Tagged: fca

January 19, 2016 @ 5:16 am By Erin Hobey  |  

Cashfloat’s data-modelling scientists have developed an advanced affordability model, designed to generate a clearer picture of the client’s affordability. This enables the Cashfloat team to make decisions about lending, better aligned with the FCA compliance framework. Western Circle Ltd, a London-based lending company trading as Cashfloat.co.uk, confirmed that… Read More

January 7, 2016 @ 8:41 am By JD Alois  |  

The Financial Conduct Authority (FCA) has released a statement that acting Chief Executive Tracey McDermott withdrew from the process to become permanent leader of the agency in December. McDermott will continue in her position until Treasury appoints a replacement. The former FCA CEO Martin Wheatley… Read More

December 14, 2015 @ 8:39 am By JD Alois  |  

The Financial Conduct Authority (FCA) has posted a public request for feedback on regulation in the context of the social investment market.  The FCA defines social investment as “investments where the aim is to provide a wider social benefit, rather than the primary driver being… Read More

December 8, 2015 @ 11:20 am By JD Alois  |  

  The Financial Conduct Authority (FCA) in its ongoing quest to promote competition within the financial services sector, has announced upcoming rules designed to improve the plight of consumers who save money in banks.  From December 2016, financial firms will be required to provide specific… Read More

December 3, 2015 @ 10:25 am By Erin Hobey  |  

Tandem has been granted authorization from the Bank of England and will be regulated by Financial Conduct Authority and the Prudential Regulation Authority, blogged co-founder Ricky Knox. Tandem aims to be the most helpful, not the most painful, bank for its customers. “This is very… Read More

November 24, 2015 @ 7:23 am By JD Alois  |  

The Financial Conduct Authority has launched another “call for inputs” as it digs into the retail insurance industry and the use of data to drive decisions. Interested participants have until January 8th to submit comments with a feedback statement expected in mid-2016.  The FCA notes… Read More

November 13, 2015 @ 9:33 am By JD Alois  |  

Bondora, a peer to peer lending platform with pan-European aspirations, has shared their opinion on the regulatory environment in Europe. According to Bondora, “regulating alternative finance is a fraught issue across Europe”.  But there is an exception to this rule. The UK, and the Financial… Read More

November 4, 2015 @ 3:00 am By JD Alois  |  

investUP has claimed the title of the “world’s first crowdfunding brokerage”.  The company has announced today receiving the approval of the Financial Conduct Authority (FCA).  investUP believes they now have a clear path to provide retail investors a method to fund multiple crowdfunded offers via… Read More

October 28, 2015 @ 8:12 am By JD Alois  |  

The Financial Conduct Authority has published their response to the Competition and Market Authority payday lending investigation.  The FCA said it had “worked closely with the CMA” regarding the market investigation.  The consultation paper is accepting feedback until January 28th, 2016.  The proposal by the… Read More

October 27, 2015 @ 1:49 am By Midori Yoshimura  |  

Last week, Financial Conduct Authority Chair and acting CEO Tracey McDermott visited Parliament last week, and spoke before the Treasury Select Committee on topics including alternative financing sources. She addressed questions of risk for investors in crowdfunding and peer-to-peer lending, as well as the role of regulation…. Read More

October 24, 2015 @ 9:49 am By JD Alois  |  

Last week Tracey McDermott, Acting Chief Executive at the Financial Conduct Authority, delivered a speech addressing a pressing issue in the world of financial regulation.  It was driven upon the fact that most policy makers create new rules following periods of crisis. This is soon followed… Read More

October 23, 2015 @ 1:42 pm By Therese Torris  |  

Part II: Seen & Heard at Lendit Europe If you missed attending Lendit Europe, you missed a great event. You can catch up on a selection of presentations on Lendit . For short skimming, we’ve selected a few thought-provoking quotes from day 2. You may also… Read More

October 19, 2015 @ 7:05 am By JD Alois  |  

Madiston LendLoanInvest is entering the Lithuanian market having partnered with Finbee on a joint venture to offer peer to peer lending services.  Madison has provided Finbee with its lending software and has become a shareholder in the company. This is the second P2P lender to… Read More

October 12, 2015 @ 2:42 pm By JD Alois  |  

Regulatory consultancy Bovill states that many aspiring peer to peer lending platforms are having a change of heart.  According to a release published by the firm, 26% of P2P lending applicants have withdrawn their request as they are concerned they will not be able to meet… Read More

October 7, 2015 @ 10:15 pm By JD Alois  |  

The Financial Conduct Authority (FCA) announced a “Call for Input” (CFI) today regarding the massive mortgage industry in the UK.  The FCA is seeking input from interested parties to “identify potential areas where competition may not be working well and could be improved”.  The FCA… Read More

September 30, 2015 @ 10:21 pm By JD Alois  |  

Online lending is undergoing a bit of an introspective period.  The US Department of Treasury published a request for information which posed multiple questions to industry participants and interested observers.  The UK P2PFA took the opportunity to share their point of view from across the… Read More

September 30, 2015 @ 8:04 am By JD Alois  |  

The Financial Conduct Authority (FCA) has published its most recent data on complaints filed against financial institutions. While the top line number dropped, removing the  Payment Protection Insurance (PPI) category saw the overall number jump by 11.6% versus the same period year prior. The increase was… Read More

September 21, 2015 @ 10:29 am By JD Alois  |  

The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have updated the make-up of several important committees including; the FCA’s Regulatory Decisions Committee (RDC) and Competition Decisions Committee and the PSR’s Enforcement Decisions Committee (EDC) and Competition Decisions Committee.   These four committees are make… Read More

September 4, 2015 @ 12:24 pm By Erin Hobey  |  

Self Invested Personal Pensions (SIPP) assist marketplace lenders such as Ablrate and Ratesetter (the first consumer P2P platform to be available through a SIPP),  in sourcing loans.  Research from Yorkshire Building Society “highlighted a lack of understanding about peer-to-peer investment (P2P) and the potential risks it poses… Read More

August 10, 2015 @ 12:23 am By Midori Yoshimura  |  

  In the UK, more than 100 peer-to-peer lenders have applied for full authorization from the Financial Conduct Authority (FCA), which took over regulation of P2P last year, notes the Financial Times. Nearly 180 companies have interim permission to operate, according to figures obtained from the FCA… Read More