Tagged: fca

UK Financial Conduct Authority: Over £27 Million Lost to Crypto & Forex Fraud as Scams Triple Versus Year Prior

The UK Financial Conduct Authority (FCA) has published a report addressing frauds and scams in the cryptocurrency and Forex sector. According to the FCA, over £27 million has been lost from these scams during the 2018/2019 period. Reports of scams topped 1,800 – 3X versus… Read More

Regtech: FCA Opens Survey to Regulated Firms to Better Understand Costs of Reporting

The UK Financial Conduct Authority (FCA) has long pursued and promoted beneficial Fintech innovation. One very important, and perhaps underappreciated subcategory of Fintech is Regtech or regulation technology. While some jurisdictions have been slow to research the potential for digital regulation and compliance, the FCA… Read More

FCA Announces Cross Border Tests with GFIN, Most Participants are Blockchain Focused

The UK Financial Conduct Authority (FCA) has announced the first cross border tests of the Global Financial Innovation Network (GFIN) – a grouping of global regulators seeking to collaborate on Fintech innovation. The FCA states they received 44 applications for the pilot. After this initial… Read More

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

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 Report on Innovation: “The Progress We Have Made is Significant and Real”

The UK Financial Conduct Authority (FCA) has released a report on Fintech innovation and progress made in the last few years and so far, the feedback is encouraging. It is widely recognized that the UK is a leading, global Fintech hub. This fact would not… Read More

Financial Conduct Authority Includes, AI, Regtech, and Distributed Ledger Technology in their 2019 Research Agenda

Alongside their 2019 Business Plan, the UK Financial Conduct Authority (FCA) published their research agenda for 2019. The FCA states that research plays a fundamental role in their mission of evidence-based policy and staying ahead of trends in financial services. The regulator says their research… Read More

UK Crowdfunding Association Schedules Meeting with FCA to Discuss Concerns Over “Quality of Supervision”

The UK Crowdfunding Association (UKCFA) has scheduled a meeting with the Financial Conduct Authority (FCA) as the group is concerned over the “quality of supervision,” according to a report in the Times. The UKCFA is an association that represents the leading equity crowdfunding platforms in… Read More

UK Financial Conduct Authority Sends Letter to Treasury Select Committee Addressing Mini-Bonds

Charles Randell, Chair of the Financial Conduct Authority, has forwarded a letter to Rt Hon. Nicky Morgan MP, Chair of the Treasury Select Committee on London Capital & Finance. The document addressed concerns regarding the issuance of mini-bonds and investor protection concerns – more specifically… Read More

UK Financial Conduct Authority Issues Consumer Warning Against Bulgarian “Next Coin Market”

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning against a Bulgarian firm, “…claiming to be an FCA-authorised firm offering cryptocurrencies to UK consumers.” The FSA says the company is illegal and has been soliciting UK investors via email containing various… Read More

UK Financial Conduct Authority Releases Two Reports on Cryptocurrency and Consumer Interest

The UK Financial Conduct Authority (FCA) has released two reports on cryptocurrency which were commissioned on behalf of the UK government. The FCA has previously published documents on the emerging “crypto-asset” sector as it seeks to better understand which digital assets should be regulated and… Read More

Revolut Hits Rough Patch as CFO Resigns, Questions Arise Regarding Compliance [u]

Digital challenger bank Revolut has had a rough week. An article in the Telegraph on Friday questioned the bank’s process for monitoring transactions processed by the bank stating a system to prevent sanctions screening and other illicit activity was “switched off.”  The Fintech had apparently… Read More

The Financial Conduct Authority Appoints First Director of Innovation

The UK Financial Conduct Authority (FCA) has appointed its very first Director of Innovation.  According to a tweet by the financial regulator, Nick Cook has been selected to take over the new role. We’re delighted to announce that Nick Cook has been appointed as our… Read More

Disclosure Sandbox: CFPB Updates Sandbox Concept. Not Just for Fintech…

Last September, the Consumer Financial Protection Bureau (CFPB) issued a statement on their proposed regulatory sandbox – a concept trailblazed by the UK Financial Conduct Authority (FCA) and since embraced by multiple regulators around the world. At the time of the earlier announcement, the CFPB… Read More

Deal or No Deal? FCA Publishes Proposals if No Deal Brexit Emerges

The deadline is rapidly approaching for Brexit and still, there is not a mutually agreeable deal in sight. Of course, the date of the divorce could be pushed back but that does not mean preparations should push pause. The UK Financial Conduct Authority is in… Read More

The Global Financial Innovation Network Now Open for Applications

The Global Financial Innovation Network (GFIN) is now open for applications. GFIN is a group of 29 international organisations including the Financial Conduct Authority (FCA) as well as the US Consumer Financial Protection Bureau (CFPB), Monetary Authority of Singapore (MAS), Hong Kong Monetary Authority (HKMA) and… Read More

Crypto Liquidity Platform B2C2 Receives FCA Authorization

B2C2, a UK-based cryptocurrency liquidity platform, has received its authorization from the Financial Conduct Authority (FCA). Founded in 2015, B2C2 claims to be one of the largest cryptocurrency liquidity providers and the leader in electronic OTC trading. The company reported it is trusted by retail… Read More

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

Fineqia Partners with Nivaura on Tokenized Bond Issuance in the UK

Fineqia (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) is reporting a new partnership with Nivaura, according to a release by the company. The partnership will “perform a fully automated tokenized bond issuance and administration, registered and cleared on a public Ethereum blockchain, to conduct its test for issuing… Read More

UK Financial Conduct Authority Issued Warnings About Four-Fifths of the Crypto Companies It Investigated

A freedom-of-information request filed by The Sunday Telegraph shows that four-fifths of 49 companies investigated by the UK’s Financial Conduct Authority (FCA) resulted in warnings about those companies being issued to the public. A total of 67 investigations into crypto operations have been launched by the FCA. 18 investigations are… Read More

Tandem says FCA Crackdown on Overdraft Fees is Long Overdue

Earlier this week, the Financial Conduct Authority (FCA) announced a plan to “fix a dysfunctional market” when it comes to overdraft fees. In 2017, banks generated over £2.4 billion from overdrafts alone, with around 30% from unarranged overdrafts. These fees typically came from individuals who… Read More

Send this to a friend