Tagged: fca

January 6, 2024 @ 8:22 am By Tony Zerucha  |  

The United Kingdom’s Financial Conduct Authority (FCA) is taking steps to ensure folks maintain access to physical currency in an increasingly digital society. The agency proposed new rules to maintain reasonable access to cash for personal and business customers across the UK. This follows new… Read More

January 5, 2024 @ 9:37 am By Omar Faridi  |  

Digital securities are broadly acknowledged as the future of all securities. Yet, progress has been slow for regulators around the world to craft the needed rules to enable digital to replace existing analog securities. The advent of distributed ledger technology (DLT), or blockchains, is expected… Read More

December 28, 2023 @ 9:53 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) Chief Executive Nikhil Rathi has issued a statement on the agency’s key achievements in the past couple of years. The update is part of a three-year strategy by the FCA to support financial services development while providing ample protection…. Read More

December 12, 2023 @ 9:01 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has been pounded the drums for some time now on the interest earned by consumers on cash balances held on various platforms. While interest rates have risen dramatically in the past couple of years, many financial institutions have been… Read More

December 10, 2023 @ 9:28 pm By Omar Faridi  |  

More people could access advice or support to help make their money “work harder” under proposals set out today by the Financial Conduct Authority (FCA) and the Government. The potential options aim to help more people benefit from investment opportunities, provide for later life, “save… Read More

December 9, 2023 @ 1:16 pm By Omar Faridi  |  

PensionBee notes that in recent years, the spotlight has intensified “on the role of investments in the climate debate.” As most consumers would hopefully know by now, ‘ESG‘ stands for Environmental, Social, and Governance. This is a framework used to “measure a company’s sustainability, workforce… Read More

December 4, 2023 @ 8:24 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) announced that it is setting out forbearance measures for investment company cost disclosure. The FCA says it has now set out temporary measures “to give investment companies greater ability to explain their costs and charges to help consumers make… Read More

November 30, 2023 @ 8:47 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has announced proposals to require personal investment firms to set aside capital so that they can “cover compensation costs and ensuring the polluter pays when consumers are harmed.” The proposals from the FCA would “require personal investment firms –… Read More

November 24, 2023 @ 8:16 am By Omar Faridi  |  

Prior to the UK leaving the EU, EEA-based firms were able “to operate in the UK without our direct authorization.” The UK’s Financial Conduct Authority (FCA) notes that the Temporary Permissions Regime, which allowed EEA firms to continue “to operate in the UK while transitioning… Read More

November 13, 2023 @ 8:22 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) says it is working with payment service providers to do more “to protect consumers from fraud, including authorized push payment (APP) fraud.” While FCA‘s review of firms’ fraud controls and complaint handling found examples of good practice, they were… Read More

November 6, 2023 @ 8:17 am By Omar Faridi  |  

The Financial Conduct Authority (FCA) and the Bank of England are requesting feedback on their proposed approach to regulating stablecoins. The Bank’s proposals cover “any payment systems in the future that use stablecoins in the UK at systemic scale.” Stablecoins are a new type of… Read More

November 5, 2023 @ 2:22 pm By Omar Faridi  |  

Mollie, one of the fastest growing payment service providers in Europe, announced it has been granted a Payment Institution license in the UK by the Financial Conduct Authority (FCA). Mollie originally launched in the UK in early 2021, “serving merchants both domestically and those expanding… Read More

November 2, 2023 @ 10:51 am By Omar Faridi  |  

PayPal (NASDAQ:PYPL) has reportedly been registered to provide crypto-asset services in the UK. This, according to the UK Financial Conduct Authority’s (FCA) update posted on its website. The news comes as the international payments firm builds a post-Brexit base in the country. Although the cryptocurrency… Read More

November 1, 2023 @ 9:18 am By Omar Faridi  |  

Mangopay, a platform-specific payment infrastructure provider, announces that it has been authorized by the Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI). MangoPay is a successful, France-based Fintech that was acquired by a French bank in 2015. The new e-money license from the… Read More

October 30, 2023 @ 10:36 am By JD Alois  |  

The UK government has released the results of a consultation on the regulation of digital assets or crypto.  The update includes information on fiat-backed stablecoins and managing “systemic digital settlement asset firms.” The consultation kicked off in February of this year and was completed at… Read More

October 26, 2023 @ 10:13 pm By Omar Faridi  |  

Elavon Financial Services DAC, a wholly owned subsidiary of U.S. Bank, has been authorized as a licensed provider of financial services by the Bank of England. With Elavon having more than three decades of experience in global payments, and U.S. Bank a long history in… Read More

October 16, 2023 @ 5:19 pm By JD Alois  |  

Binance UK will stop accepting new users as of today (Monday, October 16, 2023). The announcement follows the denial of approval for a third party to provide marketing services to the UK iteration of the world’s largest crypto exchange. This month, the UK Financial Conduct… Read More

October 13, 2023 @ 11:10 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has fined Equifax Ltd £11,164,400 for a security breach that exposed UK consumer’s information. The FCA says the security breach is one of the largest cybersecurity breaches in history. The FCA notes that in 2017, hackers accessed the personal… Read More

October 11, 2023 @ 9:22 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has censured London Capital & Finance (LCF) for misleading promotions in regard to mini-bonds. The FCA said it did not make sense to assess a financial penalty as LCF is effectively bankrupt and in administration. LCF went into administration… Read More

October 10, 2023 @ 5:18 pm By JD Alois  |  

Posted on the UK Financial Conduct Authority (FCA) registry today, peer-to-peer lender Rebuildingsociety was denied the ability to approve any financial promotion for a “Qualifying Cryptoasset for communication by an unauthorized person” and must withdraw any current promotion by tomorrow. After Rebuildingsociety has withdrawn all… Read More