Tagged: hm treasury

SME Finance Charter: 17 Banks & Alternative Lenders Commit to Support SMEs Through Brexit

According to HM Treasury, banks and alternative lenders have “reaffirmed their pledge to support British SMEs ahead of Brexit.” The commitments have been outlined in the SME Finance Charter. The Charter, which is a voluntary agreement, covers; loans and overdrafts, asset financing, stock lending and… Read More

Director of UK-based Analytics Firm Arity Andrew Jenkins Appointed New Fintech Envoy for Ireland

Andrew Jenkins, director of UK-based mobility data and analytics firm Arity, has been appointed (on October 4) as the new Fintech envoy for Northern Ireland. The appointment has been made by John Glen, the Economic Secretary to the Treasury. Glen stated: “Fintech is vital to… Read More

UK Women in Finance Charter Now Has Over 350 Signatories

The Women in Finance Charter now has over 350 names on its list of supporters, according to a note from HM Treasury, as 21 new names were announced. A good number of signatories are Fintech firms. The Treasury’s Women in Finance Charter seeks support from… Read More

UK Government Looks to Insurtech to Help Low Income Renters

HM Treasury and the Financial Conduct Authority (FCA) recently organized a workshop on assisting low-income renters. Predicated on the fact that rental insurance has “very low take-up” amongst a lower demographic, Treasury and the FCA invited multiple firms to attend an “Access to Contents Insurance… Read More

State of the Fintech Nation: UK Government Publishes Report on Fintech Progress

The United Kingdom has long been a global leader in financial innovation. Of course, London holds a long history as a prominent financial center for both Europe and the world. This established base has combined with a strong entrepreneurial spirit and access to capital to… Read More

UK Government Taskforce Publishes Final Report on Cryptoassets

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

UK Parliament Treasury Committee: Need for Cryptocurrency Sector Regulation “A Matter of Urgency”

The UK can no longer rely on “feeble” warnings to consumers from its securities regulator and should swiftly extend existing legislation to govern the cryptocurrency and digital asset sector in country, says a Parliament Treasury Committee established in February to examine the matter. After doing its… Read More

United Kingdom and Singapore Commit to Cooperate More Closely on Financial Services Including Fintech Bridge

The United Kingdom and Singapore held their 4th joint meeting of financial services regulators and policymakers. The meeting took place in London yesterday where officials discussed regulatory initiatives and standards of conduct in the financial sector. Both the UK and Singapore have pursued Fintech innovation… Read More

UK Businesses Benefit from Referral Plan Where SMEs Rejected by Banks are Pointed to Alternative Finance

As in most parts of the world, smaller businesses drive the bulk of job growth in the UK. Over 99% of all UK businesses are SMEs employing 0-249 people and 96% (approximately 5.5 million) are micro-businesses employing up to 9 people, accounting for 33% of… Read More

UK Cryptotassets Taskforce Meets to Discuss Impact, Benefits & if New Regulation is Necessary for DLT in Financial Services

Today was the first meeting of the UK Cryptoassets Taskforce. The previously announced group involves the participation of the Financial Conduct Authority (FCA), Bank of England (BoE), HM Treasury and other Senior government officials. Some of the named participants include, Katharine Braddick, Director General of… Read More

The Great Strength of the British Fintech Community: Chancellor Philip Hammond Says Britain is the Global Capital of Fintech

HM Treasury Publishes Fintech Strategy In a widely anticipated speech today during the midst of UK Fintech Week, Chancellor of the Exchequer Philip Hammond told the audience Britain is the global capital of Fintech and he will do everything he can to maintain this title…. Read More

HM Treasury Confirms International Fintech Conference for March 2018

HM Treasury will host their second International Fintech Conference following the success of the inaugural event in 2017. Scheduled to be held in London on March 22, 2018, the event will highlight the UKs standout Fintech innovators as well as up and coming Fintech firms… Read More

UK Women in Finance Charter Now Has 160 Firms Signed Up

There is a growing number of women in the finance industry – even more so in alternative finance. The UK, via HM Treasury’s Women in Finance Charter, is actively pursuing the promotion of women executives in this vitally important sector of business. According to HM… Read More

UK: Risk of Using Cryptocurrencies in Money Laundering & Terrorist Financing Said to be Low but Expected to Grow

“Cybercrime as a Service” is a Growing Problem In the UK, HM Treasury and the Home Office have published a report on money laundering and terrorist financing. As one of the largest economies in the world that is based on global trade and quite open… Read More

Patient Capital: Deepbridge Provides EIS & SEIS Wish List as Autumn Budget Nears

Deepbridge Capital, a company that provides investment access to small and medium sized UK growth businesses, has shared a wish list regarding the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) and measures it would like to see in Chancellor Philip Hammond’s forthcoming… Read More

Will HM Treasury “Clamp Down” on EIS & Undercut Investment in Early Stage Firms?

Earlier this week, the Sunday Times reported that the UK government was examining plans to “clamp down” on the Enterprise Investment Scheme (EIS). This program is a tax exemption that seeks to incentivize investment in early stage companies – an intrinsically risky endeavor. By providing… Read More

EY: 50% of UK Fintechs Expect Revenue to Double by Next Year

According to a census taking by EY and Innovate Finance (on behalf of HM Treasury), UK Fintech firms are quite bullish on their prospects in the coming year. The report, the 2017 UK FinTech Census, states that about half of the firms polled expect revenue… Read More

UK-Singapore Financial Dialogue Takes Place in Singapore

The United Kingdom and Singapore has held their third UK-Singapore Financial Dialogue in Singapore today (September 8).  According to information provided by the Monetary Authority of Singapore, the two countries exchanged views on domestic and international financial market developments and covered a broad range of… Read More

UK Government National Investment Fund to Back UK Startups. Consultation is Currently Seeking Feedback

The UK government has proposed a  new “National Investment Fund” launched to help innovative UK start-ups become “world-leading unicorns”.  According to HM Treasury, the Fund will ostensibly fill a £4 billion funding gap between US and UK firms and boost investment into entrepreneurial firms. HM… Read More

HM Treasury Convenes Fintech Roundtable to Maintain Sector Momentum

A group of prominent Fintech firms met with City Minister, Simon Kirby, to discuss how early success in financial innovation could be maintained.  HM Treasury recognizes that London has garnered global accolades for its robust entrepreneurial environment that has created multiple disruptive Fintech firms. The… Read More

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