Tagged: financial conduct authority

CoinBurp and Launch of $Burp Token Receives Consumer Warning from UK FCA

The UK Financial Conduct Authority (FCA) has issued a warning regarding CoinBurp and the pending issuance of the $Burp Token. CoinBurp states that it currently operates a CeFi platform, but they are developing an ETH-based DeFi wallet. While the name alone may cause some potential… Read More

UK’s P2P Investment Platform Kuflink Reveals it’s Working on Open Banking Updates

Kuflink Group, a platform that connects borrowers with lenders, by providing a steady flow of accessible finance and competitive interest rates, notes that their tech team has worked hard to bring new features. Kuflink‘s management writers in a blog post that together, with users’ feedback,… Read More

Verso Wealth Management Platform to be Introduced by Munnypot Ltd after it Acquires Whitefoord LLP

Munnypot Ltd confirms that it has teamed up with Cairngorm Capital Partners LLP and has acquired Whitefoord LLP, in order to introduce Verso Wealth Management, which is a wealth management group offering financial advice and investment management that’s supported by an all-digital platform. Cairngorm Capital… Read More

UK Based Payments Firm Clear Junction Stops Binance Transfers

The aftershocks continue to reverberate as affiliated firms assess the action by the Financial Conduct Authority (FCA) to ban Binance’s activity in the UK. Late last month, the UK securities regulatory effectively shut down Binance’s activity in the country. The statement by the FCA was… Read More

Santander Says They Have Stopped Payments to Binance for Customers’ Protection

Following the announcement from Barclays that it would no longer allow transfers to the world’s largest crypto exchange Binance, Santander has announced it will do the same. As posted on the Santander website, the bank explains: We’re stopping payments to Binance for your protection We… Read More

Barclays Blocks UK Customers From Transferring Funds to Binance

At the end of last month, the UK Financial Conduct Authority (FCA) announced that Binance Markets Limited was no longer permitted to undertake any regulated activity in the UK. Binance Markets is part of the broader Binance Group – a company that powers the largest… Read More

UK’s Open Finance Platform mmob Receives FCA Approval for Payment, Account Info Service Provision

mmob, an Open Finance partnership platform, has announced that it has received authorization or approval from the UK’s Financial Conduct Authority (FCA) for Payment and Account Information Service Provision. The approval from the United Kingdom’s regulatory authority validates mmob’s progressive business model and embedded finance… Read More

Binance Banned: UK FCA Says Binance Markets Limited is Not Permitted to Undertake Any Regulated Activity in the UK

Yesterday, the UK Financial Conduct Authority (FCA) announced that Binance Markets Limited is not permitted to undertake any regulated activity in the UK. Binance Markets is part of the Binance Group. The FCA stated that n other entity in the Binance Group holds any form… Read More

Remittance and Wallet App SendSpend Acquires E-Money Institution License from UK’s FCA

SendSpend, the remittance and wallet app, reveals that it has acquired the Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA). The company will now be able to issue digital money and offer cross-border remittance services from its UK head offices. SendSpend… Read More

Fintech VALK, which Offers Corda based Digital Transaction Platform, Secures Place in UK FCA Regulatory Sandbox

UK-based VALK, the end-to-end digital transaction solution for private markets developed on Corda, has managed to secure a place in the UK Financial Conduct Authority’s (FCA) regulatory sandbox. Established in 2016, the FCA regulatory sandbox is being offered to assist the financial services sector and… Read More

UK Financial Conduct Authority: More People Hold Crypto Now

The UK Financial Conduct Authority has been tracking crypto holdings in the UK for some time now. Earlier today, the top securities regulator provided an update indicating the more people in the UK are now holding crypto in contrast to prior data. This is the… Read More

Nasdaq listed Diginex, a Digital Asset Financial Services Firm, to Unify Business Under EQONEX Brand

Diginex Limited (Nasdaq: EQOS), the digital asset financial services firm, has revealed that it’s unifying its businesses under the EQONEX brand. As mentioned in a release shared with CI, the rebrand aims to bring together under the EQONEX Group brand, its virtual currency exchange, custody… Read More

UK Fintech Modulr Explains how they Helped Direct Lender Moneyboat Enhance its Operations

UK-based Fintech firm Modulr notes that direct lender Moneyboat had been quite frustrated by the limitations of the existing banking system. That’s why Moneyboat decided to leverage certain infrastructural Fintech payments solutions to provide faster onboarding, automated, real-time loan disbursements and “a superior customer experience,… Read More

UK based Investment Platform easyMoney Is Reportedly Offering 8% and Over on £1M+ Investments

UK’s easyMoney, the investment platform from Sir Stelios Haji-Ioannou’s easy family of brands claims that it has “never lost a penny on its loans.” This, after over three years since its entry into the markets. However, easyMoney’s management states that their record of having no… Read More

Amigo Shares Sink as Judge Rejects Sub-Prime Lender’s Plan to Address Mis-selling Loans

A UK court has rejected a plan to address mis-selling by sub-prime lender Amigo (AMGO.L) causing shares to sink by 50%. Amigo offers loans to individuals from £2,000 – £10,000 over terms between 12 and 60 months, with a maximum APR of 49.9%. In 2020,… Read More

UK’s Financial Conduct Authority Postpones Implementation of Strong Customer Authentication by Another 6 Months

The UK’s Financial Conduct Authority (FCA) will be postponing the implementation of strong customer authentication (SCA) rules by another 6 months in order to minimize disruption for individual consumers and merchants. First scheduled for release in September 2019, the SCA guidelines – which require a… Read More

Dear CEO: FCA Cautions Fintechs on Clarity in Consumer Protection

Earlier this week, the UK Financial Conduct Authority issued a “Dear Chief Executive” letter to payment and e-money firms warning about adequate disclosure when it comes to affiliated risk and consumer money. Some Fintechs provide similar services as banks while not being fully regulated as… Read More

Buy Now Pay Later Services Pose Serious Risks to Consumers, May have Unclear Terms and Conditions: Report

Buy Now, Pay Later (BNPL) services are becoming increasingly popular across the globe. The BNPL market is valued at around £2.7 billion in the United Kingdom. Although postponing payments might appear to be useful for security and in many instances provides other benefits depending on… Read More

UK FCA Shares Plans for New Consumer Duty, Will Aim to Offer Greater Consumer Protection for Retail Financial Markets

The UK’s Financial Conduct Authority (FCA) has shared plans for a new Consumer Duty, which will aim to provide a greater level of consumer protection for retail financial markets for companies to follow. UK companies are currently required to adhere to FCA guidelines and various… Read More

Major UK Retailers and Business Organizations Commit to Cash-Friendly Pledge from Which?

Thousands of UK supermarkets and other retail outlets have reportedly committed to a “cash-friendly” pledge from Which?, an expert testing, reviewing, and advice service. According to the terms of the pledge, retailers are guaranteeing that they will keep taking physical currency notes and coins as… Read More

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