Tagged: fca

July 16, 2020 @ 10:09 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has published draft guidance on their expectations for banks and availability to cash in a market that is seeing a growing number of bank branches closing and ATMs going away. The regulator states that it wants to ensure that… Read More

July 16, 2020 @ 8:40 am By JD Alois  |  

The Financial Conduct Authority (FCA) and the City of London Corporation are partnering on a digital sandbox designed to support firms that are addressing the COVID-19 challenge. The digital sandbox will support both big finance and early state Fintechs seeking to play a role in… Read More

July 14, 2020 @ 10:39 pm By Omar Faridi  |  

An Islamic, or Shariah-compliant, peer to peer lending platform has been introduced in the United Kingdom. The new P2P lender aims to provide funding to the nation’s SMEs, which might be struggling to maintain operations due to the economic challenges created by COVID-19. Qardus, an… Read More

July 10, 2020 @ 4:38 pm By Omar Faridi  |  

The UK’s Consumer Finance Association (CFA), a trade association of non-bank lenders that represents alternative consumer credit providers, recently questioned whether forbearance during the COVID- 19 crisis should be reflected or shown on credit files. The Financial Conduct Authority (FCA) has provided guidelines that may… Read More

July 7, 2020 @ 9:30 am By Samantha Hurst  |  

Crypto Facilities, a subsidiary of Kraken and European cryptocurrency exchange, announced on Monday it has obtained a Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA). Crypto Facilities reported with this new license, it will be able to expand its product range… Read More

July 3, 2020 @ 8:17 am By Olivia Halsall  |  

Electronic Payment Solutions Ltd. (ELPASO) was founded in 2017 by a group of IT geeks, corporate bankers and entrepreneurs is a digital platform for those “who wish to go international in their daily needs like international cross-border payments and currency exchange”, according to its website…. Read More

July 2, 2020 @ 7:41 am By Olivia Halsall  |  

On July 1st, Nausicaa Delfas, Executive Director of International and member of the Executive Committee at the FCA, delivered a speech for a series of webinars offered by City & Financial Professional Virtual Roundtables. The focus of the speech homed in on Brexit, Covid-19 and a suitable… Read More

June 30, 2020 @ 10:41 pm By JD Alois  |  

  Transferwise, a top UK based Fintech and transfer/payments platform, has received Financial Conduct Authority  (FCA) approval to offer retail investment services, according to a report. Transferwise has emerged as a global stealth bank providing border-free currency services with ultra-low-cost transfers attacking the domain of… Read More

June 30, 2020 @ 10:15 am By JD Alois  |  

The UK is experiencing growing interest in cryptoassets, according to the UK Financial Conduct Authority (FCA). The research by the FCA states that 2.6 million UK consumers have purchased digital assets showing a dramatic 1.1 million increase since research completed by the FCA last year…. Read More

June 29, 2020 @ 3:09 pm By JD Alois  |  

  On June 26, the UK Financial Conduct Authority (FCA) imposed several “requirements” on Wirecard‘s (WDI:DE) activities in the UK. The move was in response to Wirecard’s missing €1.9 billion in funds along with allegations of fraud and other nefarious activities. After an audit uncovered… Read More

June 22, 2020 @ 5:48 pm By JD Alois  |  

  The clock is ticking for UK based digital asset, or crypto-asset firms operating in the UK to register with the Financial Conduct Authority (FCA). Applications must be submitted by June 30, 2020. In a statement earlier today by the FCA, the agency reminded the… Read More

June 22, 2020 @ 11:34 am By JD Alois  |  

Nikhil Rathi has been appointed as the new Chief Executive of the UK Financial Conduct Authority (FCA). Rathi is currently the Chief Executive of the London Stock Exchange and prior to that, he was the Director, Financial Services Group at HM Treasury. Rathi is expected… Read More

May 23, 2020 @ 1:18 pm By Omar Faridi  |  

Fintech firm Credit Kudos, the “challenger credit bureau,” has teamed up with Big Four auditing firm PricewaterhouseCoopers (PwC), in order to launch a digital banking “ecosystem sandbox.” Credit Kudos is regulated by the UK’s Financial Conduct Authority (FCA). It aims to provide a different and… Read More

April 20, 2020 @ 1:25 pm By JD Alois  |  

Fintech PrimaryBid has launched a call to action to empower “ordinary investors” to purchase shares in deeply discounted offerings. Earlier this month, the UK Financial Conduct Authority (FCA) announced a series of measures aimed at assisting companies to raise new share capital in response to… Read More

April 14, 2020 @ 8:16 am By Omar Faridi  |  

New York-based BitOoda, a digital asset and Fintech firm, recently published its cryptocurrency market regulatory analysis report. Governments throughout the world are struggling to deal with the devastating economic consequences of the deadly Coronavirus (COVID-19) pandemic. The BitOoda team reveals: “We’ve noted an uptick in… Read More

March 27, 2020 @ 3:05 pm By JD Alois  |  

Uncle Buck, a short term or payday lender, has gone into administration due to an action taken by the Financial Conduct Authority (FCA). The FCA posted a notice today that Uncle Buck was “failing to meet the adequate resources Threshold Condition.” The severity of the… Read More

March 26, 2020 @ 10:26 pm By Omar Faridi  |  

The coronavirus (COVID-19) pandemic has forced large numbers of professionals to work from home. Europe’s regulatory authorities have decided to temporarily relax MiFID II rules, which may apply when recording telephone conversations. MiFID II (Markets in Financial Instruments Directive) is a legislative framework introduced by… Read More

March 25, 2020 @ 10:31 am By JD Alois  |  

Fintech Chip has received approval from the Financial Conduct Authority (FCA) as an authorized payment institution. In a release, Chip described the designation as a major milestone with the next step being the introduction of FSCS protected savings accounts. Chip is an app that automatically… Read More

March 20, 2020 @ 9:49 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has published new guidance for mortgage lenders and administrators and small business lenders. The guidance is in support of programs outlined by the Chancellor earlier this week. Under the plan, borrowers will be able to receive certain relief during… Read More

March 19, 2020 @ 1:00 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) is widely recognized as the leading securities regulator when it comes to fostering Fintech innovation. The FCA has engendered an innovation-friendly ecosystem due to multiple operational characteristics but one of them, the Regulatory Sandbox, has been emulated widely around… Read More