Tagged: fca

July 12, 2023 @ 12:55 pm By JD Alois  |  

The Chief Executive of the UK Financial Conduct Authority (FCA), Nikhil Rathi, addressed in a speech the emergence of Artificial Intelligence (AI) and the role of Big Tech in financial services. The speech was delivered today at the Economist Impact Finance Transformed event. Rathi said… Read More

July 10, 2023 @ 7:01 pm By JD Alois  |  

The Financial Conduct Authority (FCA) has issued a statement on its ongoing crackdown of crypto ATMs in the UK that are not authorized. The FCA says it has investigated 34 locations in the UK since the start of the year, typically working with other law… Read More

July 7, 2023 @ 12:34 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has commented on the rate spread between what banks are receiving in interest rate returns and what they are giving their deposit holders.  The regulator said in a studied, underwhelming tone that the “decision-making has been slow” for banks… Read More

July 2, 2023 @ 2:45 pm By Omar Faridi  |  

Chris Ansara, CEO of UK-based Regtech startup docStribute and Chair, Phil Shelley, have shared their career insights on the necessity of digital transformation in order to meet FCA regulations as well as decarbonize global business. As many sectors struggle to meet regulatory demands, particularly financial… Read More

June 30, 2023 @ 9:51 am By JD Alois  |  

The Financial Services and Markets Act 2023 has been granted Royal Assent. The comprehensive legislation aims to grow the UK economy while enabling innovation. London has long been a top global financial services center. This leadership has morphed into the UK becoming one of the… Read More

June 13, 2023 @ 10:54 pm By JD Alois  |  

Bitstamp is reporting that it has secured registration as a cryptoasset service provider by the UK Financial Conduct Authority. Bitstamp currently claims 52 licenses and registrations secured with financial regulators across the globe. Firms carrying out specific cryptoasset activities in the UK must comply with… Read More

June 9, 2023 @ 2:17 pm By Omar Faridi  |  

Clausematch is pleased to announce it has signed an agreement with Compliance Consultant, experts in FCA compliance and authorisation. The partnership is “aimed at strengthening current compliance strategies and best practices with advanced policy management and compliance automation solutions.” Compliance Consultant “provides regulatory compliance guidance… Read More

June 7, 2023 @ 10:53 pm By Omar Faridi  |  

Archax, the FCA regulated digital asset exchange, broker, and custodian, today announced the appointment of Ben Zennou as its new Head of Crypto Sales. Reporting into the CRO, Zennou will be “responsible for leading the company’s continued growth in crypto markets, including the establishment of… Read More

June 7, 2023 @ 8:30 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has issued new rules for crypto promotions. The rules are said to align with other financial services offerings. CryptoUK, an association representing the UK’s digital asset industry, has issued a statement on the marketing rules. Su Carpenter, Director of… Read More

June 7, 2023 @ 7:01 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has introduced new rules for the digital asset or crypto asset industry. The FCA describes the new rules as “tough,” incorporating a “cooling off period” for new investors – commencing on October 8, 2023. The marketing rules are part… Read More

June 7, 2023 @ 8:56 am By Omar Faridi  |  

The Joint Regulatory Oversight Committee (JROC) has recently set out an ambitious program of work “to take forward recommendations for the next phase of open banking in the UK.” This involves “setting up dedicated workstreams to action the six key themes and priorities outlined in… Read More

May 22, 2023 @ 4:07 pm By JD Alois  |  

Collateral UK, once a peer-to-peer lending platform that went into insolvency in 2018, has seen fraud convictions of its founders. According to the Financial Conduct Authority that filed the charges, Peter Currie was convicted of two counts of fraud and one of money laundering. His… Read More

May 20, 2023 @ 10:34 am By Omar Faridi  |  

MerQube UK Limited, a key player focused on the development of technology for indexing and rules-based investing, announces that it has been authorized by the UK’s Financial Conduct Authority (FCA) “to carry on the regulated activity of administering benchmarks under Article 34 of the Regulation… Read More

May 2, 2023 @ 5:30 pm By JD Alois  |  

While the United States continues to pursue a rule-upon-regulation strategy that undermines public listings, increasing cost and compliance requirements, the UK is looking to improve the number of public firms by simplifying its listing rules. The policy objective has been discussed for years, and today… Read More

April 6, 2023 @ 11:33 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) and Advertising Standards Authority (ASA) have posted a notice putting influencers on notice not to promote “get rich quick” schemes or pursue “illegal financial promotions.” The FCA recently reported they pursued interventions 8582 times in 2022, more than 14X… Read More

March 31, 2023 @ 8:08 am By Omar Faridi  |  

Archax, the FCA-regulated digital asset exchange, broker, and custodian, today announced the launch of its tokenisation engine – “enabling the creation of tokens backed by any regulated or unregulated real-world or traditional asset.” Leveraging the benefits of Web 3.0 and blockchain technology, this new service… Read More

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