreement with Hong Kong

The Financial Conduct Authority (FCA) has signed a co-operation agreement with the Securities and Futures Commission (SFC) in Hong Kong. The intent of the agreement is to encourage collaboration that supports Fintech innovation. According to the document, the FCA and SFC will co-operate on information… Read More

FCA: It is Our Job to Provide the Conditions that Simplify Regulatory Complexities & Give Space for Firms to Innovate

Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered a Keynote address today at the Innovative Finance Global Summit 2017. Woolard, the FCA’s champion for competition and thus a champion for consumers, delivered an important message regarding their regulatory mission: “It is… Read More

UK & Japan Governments Partner to Promote & Support Fintech Innovators

The Financial Services Agency of Japan (JFSA) and the UK’s Financial Conduct Authority (FCA) have announced a “Co-operation Framework” to support innovative Fintech firms. This “Exchange of Letters” between the JFSA and the FCA is intended to provide a regulatory referral system for “Innovator Businesses”… Read More

FCA Publishes Consultation Paper Seeking to Improve the IPO Process

The Financial Conduct Authority (FCA) has published a consultation paper on the initial public offering (IPO) process. The paper is part of an initiative designed to reform the UK IPO ecosystem by improving the quality of information provided to market participants. Christopher Woolard, Executive Director… Read More

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