Tagged: fca

January 10, 2022 @ 10:30 am By Omar Faridi  |  

Innovate Finance, the independent industry body that represents and advances the international Fintech community in the United Kingdom, explains that it aims to accelerate the UK’s role in the financial services sector by “directly supporting the next generation of technology-led innovators.” The UK Fintech sector… Read More

January 5, 2022 @ 9:56 am By JD Alois  |  

Baanx has received regulatory approval to provide crypto asset services by the UK Finacial Conduct Authority (FCA). Baanx is registered as a crypto asset business under the Money Laundering, Terrorist Financing, and Transfer of Funds (Information of the Payer) Regulations 2017 (MLR 2017). Baanx is… Read More

January 3, 2022 @ 10:04 am By Omar Faridi  |  

During a speech delivered earlier this month, Edwin Schooling Latter, Director of Markets and Wholesale Policy and Wholesale Supervision at the UK’s Financial Conduct Authority (FCA), went over the remaining actions companies must take, as the end of the year, when “the majority of LIBOR… Read More

December 30, 2021 @ 8:52 am By Omar Faridi  |  

On 21 December 2021, a special administration order was reportedly made by the Court in relation to Viola Money “under the Payment and Electronic Money Institution Insolvency Regulations 2021.” The Viola Money website explains its service as follows: Since 2012, we have been providing simple,… Read More

December 26, 2021 @ 11:19 pm By Omar Faridi  |  

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, welcomes the fact the UK’s Financial Conduct Authority (FCA) has “recognized current levels of Financial Services Compensation Scheme (FSCS) funding are unsustainable and is committed to reform. But current… Read More

December 20, 2021 @ 11:40 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has fined HSBC Bank plc £63,946,800 for “failings in its anti-money laundering processes.” As noted in an update from the FCA, HSBC used automated processes to “monitor hundreds of millions of transactions a month to identify possible financial crime.”… Read More

December 14, 2021 @ 8:59 am By Omar Faridi  |  

British bank NatWest has reportedly been fined £264.8 million (appr. $354.30 million) on Monday (December 14, 2021) for failing to comply with appropriate money laundering regulations in a case that marked the first time that the United Kingdom’s financial regulators pursued criminal charges for these… Read More

December 13, 2021 @ 10:38 am By JD Alois  |  

Genesis Custody Limited has been authorized by the UK Financial Conduct Authority (FCA) as a Registered Cryptoasset Business. Genesis is a digital currency prime brokerage. Genesis Custody provides multi-asset cold storage for full custody of client assets. Genisis states that clients’ private keys are fully… Read More

December 6, 2021 @ 10:29 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) issued a statement last week announcing rule changes designed to boost share listings on UK exchanges. At the beginning of 2021, the Kalifa Review of Fintech was published providing a roadmap for the UK to maintain and improve the… Read More

November 12, 2021 @ 3:06 pm By Tony Zerucha  |  

Earlier this month the United Kingdom’s Competition and Markets Authority (CMA) provided an update on the current state of open banking in the region. It comes after the release of a report from an independent investigator of allegations against the Open Banking Implementation Entity (OBIE)…. Read More

October 25, 2021 @ 11:25 pm By JD Alois  |  

Crypterium, a crypto wallet app that reports more than 400,000 clients in over 170 countries, has been registered with the UK Financial Conduct Authority  (FCA) to provide services to UK customers. According to a release, this registration ensures that Crypterium can continue to provide its… Read More

October 21, 2021 @ 9:31 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has issued a statement to expand its oversight to cover “paid for advertising and user-generated content.” The securities regulator asks that the Online Safety bill should designate content relating to fraud offenses as priority illegal content and thus require… Read More

October 14, 2021 @ 8:08 am By Omar Faridi  |  

Digital bank Zopa has confirmed the appointment of Helen Beurier as its first Chief People Officer. With more than 25 years of professional experience across some of the largest FMCG, retail, and pharma household names, Helen brings “a wealth of experience to the digital bank… Read More

October 6, 2021 @ 10:23 pm By Tony Zerucha  |  

DirectID, a global credit risk platform, announced today it has partnered with MockBank, a Fintech firm providing sandboxing and testing functionality for open banking connections. The partnership will give organizations using the DirectID platform the ability to effortlessly test bank connections, without the need to… Read More

October 2, 2021 @ 9:16 am By Tony Zerucha  |  

UK-based money app Ziglu this week its £1 million crowdfund oversubscribed in 81 minutes, beating its previous record of three hours. The campaign was launched on Seedrs, an equity crowdfunding platform. Ziglu is raising equity capital at a pre-money valuation of £85 million. Ziglu’s previous… Read More

September 29, 2021 @ 8:28 am By Omar Faridi  |  

WealthKernel, the Wealthtech platform of digital investment solutions, reveals that it has teamed up with Topia, a UK-headquartered app provider that aims to empower Millennials who want to reach financial freedom and retire early. Through the partnership, Topia will be using WealthKernel’s investing API and… Read More

September 29, 2021 @ 7:49 am By Omar Faridi  |  

One of the “longest-running” crypto exchanges, CoinJar UK Limited has been “officially registered” by the Financial Conduct Authority (FCA) as “a Cryptoasset Exchange Provider and Custodian Wallet Provider.” As mentioned in an update shared with CI: “In January 2020, new regulatory powers were introduced to… Read More

September 26, 2021 @ 1:34 pm By Omar Faridi  |  

Shield, the Workplace Intelligence platform for compliance teams, reveals that it has teamed up with LeapXpert, a provider of in front-office conversational solutions. LeapXpert’s Federated Messaging Orchestration Platform (FMOP) has been designed to support the real-time control, monitoring, and capture of conversations on mobile messaging… Read More

September 6, 2021 @ 12:38 pm By JD Alois  |  

In a speech delivered at the Cambridge International Symposium on Economic Crime, FCA and PSR Chair Charles Randall discussed some hot topics in the financial services sector – fraud and scams. More specifically, crypto scams and the regulation of digital assets or tokens. Currently, the… Read More

September 1, 2021 @ 12:21 pm By JD Alois  |  

Two weeks ago, the UK Financial Conduct Authority posted a “Dear CEO” letter directed at investment crowdfunding platforms. The letter, signed by Debbie Gupta, Director of Consumer Investments Supervision, cautioned platforms on both the risk of investments being offered to investors as well as the… Read More