Tagged: financial conduct authority

March 1, 2016 @ 8:03 am By JD Alois  |  

In July 2014, the Financial Conduct Authority published the results of the general insurance add-ons market study which showed that competition was not working well for many consumers. In June 2015, the regulator proposed a number of options for publishing product information, including: claims ratio… Read More

February 25, 2016 @ 8:54 am By JD Alois  |  

The forthcoming Innovative Finance ISA (IFISA) launches on April 6, 2016.  This new savings vehicle is expected to drive value for both investors and peer to peer lenders alike.  For investors, the benefit is a better risk-adjusted return. All peer to peer lenders deliver far… Read More

February 16, 2016 @ 7:09 pm By JD Alois  |  

    The University of Cambridge Centre for Alternative Finance and Nesta have released their much-anticipated report on alternative forms of finance tracking results for 2015. The research was completed in partnership with KPMG and with the support of CME Group Foundation. Entitled”Pushing Boundaries”, the… Read More

January 26, 2016 @ 8:30 am By JD Alois  |  

HM Treasury has selected Andrew Bailey as the new Chief Executive of the Financial Conduct Authority (FCA).  Bailey replaces interim CEO Tracey McDermott who publicly revealed her decision not to seek a permanent assignment at the FCA in early January.  McDermott took over the helm… Read More

January 23, 2016 @ 11:28 am By JD Alois  |  

The Financial Conduct Authority (FCA) has published a consultation paper to address the rules regarding client money requirements for “loan based crowdfunding platforms” including peer-to-peer & marketplace lending. According to the FCA, presently an investors money held in relation to peer to peer loans must… Read More

January 7, 2016 @ 8:41 am By JD Alois  |  

The Financial Conduct Authority (FCA) has released a statement that acting Chief Executive Tracey McDermott withdrew from the process to become permanent leader of the agency in December. McDermott will continue in her position until Treasury appoints a replacement. The former FCA CEO Martin Wheatley… Read More

November 24, 2015 @ 7:23 am By JD Alois  |  

The Financial Conduct Authority has launched another “call for inputs” as it digs into the retail insurance industry and the use of data to drive decisions. Interested participants have until January 8th to submit comments with a feedback statement expected in mid-2016.  The FCA notes… Read More

November 13, 2015 @ 9:33 am By JD Alois  |  

Bondora, a peer to peer lending platform with pan-European aspirations, has shared their opinion on the regulatory environment in Europe. According to Bondora, “regulating alternative finance is a fraught issue across Europe”.  But there is an exception to this rule. The UK, and the Financial… Read More

November 4, 2015 @ 7:23 am By JD Alois  |  

The Financial Conduct Authority (FCA) has admonished another PayDay lending platform for shoddy service.  The FCA has compelled CashEuroNet UK LLC to provide redress to 3,940 customers regarding poor lending practices.  Approximately £1.7 million will be returned to borrowers using the platform that traded under… Read More

November 2, 2015 @ 11:37 pm By Midori Yoshimura  |  

On the rapidly expanding ground of the £1.4bn crowdfunding industry, there’s a growing split between companies with a venture capital or private equity background who hold that a £1,000 minimum investment in crowdfunding ventures would protect inexperienced investors, and those who believe that such a minimum investment would go… Read More

October 28, 2015 @ 8:12 am By JD Alois  |  

The Financial Conduct Authority has published their response to the Competition and Market Authority payday lending investigation.  The FCA said it had “worked closely with the CMA” regarding the market investigation.  The consultation paper is accepting feedback until January 28th, 2016.  The proposal by the… Read More

October 27, 2015 @ 1:49 am By Midori Yoshimura  |  

Last week, Financial Conduct Authority Chair and acting CEO Tracey McDermott visited Parliament last week, and spoke before the Treasury Select Committee on topics including alternative financing sources. She addressed questions of risk for investors in crowdfunding and peer-to-peer lending, as well as the role of regulation…. Read More

October 7, 2015 @ 10:15 pm By JD Alois  |  

The Financial Conduct Authority (FCA) announced a “Call for Input” (CFI) today regarding the massive mortgage industry in the UK.  The FCA is seeking input from interested parties to “identify potential areas where competition may not be working well and could be improved”.  The FCA… Read More

September 21, 2015 @ 10:29 am By JD Alois  |  

The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have updated the make-up of several important committees including; the FCA’s Regulatory Decisions Committee (RDC) and Competition Decisions Committee and the PSR’s Enforcement Decisions Committee (EDC) and Competition Decisions Committee.   These four committees are make… Read More

August 10, 2015 @ 12:23 am By Midori Yoshimura  |  

  In the UK, more than 100 peer-to-peer lenders have applied for full authorization from the Financial Conduct Authority (FCA), which took over regulation of P2P last year, notes the Financial Times. Nearly 180 companies have interim permission to operate, according to figures obtained from the FCA… Read More

July 31, 2015 @ 10:00 am By JD Alois  |  

The Financial Conduct Authority (FCA) has announced the appointment of Christopher Woolard to its Board.  Woolard is currently the Director of Strategy and Competition at the regulatory entity.  Woolard has been a member of the FCA executive committee since the FCA was created from the… Read More

July 17, 2015 @ 10:16 am By JD Alois  |  

Martin Wheatley, the current FCA CEO, has announced his departure from the regulatory agency as of September 12, 2015. Wheatley will continue to advise the FCA board until January of 2016. Tracey McDermott will be taking over as Acting CEO from September 12 while the search for… Read More

July 2, 2015 @ 3:17 pm By JD Alois  |  

The Financial Conduct Authority (FCA), has been tasked with a mission to change and adapt to present day financial market realities.  Charged with the very important role of investor protection, and market efficiency, the FCA also maintains a mission to encourage competition.  It is this… Read More

June 24, 2015 @ 9:09 am By JD Alois  |  

  “A Branch-free, Paper-free and Stress-free Bank” The traditional banking industry has been rather slow to innovate.  Hundreds of years of operating branches, with tellers, is a hard thing to change.  It is also a costly and inconvenient business structure in a world where everything… Read More

June 3, 2015 @ 4:41 pm By JD Alois  |  

In a highly regulated industry, such as finance, there will never be a perfect set of rules. The diversity of opinion and perspective by nature engenders a constant debate between what is right – and what is wrong.  The internet finance industry has evolved quite… Read More