fca
Kraken Gains FCA EMI License: Restores US Staking Services After SEC Lawsuit Dismissal
- The firm aims to expand its UK operations by offering over 300 crypto assets for trading.
- Recently, the SEC dismissed a lawsuit against Kraken, allowing staking services' reintroduction.
Monday, 10/03/2025 | 14:51 GMT by
Tareq Sikder
FCA and PRA Appoint Ex-GE Capital Executive as FSCS Permanent CEO After Interim Role
- Martyn Beauchamp brings over 20 years of experience, having worked with Tesco Bank.
- His permanent appointment follows Elizabeth Passey's selection as chair of the FSCS board in 2024.
Thursday, 06/03/2025 | 16:25 GMT by
Tareq Sikder
FCA Defends Email Policy Shift as Critics Warn of Transparency Risks
- With over 70 million emails stored, the UK's regulator hopes structured record-keeping will enhance efficiency and facilitate faster data retrieval.
- However, critics argue that the FCA holds itself to standards different from those of the firms it regulates, an accusation the watchdog denies.
Wednesday, 19/02/2025 | 18:53 GMT by
Jared Kirui
UK's Regulator Fines Mako Financial Markets £1.66M in Cum-Ex Trading Crackdown
- The regulator also accused the company of accepting payments from a UAE-based third party without conducting due diligence.
- In a related case, the FCA fined Arian Financial for similar failures, also in relation to the Cum-Ex trading scandal.
Tuesday, 18/02/2025 | 21:21 GMT by
Jared Kirui
FCA Seizes £586K from Convicted Insider Dealer, Former Goldman Sachs Analyst
- Mohammed Zina, convicted of insider dealing, must pay a confiscation order or serve five more years in prison.
- The regulator confiscates all assets of insider dealer after conviction for illegal trading.
Monday, 03/02/2025 | 12:06 GMT by
Tareq Sikder
UK Regulator Demands Stronger Controls from Wholesale Brokers
- The FCA warned that brokers’ access to sensitive market information could be exploited for personal gain.
- The FCA has committed to intensifying its scrutiny of broker conduct, with the possibility of operational restrictions and enforcement actions.
Friday, 24/01/2025 | 14:28 GMT by
Jared Kirui
FCA Proposes £100 Contactless Limit Removal and Calls for SME Support Legislation
- The regulator outlines plans to introduce variable recurring payments in open banking.
- It urges the Government to improve digital identity, Companies House, and court systems.
Wednesday, 22/01/2025 | 11:42 GMT by
Tareq Sikder
FCA and Bank of England Prioritize Payment Systems in Revised MoU
- Regulators identified improvements in data sharing and expertise exchange over the past year.
- The regulator committed to revising the MoU by the second quarter of 2025 to enhance cooperation.
Friday, 20/12/2024 | 20:56 GMT by
Jared Kirui
Racehorses and Nightclubs: UK Wealth Manager Charged in “Most Serious” FCA Investigation
- Former WealthTek partner John Dance faces nine criminal charges for allegedly defrauding clients of over £64 million over nearly a decade.
- However, the regulator claims that 84% of affected clients are expected to receive full compensation.
Thursday, 19/12/2024 | 08:10 GMT by
Damian Chmiel
Why Gen Z Treats Bitcoin Like Air Fryers—And Why It's Terryfing
- A new study reveals young people make investment decisions as casually as buying kitchen appliances.
- This alarming trend shows Gen Zers treating complex financial products with the same impulsivity as viral consumer goods.
Wednesday, 18/12/2024 | 09:57 GMT by
Damian Chmiel
FCA Seeks Feedback on Crypto Admissions and Disclosures Regime
- Crypto firms may need to share information to reduce fraud and improve market integrity.
- The regulator warns that crypto is largely unregulated in the UK, high-risk, and offers no protection.
Monday, 16/12/2024 | 10:37 GMT by
Tareq Sikder
FCA Begins £1 Trillion Market Reform That May Affect Every UK Investor
- FCA launches consultation to transfer EU investment firm rules into its handbook, preparing for future reforms.
- The overhaul affects thousands of UK firms and traders and marks a key step in post-Brexit regulation modernization.
Wednesday, 27/11/2024 | 10:34 GMT by
Damian Chmiel
FCA Reduces Enforcement Timelines by Nearly 70%, Targets Financial Crime and Innovation
- The regulator mentioned that recent cases were closed in 13 months from the previous average of 42 months.
- The FCA is now exploring digital identity tools to streamline anti-money laundering processes without compromising security.
Tuesday, 26/11/2024 | 17:29 GMT by
Jared Kirui
This 20-Something Trader Outsmarted a Global Bank's Risk System, And Cost Them $58 Million
- Macquarie Bank's London branch employee, Travis Klein, evaded detection for 20 months despite multiple controls in place.
- The FCA fined MBL £13m for control failures that enabled a junior trader to hide millions in losses through fictitious trades.
Tuesday, 26/11/2024 | 10:22 GMT by
Damian Chmiel
FCA Concludes 16-Year Barclays Qatar Case With £40 Million Fine
- The banking giant agrees to pay a penalty for failing to disclose Qatari payment arrangements during 2008 crisis fundraising.
- Settlement ends decade-long regulatory battle and follows earlier acquittal of executives in criminal case.
Monday, 25/11/2024 | 08:09 GMT by
Damian Chmiel
FCA Eases “Name and Shame” Policy Following Industry Pushback
- The revised plan now includes a 10-day notice period for companies before the FCA makes any public announcement.
- It also includes a public interest test to help determine when it is appropriate to disclose a company’s name during an investigation.
Wednesday, 13/11/2024 | 14:36 GMT by
Jared Kirui
UK Financial Regulators Introduce New Rules for Critical Third-Party Risks
- The additional authority will enable regulators to oversee third-party services that may impact financial stability.
- The rules align with international standards, such as the EU’s Digital Operational Resilience Act.
Tuesday, 12/11/2024 | 11:01 GMT by
Tareq Sikder
Metro Bank's £51bn Blind Spot Leads to 3rd Largest FCA Fine of 2024
- Metro Bank faces a £16.7m fine from the FCA for failing to properly monitor over 60m transactions between 2016 and 2020.
- The bank's automated monitoring system reportedly had significant unaddressed flaws despite early warnings.
Tuesday, 12/11/2024 | 07:46 GMT by
Damian Chmiel
FCA's New Disclosure Rules: What Every Regulated Firm Must Know Now
- The regulator implements reform of enforcement disclosure procedures following the Upper Tribunal recommendation.
- Changes include broader document review standards and enhanced staff training.
Monday, 11/11/2024 | 15:54 GMT by
Damian Chmiel
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