Tagged: fca

June 23, 2022 @ 9:49 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) says it is dealing with scams faster by scanning thousands of websites daily and shutting them down when a nefarious actor appears. The FCA reports that between May 2021 and April 2022, it added 1,966 possible scams or frauds… Read More

June 23, 2022 @ 9:37 am By JD Alois  |  

Wirex, a global payments platform active in the crypto sector, will be restarting services for UK consumers following “constructive dialogue” with the UK Financial Conduct Authority (FCA). Wirex, based in London, reports over 5 million customers worldwide. In March 2021, Wirex announced it would pause… Read More

June 17, 2022 @ 3:36 pm By Omar Faridi  |  

Ashman has announced its UK banking license (Authorized with Restrictions or ‘AwR’), which means it has been authorized and regulated “to trade with restrictions by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).” Ashman, which was founded by real-estate entrepreneurs Ashkin Mittal and… Read More

June 16, 2022 @ 8:50 am By JD Alois  |  

The cost of living is rising higher and credit is along for the ride. With no end in sight to rising interest rates and inflation, the UK Financial Conduct Authority (FCA) is asking lenders to help consumers during a difficult time. In a release, the… Read More

May 22, 2022 @ 6:48 pm By JD Alois  |  

This past week, Financial Conduct Authority (FCA) Chairman Charles Randell reviewed the challenges of securities regulation in a speech delivered at the Centre for Commercial Law Studies, Queen Mary University of London.  The FCA has played a key and vital role in enabling Fintech innovation… Read More

May 17, 2022 @ 10:28 pm By Omar Faridi  |  

Griffin, a UK Banking-as-a-Service (BaaS) Fintech, recently announced the completion of a key step in its application for a banking license. Griffin has submitted its application to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). John Weguelin, Griffin Chair, stated: “This is… Read More

May 13, 2022 @ 11:45 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has posted another warning about digital assets or cryptoassets. The FCA points to “recent social media posts” promoting digital assets including NFTs. The FCA tells consumers to be ready to lose all of their money when participating in a… Read More

May 6, 2022 @ 9:48 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has distributed a Dear CEO letter to firms pitching credit in relation to their potentially misleading advertising. The FCA states that it has issued almost 28,000 consumer credit firms warning them not to use terms such as “no credit… Read More

April 22, 2022 @ 5:23 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has published an expected report on challenger banks and financial crime controls which states that some are falling short when it comes to diligence against malfeasance such as money laundering. The review, conducted during 2021, said that some challenger… Read More

April 21, 2022 @ 9:48 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has received a forfeiture order for £2,000,000 regarding erstwhile Fintech QPay Europe Limited, a firm that at one point sought to be regulated by the FCA. The money was initially frozen in “urgent proceedings” initiated by the FCA in… Read More

April 11, 2022 @ 9:35 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has posted a letter indicating it was OK with Amigo Loans’ (AMGO.L) plans to compensate customers that has been apparently harmed while transgressing lending rules. A previous attempt to mollify regulators failed.  Amigo is a subprime lender that offers… Read More

April 5, 2022 @ 9:51 am By JD Alois  |  

The UK Financial Conduct Authority has made several new hires according to a release. The appointments include a Fintech executive who steps into the Finance Director role. According to the FCA, Craig Chapman will join the regulator as Finance Director in May. Chapman is currently… Read More

March 31, 2022 @ 9:55 am By JD Alois  |  

Today is the deadline (March 31, 2022) for crypto firms to be registered with the UK Financial Conduct Authority. Reports have filtered in that multiple UK-based crypto firms have abandoned the effort with some planning a departure from Great Britain. The list of UK crypto… Read More

March 31, 2022 @ 8:45 am By Omar Faridi  |  

The UK’s FCA recently revealed that they are interested in what the industry “sees as the role of the regulator in the provision of synthetic data.” The FCA pointed out that they are particularly interested in synthetic data when it comes to their “competition remit,… 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 25, 2022 @ 8:58 am By Tony Zerucha  |  

The United Kingdom’s Financial Conduct Authority (FCA) this week again warned consumers about some of the risks it sees associated with cryptocurrencies. While acknowledging benefits cryptoassets bring, such as the abilities to reduce costs and increase efficiencies, the FCA said they also present risks to… Read More

March 21, 2022 @ 8:06 am By Omar Faridi  |  

Townsend Lansing, Head of Product at CoinShares and Nick du Cros, the Head of Compliance and Regulatory affairs at CoinShares, have noted that there appears to have been “quite a bit of confusion” in the digital assets community recently regarding the proposals in the EU… Read More

March 17, 2022 @ 11:56 am By JD Alois  |  

EQONEX Limited (NASDAQ: EQOS) has selected Jonathan Farnell as its new CEO and Member of the Board of Directors. Farnell was previously the Head of Binance UK and CEO of Bifinity. The current interim CEO Andrew Eldon will revert back to his primary roles of… Read More

March 16, 2022 @ 9:30 am By Omar Faridi  |  

The Financial Conduct Authority (FCA), the United Kingdom’s financial services industry regulator, is reportedly looking for a professional to head the digital assets unit and build up a new team. This, according to a job posting via LinkedIn. The department head will be required to… Read More

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