Tagged: cma

October 20, 2022 @ 9:46 am By JD Alois  |  

The Small Business and Entrepreneurship Council (SBE Council) has issued a statement hammering the UK Competition and Markets Authority (CMA) for its activity that will have “a chilling effect on America’s startup ecosystem.” This past week, the CMA claimed that the acquisition by Facebook (Meta)… Read More

August 23, 2022 @ 3:32 pm By JD Alois  |  

Digital banks and neobanks are a fairly recent evolution in the financial services world. Incumbent banking has been around for decades, if not hundreds of years. Old banks taking deposits for safekeeping, paying little in return (or charging fees), packaged with mediocre services, and queues… Read More

July 26, 2022 @ 12:28 pm By JD Alois  |  

Monzo, a leading digital bank, has been ordered by the UK Competition and Markets Authority (CMA) to manage its departing customers better. According to a statement by the CMA, Monzo must review how it communicates with exiting customers regarding historic financial transactions. Apparently, Monzo informed… Read More

May 29, 2022 @ 2:31 pm By Omar Faridi  |  

The Competition and Markets Authority (CMA) has released the findings and recommendations of a review by Kirstin Baker, which is one of its independent non-executive Directors, “to identify lessons from Open Banking for the CMA’s approach to designing, implementing and monitoring remedies in its market… Read More

March 25, 2022 @ 9:47 am By JD Alois  |  

  The UK Competition and Markets Authority (CMA) has issued a statement outlining its recommendations regarding the pursuit of Open Banking. The statement follows a consultation that was initiated in the spring of 2021. The CMA said its recommendations will guide a future entity that… Read More

March 15, 2022 @ 9:24 am By Omar Faridi  |  

The United Kingdom’s Competition and Markets Authority has clarified what may and may not be used for when it is introduced later in 2022. The CMA mandated the use of Variable Recurring Payments (VRPs) as the mechanism for implementing Sweeping – which is described as… Read More

December 13, 2021 @ 11:49 pm By Omar Faridi  |  

The Open Banking Limited (OBL) board is looking for a Chief Executive Officer who will be responsible for leading the everyday operations of the Open Banking Implementation Entity (OBIE) and its gradual transition to an organization that will be observing the Competition and Markets Authority’s… Read More

May 1, 2021 @ 9:17 pm By Omar Faridi  |  

The UK has reached a key stage for the ongoing development of Open Data initiatives.  The Open Banking Implementation Entity (OBIE) is now nearing the completion of creating Open Banking guidelines and the Competition and Markets Authority (CMA) has finalized a consultation on the updated… Read More

April 6, 2021 @ 4:29 pm By JD Alois  |  

Coming off the revelation that the UK Competition and Markets Authority (CMA) was not inclined to approve the merger between Seedrs and Crowdcube, Seedrs co-founder and Chairman Jeff Lynn was recently interviewed by the FT. Speaking with the broadsheet, Lynn “warned that the UK competition… Read More

March 28, 2021 @ 7:48 pm By JD Alois  |  

In a Tweet last Friday, Seedrs reported a big investment day for the platform where Passion Capital raised “over £2 million” in a couple of hours and MacRebur raised £1.6 million on Thursday. Seedrs said the first quarter of 2021 had been great. The comments… Read More

March 26, 2021 @ 9:07 am By JD Alois  |  

The UK Competition and Markets Authority (CMA) has publicly acknowledged the decision by Crowdcube and Seedrs to abandon the proposed merger of the two venture financing platforms. This past week, the CMA announced it had provisionally decided not to allow the merger to be consecrated…. Read More

March 25, 2021 @ 9:35 am By JD Alois  |  

Yesterday it was reported that the UK Competition and Markets Authority (CMA) had provisionally decided to not allow the merger between Seedrs and Crowdcube. The two securities crowdfunding platforms combined were seen as dominating online capital formation for early-stage ventures to the point it would… Read More

March 24, 2021 @ 11:36 am By JD Alois  |  

The UK Competition and Markets Authority (CMA) has announced its provisional finding indicating it is not inclined to approve the merger between Seedrs and Crowdcube. In its decision, the CMA said the combined company would control at least 90% of the UK crowdfunding market thus… Read More

February 3, 2021 @ 4:57 pm By JD Alois  |  

Crowdcube and Seedrs are in the midst of a review by the Competition and Markets Authority (CMA) regarding the proposed merger between the two early-stage funding platforms. The proposed merger was revealed in October of 2020. At that time, Seedrs CEO Jeff Kelinsky stated: “We… Read More

November 12, 2020 @ 8:24 am By JD Alois  |  

  The UK Competition and Markets Authority (CMA) has agreed to fast track the merger of Seedrs and Crowdcube – the two largest investment crowdfunding platforms based in the UK. The merging companies requested the fast track of the review to a Phase 2 stage… Read More

October 24, 2020 @ 11:31 am By JD Alois  |  

Earlier this month, the two leading investment crowdfunding platforms in the UK, Crowdcube and Seedrs, announced a proposed merger that would create the dominant online capital formation platform in the UK. Between the two firms, a merger would create not only the top platform in… Read More

August 18, 2020 @ 11:37 pm By Omar Faridi  |  

Fintech Saudi, an initiative that aims to transform Saudi Arabia into an innovative Fintech Hub with “a thriving and responsible” financial technology ecosystem, has been supporting the Kingdom’s economy by establishing an ecosystem directory and an online jobs portal dedicated to Fintech professionals. Fintech Saudi… Read More

April 17, 2020 @ 9:05 am By JD Alois  |  

This is interesting because it is indicative of the economic impact of the COVID-19 pandemic. The UK Competition and Markets Authority (CMA) has provisionally approved Amazon’s (NASDAQ:AMZN) investment in Deliveroo. Before the Coronavirus, the investment was not a given as the CMA was “concerned that… Read More

February 18, 2020 @ 9:09 am By JD Alois  |  

The Competition and Markets Authority (CMA) has issued a statement on Bottomline Technology’s purchase of the Experian Payments Gateway (EPG) business from Experian Limited. The purchased platform allows customers of Bottomline and EPG to make payments via the Bacs and Faster Payments Direct Corporate Access systems…. Read More

June 12, 2019 @ 7:09 am By JD Alois  |  

The UK Competition and Markets Authority (CMA) has cleared the acquisition by PayPal of competitor iZettle. In April, the CMA provisionally found the deal should be cleared. After an initial investigation (Phase 1), CMA raised concerns regarding competition reduction if the acquisition went through. The… Read More