Tagged: financial conduct authority

March 8, 2019 @ 1:05 am By Cali Haan  |  

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning against a Bulgarian firm, “…claiming to be an FCA-authorised firm offering cryptocurrencies to UK consumers.” The FSA says the company is illegal and has been soliciting UK investors via email containing various… Read More

March 7, 2019 @ 5:42 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has released two reports on cryptocurrency which were commissioned on behalf of the UK government. The FCA has previously published documents on the emerging “crypto-asset” sector as it seeks to better understand which digital assets should be regulated and… Read More

March 3, 2019 @ 4:58 pm By JD Alois  |  

Digital challenger bank Revolut has had a rough week. An article in the Telegraph on Friday questioned the bank’s process for monitoring transactions processed by the bank stating a system to prevent sanctions screening and other illicit activity was “switched off.”  The Fintech had apparently… Read More

March 2, 2019 @ 8:04 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has appointed its very first Director of Innovation.  According to a tweet by the financial regulator, Nick Cook has been selected to take over the new role. We’re delighted to announce that Nick Cook has been appointed as our… Read More

February 28, 2019 @ 10:12 pm By JD Alois  |  

Last September, the Consumer Financial Protection Bureau (CFPB) issued a statement on their proposed regulatory sandbox – a concept trailblazed by the UK Financial Conduct Authority (FCA) and since embraced by multiple regulators around the world. At the time of the earlier announcement, the CFPB… Read More

February 28, 2019 @ 10:14 am By JD Alois  |  

The deadline is rapidly approaching for Brexit and still, there is not a mutually agreeable deal in sight. Of course, the date of the divorce could be pushed back but that does not mean preparations should push pause. The UK Financial Conduct Authority is in… Read More

February 1, 2019 @ 2:18 am By JD Alois  |  

The Global Financial Innovation Network (GFIN) is now open for applications. GFIN is a group of 29 international organisations including the Financial Conduct Authority (FCA) as well as the US Consumer Financial Protection Bureau (CFPB), Monetary Authority of Singapore (MAS), Hong Kong Monetary Authority (HKMA) and… Read More

January 31, 2019 @ 7:27 am By Samantha Hurst  |  

B2C2, a UK-based cryptocurrency liquidity platform, has received its authorization from the Financial Conduct Authority (FCA). Founded in 2015, B2C2 claims to be one of the largest cryptocurrency liquidity providers and the leader in electronic OTC trading. The company reported it is trusted by retail… Read More

January 23, 2019 @ 8:16 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) issued a consultation today on the emerging “cryptoasset” sector of finance.  The UK is well known for its thoughtful regulatory approach when it comes to innovative new financial services and the final outcome will be watched with interest around… Read More

January 2, 2019 @ 7:18 am By Cali Haan  |  

A freedom-of-information request filed by The Sunday Telegraph shows that four-fifths of 49 companies investigated by the UK’s Financial Conduct Authority (FCA) resulted in warnings about those companies being issued to the public. A total of 67 investigations into crypto operations have been launched by the FCA. 18 investigations are… Read More

December 19, 2018 @ 7:37 am By JD Alois  |  

Earlier this week, the Financial Conduct Authority (FCA) announced a plan to “fix a dysfunctional market” when it comes to overdraft fees. In 2017, banks generated over £2.4 billion from overdrafts alone, with around 30% from unarranged overdrafts. These fees typically came from individuals who… Read More

December 16, 2018 @ 9:36 am By JD Alois  |  

The concept of “Patient Capital” has been in discussion for quite some time in the United Kingdom. The premise is based on the theory that investors may be willing to forgo near-term returns for the possibility that substantial gains may be generated at a much… Read More

December 12, 2018 @ 7:13 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has issued a consultation paper, alongside a discussion paper, on patient capital. The consultation is in response to a policy push by HM Treasury to increase investment into long-term assets including venture capital plus private equity, real estate and more…. Read More

November 25, 2018 @ 7:52 am By JD Alois  |  

Speaking last week at the Regulation of Cryptocurrencies event in London, Christopher Woolard, Executive Director of Strategy and Competition at the Financial Conduct Authority (FCA), outlined his agencies view of crypto assets and provided insight into possible regulation. Woolard defined digital assets or cryptocurrencies as falling under… Read More

November 21, 2018 @ 5:31 pm By Cali Haan  |  

A representative from the UK Financial Conduct Authority (FCA) told attendees at The Regulation of Cryptocurrencies event in London today that he is concerned that “Complex, volatile and often leveraged derivatives products” built on cryptocurrencies with “underlying market integrity issues” are being marketed to retail… Read More

October 29, 2018 @ 6:23 pm By JD Alois  |  

In the wake of the Autumn Budget  delivered by Chancellor of the Exchequer Philipp Hammond today, the Financial Conduct Authority (FCA), Bank of England, and HM Treasury has published their final report on the topic of regulating cryptoassets and distributed ledger technology (DLT/blockchain). The Cryptoasset… Read More

October 29, 2018 @ 9:15 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) is reporting an increase in complaints directed at regulated firms during the first 6 months of 2018. This represents a “new record level” of 4.13 million complaints made to 3161 firms. This is an increase of 10% versus the… Read More

October 15, 2018 @ 11:00 am By Barry James  |  

On the brink of Brexit, whatever happens, and as the USA cedes it, Britain can – and should – be again providing leadership at a historic turning point for the world. However, despite warm words and good intentions, we have started shooting ourselves in the… Read More

October 15, 2018 @ 7:50 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has sent a “Dear CEO letter” to lenders of high-cost, short term credit, aka payday loans, admonishing these platforms for an increase in “complaints about affordable lending.” The complaints also reference problematic “chain of loans,” or stacking, that may… Read More

October 9, 2018 @ 9:45 am By JD Alois  |  

The Fintech Sandbox set up by the Financial Conduct Authority in the UK has now been in operation for the past two years. The trailblazing project has since been replicated multiple times around the world. The concept was simple: create a safe haven for Fintech… Read More