Tagged: fca

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  According to a release published by the firm, 26% of P2P lending applicants have withdrawn their request as they are concerned they will not be able to meet… Read More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

August 5, 2015 @ 10:07 pm By JD Alois  |  

The Financial Conduct Authority (FCA) has announced that Megan Butler will be joining the FC to take the role of Director of Supervision – Investment, Wholesale and Specialists. Megan is currently Executive Director of International Banks Directorate at the PRA. Megan starts on the 1 September and… Read More

July 31, 2015 @ 10:00 am By JD Alois  |  

The Financial Conduct Authority (FCA) has announced the appointment of Christopher Woolard to its Board.  Woolard is currently the Director of Strategy and Competition at the regulatory entity.  Woolard has been a member of the FCA executive committee since the FCA was created from the… Read More

July 30, 2015 @ 11:52 am By Erin Hobey  |  

This week Crowdfund Insider featured Chris Tyrell’s post “Crowdfunding is Impacting the Global Economy” and Rodrigo Niño’s post “Crowdfunding: From Impossible, to Improbable to Inevitable in less than 10 years,” James Tuckett, CEO of investUP adds to this exciting conversation below as he shares his insights in a release regarding… Read More

July 28, 2015 @ 9:33 am By JD Alois  |  

Cash Genie, operated by Ariste Holding Limited, has agreed to pay over £20 million to over 92,000 former customers for unfair business practices. According to the Financial Conduct Authority (FCA), Cash Genie charged fees and interest which were unfair. The FCA gave the example of Cash… Read More

July 17, 2015 @ 10:16 am By JD Alois  |  

Martin Wheatley, the current FCA CEO, has announced his departure from the regulatory agency as of September 12, 2015. Wheatley will continue to advise the FCA board until January of 2016. Tracey McDermott will be taking over as Acting CEO from September 12 while the search for… Read More

July 2, 2015 @ 3:17 pm By JD Alois  |  

The Financial Conduct Authority (FCA), has been tasked with a mission to change and adapt to present day financial market realities.  Charged with the very important role of investor protection, and market efficiency, the FCA also maintains a mission to encourage competition.  It is this… Read More

June 24, 2015 @ 9:09 am By JD Alois  |  

  “A Branch-free, Paper-free and Stress-free Bank” The traditional banking industry has been rather slow to innovate.  Hundreds of years of operating branches, with tellers, is a hard thing to change.  It is also a costly and inconvenient business structure in a world where everything… Read More

June 3, 2015 @ 4:41 pm By JD Alois  |  

In a highly regulated industry, such as finance, there will never be a perfect set of rules. The diversity of opinion and perspective by nature engenders a constant debate between what is right – and what is wrong.  The internet finance industry has evolved quite… Read More