Tagged: fca

March 19, 2023 @ 4:12 pm By JD Alois  |  

Several government entities have commented on UBS’s recently announced takeover of Credit Suisse. The acquisition was supported by the Swiss government. Credit Suisse faced a crisis of confidence this past week, which could have spilled over into this coming week. Swiss government officials worked to… Read More

March 17, 2023 @ 2:45 pm By Omar Faridi  |  

Archax, which claims to be the first FCA regulated digital asset exchange, broker and custodian, announced the official launch of its primary raise platform and its first postings including ScribeStar and Circularr. The platform will give start-ups and early-stage businesses “access to raise capital from… Read More

March 11, 2023 @ 10:35 am By Omar Faridi  |  

Railsr, the embedded finance platform, has today announced that it has been purchased and re-capitalized by a consortium “led by D Squared Capital, and that a change of control has been agreed with the Financial Conduct Authority in the UK.” This move “ensures business continuity… Read More

March 8, 2023 @ 12:40 pm By JD Alois  |  

Earlier today, the UK Financial Conduct Authority (FCA) announced another enforcement action taken against crypto ATMs. This time, the FCA targeted unauthorized crypto ATMs operating in East London. The FCA requires all crypto firms, including ATMs, to be registered and adherent to anti-money laundering rules…. Read More

March 8, 2023 @ 8:50 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has announced taking action against “unregistered crypto ATMs.” Last year, the FCA announced it would shut down crypt ATMs that were not registered with the agency and in compliance with anti-money laundering rules. At that time, none of the… Read More

March 3, 2023 @ 5:42 am By Omar Faridi  |  

Floww Markets Limited has recently received Financial Conduct Authority (FCA) authorization, which allows the launch of an innovative private market investment service that aims “to be the world’s first global private market ecosystem.” FlowwMarkets can “allow companies to raise capital more easily and cost-effectively, transforming… Read More

February 21, 2023 @ 8:05 am By Omar Faridi  |  

The Financial Conduct Authority (FCA) is seeking views on “what regulatory change might help the UK’s asset management industry innovate, better support the investors it serves and boost competition.” The UK is a leading center for asset management, “with over £11 trillion of assets managed… Read More

February 18, 2023 @ 4:19 pm By JD Alois  |  

Payoneer (NASDAQ: PAYO), a payments Fintech, has been approved to provide services under the UKs Electronic Money License. Payoneer is a  global platform that currently provides services for millions of SMEs, particularly in emerging markets, to pay and get paid, manage their funds, and more…. Read More

February 15, 2023 @ 6:54 am By Omar Faridi  |  

The Financial Conduct Authority (FCA) has used its powers “to enter and inspect several sites around Leeds suspected of hosting illegally operated crypto ATMs.” The FCA gathered evidence from several sites “around the city as part of a joint operation with West Yorkshire Police’s Digital… Read More

February 13, 2023 @ 11:37 am By Omar Faridi  |  

Archax, the first FCA-regulated digital securities exchange broker and custodian, announced a partnership with ScribeStar, the digital capital markets documentation and compliance platform, in order “to create a fully digital issuance and admissions experience for companies accessing the Archax markets.” Archax’s institutional-grade, regulated exchange and… Read More

January 23, 2023 @ 11:42 pm By Omar Faridi  |  

Nova Credit UK, a wholly owned subsidiary of Nova Credit, has received the requisite scope of permissions in order “to provide credit references in the UK from the Financial Conduct Authority (FCA).” Through its Nova Passport technology, the firm intends “to make it easier, faster… Read More

January 21, 2023 @ 10:17 am By Omar Faridi  |  

Channel Capital has appointed Bhoomika Kesaria as Head of Investor Relations. Channel is an FCA-regulated alternative investment fund manager (AIFM) “specializing in fintech, working capital and trade finance investments.” Since 2014, the London-headquartered company has “deployed more than $9 billion of assets across fintech lending and… Read More

December 22, 2022 @ 11:38 pm By JD Alois  |  

Hidden Road is reporting that it has been granted registration as a digital asset firm in the UK by the Financial Conduct Authority (FCA). This enables Hidden Road to offer products in spot and derivatives of FX and digital assets. Hidden Road says it is… Read More

December 22, 2022 @ 2:54 pm By Omar Faridi  |  

Following the news that British lender TSB Bank was fined $48.65m ($59.07m) by the Financial Conduct Authority and the Prudential Regulation Authority over “a botched IT platform migration that left two million customers locked out of their accounts in 2018,” Chris Dinga, Payments Analyst at… Read More

December 21, 2022 @ 10:12 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has issued a statement on its objectives. As part of a three-year strategy, the financial regulator said it would focus on reducing and preventing harm, setting and testing higher standards while promoting competition. The FCA claims that its new… Read More

December 21, 2022 @ 8:57 am By Omar Faridi  |  

LHV UK announced that it will start issuing Small Medium Enterprise (SME) loans as the Financial Conduct Authority (FCA) approved the company’s Annex I financial institution registration, “a prerequisite to issuing loans in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of… Read More

December 6, 2022 @ 11:07 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has outlined new rules to stymie financial promotions that are misleading, illegal or unfair. Simultaneously, the FCA has kicked off a consultation to garner feedback on the new rules. The goal is to halt “rogue financial promotions.” Currently, any… Read More

November 28, 2022 @ 9:45 am By JD Alois  |  

BVNK has reportedly gained a UK Electronic Money Institution (EMI) Licence via the acquisition of System Pay Services Limited (SPS Ltd). SPS has held an EMI license authorized by the Financial Conduct Authority (FCA) since 2020. The deal was approved by the FCA. BVNK is… Read More

November 22, 2022 @ 11:58 pm By JD Alois  |  

The Financial Conduct Authority (FCA) is worried about investment apps that are designed to encourage trading. The regulator issued a statement and report yesterday, warning securities trading firms that offer apps to review the design of these services that are crafted to boost trading leveraging… Read More

November 20, 2022 @ 12:23 pm By Omar Faridi  |  

The Financial Conduct Authority has publicly censured Mohammad Ataur Rahman Prodhan, the former Chief Executive Officer of Sonali Bank (UK) Limited (SBUK) “for anti-money laundering (AML) failings.” Prodhan was “the senior manager at SBUK with responsibility for the establishment and maintenance of effective AML systems… Read More