Tagged: fca

June 26, 2019 @ 3:41 pm By JD Alois  |  

HM Treasury and the Financial Conduct Authority (FCA) recently organized a workshop on assisting low-income renters. Predicated on the fact that rental insurance has “very low take-up” amongst a lower demographic, Treasury and the FCA invited multiple firms to attend an “Access to Contents Insurance… Read More

June 26, 2019 @ 3:26 am By JD Alois  |  

Financial Conduct Authority (FCA) Director of Competition Christopher Woolard testified before the House Financial Services Committee Fintech Task Force today. The other witnesses participating in the hearing included: Paul Watkins, Assistant Director, Office of Innovation, Consumer Financial Protection Bureau (CFPB) Beth Knickerbocker, Chief Innovation Officer,… Read More

June 25, 2019 @ 2:37 pm By JD Alois  |  

While it is a fact we all need bank-like services it is also true we do not necessarily need a traditional bank. The digitization of finance has liberated the masses from paper driven, brick and mortar operations to the bank of the iPhone (or Android… Read More

June 10, 2019 @ 3:48 pm By Samantha Hurst  |  

TokenMarket, a UK-based global investment platform, announced on Monday it has received approval from the FCA to run its Security Token Offering (STO) in the regulatory sandbox. According to TokenMarket, the offering is being conducted under existing UK crowdfunding rules, allow for up to €8 million… Read More

June 10, 2019 @ 1:03 am By JD Alois  |  

Last week, the UK Financial Conduct Authority (FCA) updated the regulatory regime managing the peer to peer lending industry. Overall, the P2P sector saw more rules that increased oversight including a cap on retail investment. Initial comments regarding the rules have been mixed with some… Read More

June 5, 2019 @ 9:13 am By JD Alois  |  

The Financial Conduct Authority (FCA) and the Dutch Authority for the Financial Markets (AFM) have signed a formal agreement to work more closely together as financial services firms look to maintain a foothold in continental Europe. The FCA states that since the UK announced its… Read More

June 5, 2019 @ 8:53 am By JD Alois  |  

The Financial Conduct Authority (FCA) has announced that Baroness Zahida Manzoor CBE has been appointed Chair of the Financial Ombudsman Service. Baroness Manzoor will step into the role in August taking over from Sir Nicholas Montagu who is stepping down after more than seven years in… Read More

June 4, 2019 @ 10:16 am By JD Alois  |  

Julia Groves, Partner and Head of Digital at investment platform, Downing LLP and long-time UK Crowdfunding Association Director, issued a statement on updated rules for loan and investment-based crowdfunding revealed by the UK Financial Conduct Authority (FCA) today. Groves was complimentary of the new rules… Read More

June 4, 2019 @ 7:52 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has published a long-anticipated update to crowdfunding rules. More specifically, the FCA has “enhanced” aspects of investor protection for investors participating in peer to peer lending (P2P). Rules for investment crowdfunding, on the other hand, came out largely unchanged…. Read More

June 3, 2019 @ 2:41 pm By JD Alois  |  

Peer to peer lender Lendy is no more. On May 24, the online lender went into administration. According to the Lendy website: The administrators are working closely with the FCA who consented to their appointment over the Companies. This website will be used to provide… Read More

May 21, 2019 @ 2:01 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has published a report addressing frauds and scams in the cryptocurrency and Forex sector. According to the FCA, over £27 million has been lost from these scams during the 2018/2019 period. Reports of scams topped 1,800 – 3X versus… Read More

May 16, 2019 @ 8:21 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has long pursued and promoted beneficial Fintech innovation. One very important, and perhaps underappreciated subcategory of Fintech is Regtech or regulation technology. While some jurisdictions have been slow to research the potential for digital regulation and compliance, the FCA… Read More

April 29, 2019 @ 2:04 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has announced the first cross border tests of the Global Financial Innovation Network (GFIN) – a grouping of global regulators seeking to collaborate on Fintech innovation. The FCA states they received 44 applications for the pilot. After this initial… Read More

April 29, 2019 @ 1:47 pm By JD Alois  |  

It is UK Fintech Week in London and there has been a flurry of announcements regarding new programs designed to boost the status of London as a leading Fintech hub. In a speech this morning, Christopher Woolard, Executive Director of Strategy and Competition at the… Read More

April 29, 2019 @ 11:55 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has released a report on Fintech innovation and progress made in the last few years and so far, the feedback is encouraging. It is widely recognized that the UK is a leading, global Fintech hub. This fact would not… Read More

April 18, 2019 @ 8:27 am By JD Alois  |  

Alongside their 2019 Business Plan, the UK Financial Conduct Authority (FCA) published their research agenda for 2019. The FCA states that research plays a fundamental role in their mission of evidence-based policy and staying ahead of trends in financial services. The regulator says their research… Read More

April 15, 2019 @ 10:14 am By JD Alois  |  

The UK Crowdfunding Association (UKCFA) has scheduled a meeting with the Financial Conduct Authority (FCA) as the group is concerned over the “quality of supervision,” according to a report in the Times. The UKCFA is an association that represents the leading equity crowdfunding platforms in… Read More

April 2, 2019 @ 11:12 am By JD Alois  |  

Charles Randell, Chair of the Financial Conduct Authority, has forwarded a letter to Rt Hon. Nicky Morgan MP, Chair of the Treasury Select Committee on London Capital & Finance. The document addressed concerns regarding the issuance of mini-bonds and investor protection concerns – more specifically… Read More

March 8, 2019 @ 1:05 am By Cali Haan  |  

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning against a Bulgarian firm, “…claiming to be an FCA-authorised firm offering cryptocurrencies to UK consumers.” The FSA says the company is illegal and has been soliciting UK investors via email containing various… Read More

March 7, 2019 @ 5:42 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has released two reports on cryptocurrency which were commissioned on behalf of the UK government. The FCA has previously published documents on the emerging “crypto-asset” sector as it seeks to better understand which digital assets should be regulated and… Read More