Tagged: fca

September 5, 2023 @ 10:01 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) indicated it is moving forward with a review of the treatment of “politically exposed persons” (PEPs). The FCA distributed today a list of areas it will review in regard to the treatment of accounts at financial services firms, including:… Read More

September 1, 2023 @ 12:17 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has announced it will analyze “lenders’ fair value assessments” to determine if they are providing consumers with appropriate savings products. Earlier this year, the FCA commented on the spread between what banks receive in interest rate returns and what… Read More

August 31, 2023 @ 9:26 am By Omar Faridi  |  

Algbra, the global ethical and Sharia-compliant technology platform with its UK finance app, has been awarded B Corp status “after demonstrating its credentials of the highest ESG standards.” This reportedly makes Algbra one of the few financial institutions in the UK “to achieve this status,… Read More

August 24, 2023 @ 10:12 pm By Omar Faridi  |  

OANDA Global Corporation announced that it has acquired a majority interest in Coinpass Limited, a crypto asset firm registered with the United Kingdom’s Financial Conduct Authority (FCA). Coinpass was founded in 2018 in order “to meet a growing demand for fast and secure access to… Read More

August 20, 2023 @ 10:11 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) is setting out their expectations for crypto-asset businesses that need “to comply with a change in money laundering legislation legislated by government in July 2022.” From 1 September 2023, crypto-asset businesses in the UK will be “required to collect,… Read More

August 14, 2023 @ 11:44 pm By Omar Faridi  |  

Following a review of fund managers’ value assessments, the UK Financial Conduct Authority (FCA) has found “that while many firms have better practices in place, some still require improvement.” In 2017, the FCA published its Asset Management Market Study, which “found evidence of weak demand-side… Read More

July 31, 2023 @ 9:20 am By JD Alois  |  

The Financial Conduct Authority  (FCA) now has a higher duty when it comes to “consumer protection.”  As of today, the regulator has a new standard when it comes to financial services oversight. As outlined by the FCA: “You should expect:  helpful and accessible customer support,… Read More

July 25, 2023 @ 1:23 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has issued a statement on the recent bust-up over Coutts canceling a high-profile account due to its internal “values.”  Coutts, which is owned by NatWest, shut down the account of former UKIP leader and noted Brexit supporter Nigel Farage… Read More

July 23, 2023 @ 10:41 pm By Omar Faridi  |  

Following 2 successful pilots, the UK Financial Conduct Authority’s (FCA) Digital Sandbox will be “made available permanently on 1 August 2023, opening up the platform to an even broader range of innovative businesses, start-ups and data providers.” The Digital Sandbox is a testing environment that… Read More

July 21, 2023 @ 9:24 am By Omar Faridi  |  

Archax, the FCA-regulated digital asset exchange, broker, and custodian, today announced that it has successfully gained ISO27001 certification; a testament to its commitment to meeting strict security and compliance standards. This certification is backed by the International Standards Organization (ISO), “providing assurance for all Archax… Read More

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