Tagged: financial conduct authority

November 23, 2020 @ 7:55 am By Omar Faridi  |  

After introducing its platform in March 2020, UK Fintech Lanistar has been struggling to establish its operations. As reported recently, the Financial Conduct Authority (FCA) had issued a warning that Lanistar was not authorized to provide services to consumers. The digital banking Fintech platform attracted… Read More

November 19, 2020 @ 7:22 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) recently issued a warning regarding Fintech firm Lanistar Ltd. The financial regulator has cautioned that they believe the company has been offering financial products or services in the UK without its authorization. The FCA noted that would-be investors must… Read More

November 13, 2020 @ 7:00 pm By Omar Faridi  |  

We recently caught up with Humayun Sheikh, CEO of Fetch.ai, an organization that’s focused on developing machine learning and AI-enhanced solutions for the emerging decentralized finance (DeFi) sector along with offering services that may be compatible with traditional financial platforms. Sheikh commented on the recent… Read More

November 13, 2020 @ 7:54 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has announced certain changes that are aimed at limiting the “risk of disruption” to Open Banking services after Brexit. The FCA’s changes are intended to allow UK-headquartered third-party providers (TPPs) to use an alternative to eIDAS certificates to gain… Read More

October 30, 2020 @ 10:37 am By JD Alois  |  

The Global Financial Innovation Network (GFIN), an international Fintech regulatory initiative created by the UK Financial Conduct Authority, will be hosting a cross-border testing initiative that will include 23 different regulators from 5 different continents. In 2019, GFIN completed a cross-border testing pilot. GFIN is… Read More

October 21, 2020 @ 8:56 am By JD Alois  |  

Earlier this month, the UK Financial Conduct Authority (FCA) announced a ban on the sale of crypto derivatives and exchange-traded notes (ETNs) that reference cryptoassets for retail investors. The ban is scheduled to go into effect on January 6, 2021. Many cryptoasset insiders have criticized… Read More

October 13, 2020 @ 3:15 pm By JD Alois  |  

Last week, the UK Financial Conduct Authority announced a ban on the sale of crypto derivatives and exchange-traded notes (ETNs) that for retail investors. The ban, which goes into effect on January 6, 2021, has no impact on spot trading of cryptoassets. Some crypto-industry insiders criticized… Read More

October 12, 2020 @ 2:13 pm By Omar Faridi  |  

Binance alum Fetch.ai, an established blockchain-focused AI firm launched by former DeepMind investors and developers, had introduced Mettalex, a “decentralized” crypto and commodities derivatives trading platform (back in August 2020). Mettalex had stated in August that it would be working with a consortium of steel… Read More

October 6, 2020 @ 1:13 pm By JD Alois  |  

Earlier today, the UK Financial Conduct Authority (FCA) issued a ban on cryptoasset derivative products for retail investors. The decision came after an extended consultation pertaining to the issue. The ban did not impact spot trading for cryptoassets like Bitcoin or Ethereum. The FCA outlined… Read More

October 6, 2020 @ 7:01 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has instituted a ban on the sale of crypto derivatives and exchange-traded notes (ETNs) that reference cryptoassets for retail investors, according to a note distributed by the regulator. The ban goes into effect on January 6, 2021. The decision… Read More

August 25, 2020 @ 6:37 pm By Omar Faridi  |  

The Aave protocol, an open-source and non-custodial DeFi protocol to earn interest on digital asset deposits while also being able to borrow assets, has been awarded an Electronic Money Institution (EMI) license by the UK’s financial regulator, the Financial Conduct Authority (FCA). Aave Ltd received… Read More

August 19, 2020 @ 10:36 pm By Omar Faridi  |  

Fintech firm FXPress Payment Services revealed on August 18, 2020, that it will be acquiring Avila House Ltd, which is subject to regulatory approval. Avila House is a licensed Small Electronic Money Institution. FXPress Payment Services Ltd is authorized and regulated by the UK’s Financial… Read More

August 15, 2020 @ 2:04 pm By Omar Faridi  |  

Barclays-backed Fintech, Crowdz, which serves as a financing marketplace that allows SMBs to sell unpaid invoices for cash, has teamed up with Edward Altman‘s latest project, Wiserfunding, a business credit score provider. As mentioned in an update shared with Crowdfund Insider: “As Silicon Valley’s Crowdz… Read More

July 20, 2020 @ 10:46 am By JD Alois  |  

HM Treasury has issued two public consultations today. One is a review of the current requirement for an authorized firm to approve the financial promotion of an unauthorized firm that may not operate as a strong enough safeguard to ensure such financial promotions are compliant… Read More

July 16, 2020 @ 10:09 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has published draft guidance on their expectations for banks and availability to cash in a market that is seeing a growing number of bank branches closing and ATMs going away. The regulator states that it wants to ensure that… Read More

July 16, 2020 @ 8:40 am By JD Alois  |  

The Financial Conduct Authority (FCA) and the City of London Corporation are partnering on a digital sandbox designed to support firms that are addressing the COVID-19 challenge. The digital sandbox will support both big finance and early state Fintechs seeking to play a role in… Read More

July 14, 2020 @ 10:39 pm By Omar Faridi  |  

An Islamic, or Shariah-compliant, peer to peer lending platform has been introduced in the United Kingdom. The new P2P lender aims to provide funding to the nation’s SMEs, which might be struggling to maintain operations due to the economic challenges created by COVID-19. Qardus, an… Read More

July 10, 2020 @ 4:38 pm By Omar Faridi  |  

The UK’s Consumer Finance Association (CFA), a trade association of non-bank lenders that represents alternative consumer credit providers, recently questioned whether forbearance during the COVID- 19 crisis should be reflected or shown on credit files. The Financial Conduct Authority (FCA) has provided guidelines that may… Read More

July 7, 2020 @ 9:30 am By Samantha Hurst  |  

Crypto Facilities, a subsidiary of Kraken and European cryptocurrency exchange, announced on Monday it has obtained a Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA). Crypto Facilities reported with this new license, it will be able to expand its product range… Read More

June 30, 2020 @ 10:41 pm By JD Alois  |  

  Transferwise, a top UK based Fintech and transfer/payments platform, has received Financial Conduct Authority  (FCA) approval to offer retail investment services, according to a report. Transferwise has emerged as a global stealth bank providing border-free currency services with ultra-low-cost transfers attacking the domain of… Read More