Tagged: financial conduct authority

UK Insurtech Qover Obtains FCA Authorization License

Qover, which claims to be a leader in embedded insurance orchestration, announces the successful granting of a Financial Conduct Authority (FCA) full authorization. Following seven years of active operations in the UK market, this achievement ensures Qover’s continued growth “across the continent post-Brexit and underscores… Read More

UK Financial Conduct Authority (FCA) to Analyse Savings Products Offered to Consumers

The UK Financial Conduct Authority (FCA) has announced it will analyze “lenders’ fair value assessments” to determine if they are providing consumers with appropriate savings products. Earlier this year, the FCA commented on the spread between what banks receive in interest rate returns and what… Read More

Algbra Reportedly Becomes UK’s First FCA Authorized ESG, Sharia-Compliant Fintech to Gain B Corp Status

Algbra, the global ethical and Sharia-compliant technology platform with its UK finance app, has been awarded B Corp status “after demonstrating its credentials of the highest ESG standards.” This reportedly makes Algbra one of the few financial institutions in the UK “to achieve this status,… Read More

OANDA Global Corp Acquires Majority Interest in Coinpass, a Digital Asset Firm Registered with UK’s FCA

OANDA Global Corporation announced that it has acquired a majority interest in Coinpass Limited, a crypto asset firm registered with the United Kingdom’s Financial Conduct Authority (FCA). Coinpass was founded in 2018 in order “to meet a growing demand for fast and secure access to… Read More

UK’s FCA Outlines Expectations for Crypto-Asset Firms Complying with Travel Rule

The UK’s Financial Conduct Authority (FCA) is setting out their expectations for crypto-asset businesses that need “to comply with a change in money laundering legislation legislated by government in July 2022.” From 1 September 2023, crypto-asset businesses in the UK will be “required to collect,… Read More

UK Financial Conduct Authority (FCA) Finds Fund Managers’ Value Assessments Significantly Improved

Following a review of fund managers’ value assessments, the UK Financial Conduct Authority (FCA) has found “that while many firms have better practices in place, some still require improvement.” In 2017, the FCA published its Asset Management Market Study, which “found evidence of weak demand-side… Read More

NatWest, Coutts Account Cancellation Captures Attention of Financial Conduct Authority (FCA)

The UK Financial Conduct Authority (FCA) has issued a statement on the recent bust-up over Coutts canceling a high-profile account due to its internal “values.”  Coutts, which is owned by NatWest, shut down the account of former UKIP leader and noted Brexit supporter Nigel Farage… Read More

UK Financial Conduct Authority (FCA) Digital Sandbox Will Be Available Permanently in August 2023

Following 2 successful pilots, the UK Financial Conduct Authority’s (FCA) Digital Sandbox will be “made available permanently on 1 August 2023, opening up the platform to an even broader range of innovative businesses, start-ups and data providers.” The Digital Sandbox is a testing environment that… Read More

FCA Chief Executive Addresses AI and Big Tech in Speech

The Chief Executive of the UK Financial Conduct Authority (FCA), Nikhil Rathi, addressed in a speech the emergence of Artificial Intelligence (AI) and the role of Big Tech in financial services. The speech was delivered today at the Economist Impact Finance Transformed event. Rathi said… Read More

UK: Financial Conduct Authority Updates on Ongoing Eradication of Illegal Crypto ATMs

The Financial Conduct Authority (FCA) has issued a statement on its ongoing crackdown of crypto ATMs in the UK that are not authorized. The FCA says it has investigated 34 locations in the UK since the start of the year, typically working with other law… Read More

Chris Ansara: CEO of UK Regtech docStribute and Colleague Share Insights on Necessity of Digital Transformation

Chris Ansara, CEO of UK-based Regtech startup docStribute and Chair, Phil Shelley, have shared their career insights on the necessity of digital transformation in order to meet FCA regulations as well as decarbonize global business. As many sectors struggle to meet regulatory demands, particularly financial… Read More

Bitstamp Registers as Crypto Asset Service Provider with UK Financial Conduct Authority

Bitstamp is reporting that it has secured registration as a cryptoasset service provider by the UK Financial Conduct Authority. Bitstamp currently claims 52 licenses and registrations secured with financial regulators across the globe. Firms carrying out specific cryptoasset activities in the UK must comply with… Read More

Archax, an FCA Regulated Digital Asset Exchange, Appoints Ben Zennou to Key Role

Archax, the FCA regulated digital asset exchange, broker, and custodian, today announced the appointment of Ben Zennou as its new Head of Crypto Sales. Reporting into the CRO, Zennou will be “responsible for leading the company’s continued growth in crypto markets, including the establishment of… Read More

CryptoUK Issues Statement on FCA’s Updated Marketing Rules for Digital Assets

The UK Financial Conduct Authority (FCA) has issued new rules for crypto promotions. The rules are said to align with other financial services offerings. CryptoUK, an association representing the UK’s digital asset industry, has issued a statement on the marketing rules. Su Carpenter, Director of… Read More

UK Financial Conduct Authority Introduces New Marketing Rules for Crypto

The UK Financial Conduct Authority (FCA) has introduced new rules for the digital asset or crypto asset industry. The FCA describes the new rules as “tough,” incorporating a “cooling off period” for new investors – commencing on October 8, 2023. The marketing rules are part… Read More

Joint Regulatory Oversight Committee (JROC) Sets Out Steps to Support UK Open Banking Adoption

The Joint Regulatory Oversight Committee (JROC) has recently set out an ambitious program of work “to take forward recommendations for the next phase of open banking in the UK.” This involves “setting up dedicated workstreams to action the six key themes and priorities outlined in… Read More

Founders of Defunct P2P Lending Platform Collateral Convicted of Fraud

Collateral UK, once a peer-to-peer lending platform that went into insolvency in 2018, has seen fraud convictions of its founders. According to the Financial Conduct Authority that filed the charges, Peter Currie was convicted of two counts of fraud and one of money laundering. His… Read More

Rules-based Investing: MerQube UK Receives FCA Authorization as Benchmark Administrator Under Benchmarks Regulation

MerQube UK Limited, a key player focused on the development of technology for indexing and rules-based investing, announces that it has been authorized by the UK’s Financial Conduct Authority (FCA) “to carry on the regulated activity of administering benchmarks under Article 34 of the Regulation… Read More

UK Financial Conduct Authority Aims to Boost Public Listings by Simplifying Rules

While the United States continues to pursue a rule-upon-regulation strategy that undermines public listings, increasing cost and compliance requirements, the UK is looking to improve the number of public firms by simplifying its listing rules. The policy objective has been discussed for years, and today… Read More

Influencers Touting Financial Products: UK FCA Warns “Fin-Fluencers” on Pumping Investments, Get Rich Quick Ploys

The UK Financial Conduct Authority (FCA) and Advertising Standards Authority (ASA) have posted a notice putting influencers on notice not to promote “get rich quick” schemes or pursue “illegal financial promotions.” The FCA recently reported they pursued interventions 8582 times in 2022, more than 14X… Read More

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