Tagged: fca

July 8, 2016 @ 8:43 am By JD Alois  |  

The UK Peer to Peer Finance Association (P2PFA) has released a comment on the forthcoming review of crowdfunding rules by the Financial Conduct Authority (FCA). The P2PFA called the post-implementation review of crowdfunding rules an opportunity to ensure an appropriate balance of regulation protecting investors… Read More

July 8, 2016 @ 8:28 am By JD Alois  |  

The Financial Conduct Authority (FCA) has announced a “call for input” in preparation for an expected review of existing crowdfunding regulations in the UK. The FCA will be revisiting rules surrounding investment based crowdfunding including both debt and equity. In early 2015, the FCA conducted an… Read More

June 26, 2016 @ 4:03 pm By JD Alois  |  

The United Kingdom has been at the forefront of Fintech innovation. While there are many reasons for the UK playing a lead role in new forms of finance several variables may be distilled from the list. First, the country is very supportive of an entrepreneurial/market-based… Read More

June 24, 2016 @ 7:46 am By JD Alois  |  

The Financial Conduct Authority (FCA) has published a statement on the EU Referendum or Brexit and the UK’s decision to depart.  It is republished below.   On 23 June, the UK voted to leave the European Union (EU). This has significant implications for the UK…. Read More

June 2, 2016 @ 6:01 pm By JD Alois  |  

  The Chairman of the UK Parliament Treasury Committee has written both Tracey McDermott, head of the FCA, and Andrew Bailey, Deputy Governor of the Bank of England for Prudential Regulation, to enquire if consumers may benefit from further regulation of the peer to peer… Read More

May 12, 2016 @ 10:28 am By Erin Hobey  |  

The UK and Singapore have established a “fintech bridge” that will help financial technology firms and investors from each country gain access to the other. Billed as the first of its kind, the bridge enables the UK’s Financial Conduct Authority (FCA) and the Monetary Authority of Singapore… Read More

May 9, 2016 @ 1:50 pm By JD Alois  |  

The Financial Conduct Authority (FCA) is accepting applications now for its newly minted regulatory Sandbox.  Applicants have until July 8th to sign up for a chance to be part of a regulatory “safe space” to experiment and challenge existing financial norms. Christopher Woolard, FCA Directory… Read More

April 22, 2016 @ 3:59 pm By JD Alois  |  

Lending Works, a UK-based peer to peer lender, has surveyed its investor base and concluded that a solid percentage of registered users intend on using the new Innovative Finance ISA (IF ISA). According to their data, 89% of respondents indicate they will use the retirement… Read More

April 5, 2016 @ 10:13 am By JD Alois  |  

The Financial Conduct Authority (FCA), UK’s securities regulator, has published its business plan for the coming year. The FCA is in a period of transition as interim CEO Tracey McDermott, will be transitioning out as her replacement Andrew Bailey takes the helm of the agency… Read More

March 23, 2016 @ 10:55 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) have inked an agreement to support innovative businesses seeking to gain entrance into each others markets.  The unique arrangement will see financial regulators looking to reduce bureaucratic red tape to help… Read More

March 7, 2016 @ 7:28 am By JD Alois  |  

Uncle Buck, a short term or payday lender, has received Financial Conduct Authority authorisation (FCA), according to information provided by the platform.  Representatives state the FCA approval comes following extensive assessment of business practices and management. Uncle Buck has welcomed the increased regulation of the… Read More

March 1, 2016 @ 8:03 am By JD Alois  |  

In July 2014, the Financial Conduct Authority published the results of the general insurance add-ons market study which showed that competition was not working well for many consumers. In June 2015, the regulator proposed a number of options for publishing product information, including: claims ratio… Read More

February 25, 2016 @ 8:54 am By JD Alois  |  

The forthcoming Innovative Finance ISA (IFISA) launches on April 6, 2016.  This new savings vehicle is expected to drive value for both investors and peer to peer lenders alike.  For investors, the benefit is a better risk-adjusted return. All peer to peer lenders deliver far… Read More

February 24, 2016 @ 9:03 am By JD Alois  |  

Jake Wombwell-Povey, CEO & co-founder of Goji Holdings – a service provider for P2P platforms offering Innovative Finance ISAs (IFISA), has shared a comment letter submitted to HM Revenue & Customs.  According to the missive, the Financial Conduct Authority (FCA) and HMRC are not quite… Read More

February 19, 2016 @ 9:04 am By JD Alois  |  

The Financial Conduct Authority (FCA) has published a report on due diligence and assessing suitability of investments for clients. This is an important subject for traditional finance, as well as new asset classes. As all finance moves online access to investment opportunity will expand to… Read More

February 16, 2016 @ 7:09 pm By JD Alois  |  

    The University of Cambridge Centre for Alternative Finance and Nesta have released their much-anticipated report on alternative forms of finance tracking results for 2015. The research was completed in partnership with KPMG and with the support of CME Group Foundation. Entitled”Pushing Boundaries”, the… Read More

February 9, 2016 @ 7:14 am By JD Alois  |  

The Achilles Macris, a former JP Morgan Chase executive and boss of the legendary London Whale, was hit with a £729,900 fine for “failing to be open and cooperative. The penalty was assessed by the Financial Conduct Authority (FCA).  Mark Steward, Director of Enforcement and… Read More

January 26, 2016 @ 8:30 am By JD Alois  |  

HM Treasury has selected Andrew Bailey as the new Chief Executive of the Financial Conduct Authority (FCA).  Bailey replaces interim CEO Tracey McDermott who publicly revealed her decision not to seek a permanent assignment at the FCA in early January.  McDermott took over the helm… Read More

January 24, 2016 @ 10:57 pm By JD Alois  |  

Keith Higgins, Director the Division of Corporate Finance of the SEC, travelled to the UK last week to keynote a speech at the Fifteenth Annual Institute of Securities Regulation in Europe.  The speech, entitled; “International Developments -Past, Present & Future, launched into the premise of… Read More

January 23, 2016 @ 11:28 am By JD Alois  |  

The Financial Conduct Authority (FCA) has published a consultation paper to address the rules regarding client money requirements for “loan based crowdfunding platforms” including peer-to-peer & marketplace lending. According to the FCA, presently an investors money held in relation to peer to peer loans must… Read More