Tagged: financial conduct authority

May 5, 2021 @ 8:21 am By Omar Faridi  |  

UK-based Fintech firm Lanistar, the much-hyped and controversial business venture that has previously claimed it’s owned by some of the “world’s most influential people,” has revealed that it’s managed to acquire the FCA’s approval to serve as an Electronic Money Directive (EMD) agent of payments… Read More

May 4, 2021 @ 9:44 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has proposed (on May 4, 2021) updated rules that will require pension providers to “nudge” consumers to Pension Wise so they can benefit from guidance prior to accessing their defined contribution pension savings. This reportedly includes booking an appointment… Read More

April 29, 2021 @ 10:48 am By JD Alois  |  

Following a Call for Input (CFI) that sought feedback on the promotion of consumer investments, the UK Financial Conduct Authority (FCA) has published its proposal designed to safeguard retail investors.  The proposals in the Discussion Paper (DP) may impact new asset classes such as investment… Read More

April 22, 2021 @ 9:13 am By JD Alois  |  

UK bank NatWest is saying no to crypto. According to a report, business users that accept crypto, like Bitcoin, may be refused access to the bank’s services. As reported by the Guardian, NatWest BoardMember Morten Friis, who is head of the Risk Committee, explained during… Read More

April 21, 2021 @ 10:51 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has appointed Sacha Sadan to serve as its Director of Environment, Social and Governance (ESG). Ian Alderton has been appointed by the financial regulator as Chief Information Officer while Ian Phoenix will work as Director, Intelligence and Digital. Nikhil… Read More

April 21, 2021 @ 8:54 am By JD Alois  |  

Nikhil Rathi, Chief Executive of the UK Financial Conduct Authority (FCA), delivered a speech yesterday during a presentation at UK Fintech Week. Entitled, Levelling the playing field – Rathi provided perspective on innovation in financial services. He said that in 2019, Fintech revenue rose to… Read More

April 4, 2021 @ 5:18 pm By Omar Faridi  |  

Modulr, a Payments as a Service API Platform for digital businesses, has shared insights on how Fintech firms can “harness the power” of cryptocurrency. Gavin Waddell from Modulr writes in a blog post that digital currencies have “shaken up” the financial world. Innovation is “the… Read More

March 24, 2021 @ 9:36 am By Samantha Hurst  |  

      Digital payments platform Wirex announced on Wednesday it is temporarily pausing to recruit new UK customers. According to Wirex, the temporary pause follows constructive dialogue with UK regulator, the Financial Conduct Authority (FCA). Wirex further revealed that as part of the pause, it… Read More

March 22, 2021 @ 7:57 am By Lee Schneider  |  

CryptoUK issued a clarion call to the Financial Conduct Authority (FCA), the UK financial and anti-money laundering (AML) regulator, demanding that FCA grant licenses as prescribed by AML rules.  Too many applications have gone unanswered since those rules came into effect over one year ago. … Read More

March 5, 2021 @ 8:27 am By Samantha Hurst  |  

Bybit, a cryptocurrency derivatives exchange, announced on Friday it is set to suspend its services to UK customers in order to comply with the Financial Conduct Authority’s (FCA) ban on cryptocurrency derivatives. Last summer, the FCA published its final rules banning the sale of derivatives… Read More

February 28, 2021 @ 11:57 pm By Omar Faridi  |  

Currencycloud, a cross-border payment platform, notes in a blog post that UK businesses have been struggling to deal with various issues ever since the country voted in 2016 to leave the European Union (EU). While the agreement reached between the United Kingdom and European Union… Read More

February 28, 2021 @ 5:12 pm By Omar Faridi  |  

UK-based peer-to-peer (P2P) lender JustUs says it aims to “disrupt” the lending landscape and become an established provider of crowdfunded financial products for consumers with the JustUs ISA. To undertake Peoples Mortgages, JustUs noted that it will be “required to gain regulatory approval which is… Read More

February 24, 2021 @ 9:12 am By JD Alois  |  

The Financial Conduct Authority (FCA) has announced that it has obtained High Court Approval to return £3.42 million to victims of an unauthorized deposit-taking and collective investment schemes. The FCA states that Digital Wealth Limited, aka Digital Wealth Society (DWS), and Outsourcing Express Limited (OEL)… Read More

January 28, 2021 @ 10:35 pm By Omar Faridi  |  

Approximately half or 50% of companies that have previously submitted their regulatory reporting on the UK Financial Conduct Authority’s (FCA) Gabriel systems are now using RegData, the regulator recently confirmed. According to the FCA, RegData is central or key to their overall data strategy which… Read More

January 18, 2021 @ 9:02 am By JD Alois  |  

Following a call for input on the consumer investment market that closed to comments last month, the UK Financial Conduct Authority has issued a report on how the regulator “works to protect consumers from investment harm” citing activity during the first 10 months of 2020…. Read More

January 9, 2021 @ 7:04 pm By Omar Faridi  |  

UK-based digital bank Revolut notes that in 2020, the Financial Conduct Authority (FCA) had introduced a requirement for all cryptocurrency-related companies or businesses (in the UK) to register with the regulator to confirm that they’re adhering to the country’s money laundering regulations. Revolut’s management pointed… Read More

January 6, 2021 @ 11:57 pm By JD Alois  |  

The UK crowdfunding industry is worried that a recent “Call for Input: The Consumer Investments Market” by the UK Financial Conduct Authority (FCA) may undermine the viability of the investment crowdfunding industry. Comments on the process closed on December 15, 2020. The consultation was instituted… Read More

January 3, 2021 @ 12:55 pm By Omar Faridi  |  

Fintech companies are reportedly urging the UK’s Financial Conduct Authority (FCA) to “break” banks during 2021. A group of London-based startups is asking the FCA to look into ending the control and dominance of traditional banking institutions, specifically their use of consumer data. The companies… Read More

January 3, 2021 @ 12:47 pm By Omar Faridi  |  

The limit on contactless payments might be increased from the current £45 to £100 in one of Britain’s very first steps away from European Union guidelines. The upper limit on touch-free or contactless payments might be raised to £100 after the suggestion was made to… Read More

December 13, 2020 @ 8:24 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has issued “Three Wise Warnings” for the nation’s consumers. The financial regulator has cautioned that customers should look out for loan fee fraud this Christmas or holiday season. The FCA notes that if you’ve been asked to pay some… Read More