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Retail FX
FCA Issues 1,716 Warnings about Unregistered Firms from April 2022 to March 2023
2023-12-08T19:25:27.471+02:00
The regulator prevented 1 in 5 new consumer investment firms from entering the market.
Inquiries about potential scams have increased 12% annually since 2020.
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CryptoCurrency
FCA Flags Crypto Exchange LYKKE for Unauthorized Financial Services Promotion
2023-12-08T16:17:37.689+02:00
LYKKE allegedly promotes its services without permission from the FCA.
FCA's cautionary alert provided specific details about the company.
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News
FCA Flags Poloniex: Affiliation with Justin Sun Raises Concerns
2023-12-07T14:46:25.277+02:00
Platforms, including HTX, experienced four hacks in the last two months.
Despite security efforts, Poloniex will gradually resume services for more cryptocurrencies.
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Institutional FX
FCA: Cash Savings Market Experiences Surging Interest Rates
2023-12-06T15:37:16.691+02:00
Easy access accounts are offering interest rates exceeding 5%.
FCA's intervention has led to a decline of £11 billion in non-interest-bearing accounts.
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Institutional FX
FCA Is Pushing for Enhanced Liquidity in Money Market Funds
2023-12-06T14:10:59.253+02:00
The FCA proposes reforms to enhance MMF resilience, aligning with international standards.
Revised measures target increased liquidity and reduced investor redemption controls.
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Retail FX
News Nuggets | 6 December: Capital.com Hires New CSO; Robinhood Adds 135 Symbols
2023-12-06T13:04:13.252+02:00
FCA warns against Christmas fraud; GSTechnologies purchases Semnet.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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Retail FX
News Nuggets | 5 December: Equals Updates on Acquisition; FCA Presents New Plans
2023-12-05T12:40:47.623+02:00
Also, Fintel purchased Synaptic Software; Nomura appointed new European Chairman.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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FinTech
Crypto.com Secures FCA Nod for E-Money Offerings in the UK
2023-12-04T12:16:08.110+02:00
The firm holds licenses from the Monetary Authority of Singapore, US, France, Singapore, Australia, etc.
Its Dubai entity, CRO DAX Middle East FZE, was granted a VASP Licence by the VARA.
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CryptoCurrency
Crypto Tax Haven? Switzerland Outpaces Regulatory Competition
2023-11-30T16:43:29.296+02:00
Switzerland's crypto regulation and taxation are better than the EU's MiCA laws.
The Swiss regulatory framework, overseen by FINMA, supports crypto exchanges.
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Regulation
Temporary Measures: FCA Allows Investment Companies to Break Down Costs
2023-11-30T14:22:06.221+02:00
Firms and funds are encouraged to incorporate additional details in line with the Consumer Duty.
Earlier, the organization proposed that investment firms maintain ample reserves for consumer compensation.
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FinTech
Navigating Financial Challenges: RFX Enters Special Administration
2023-11-30T12:49:36.560+02:00
The firm offers foreign exchange and payment services to corporate and retail customers.
Under special administration, the firm retains FCA authorization with JSAs overseeing court compliance.
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Retail FX
News Nuggets | 30 November: ASIC Revokes AFS License; FCA Fines Three Money Transfer Firms
2023-11-30T12:34:11.887+02:00
Also, FMA and FMSB collaborated; TradingView and Santander Financial started partnerships.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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CryptoCurrency
UK Government Urges Disclosure of Unpaid Crypto Taxes, Warns of Penalties
2023-11-29T18:41:03.294+02:00
Failure to comply within 30 days may lead to penalties in the UK.
The UK government is planning to incorporate crypto in self-assessment forms.
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Retail FX
FCA Implements "Polluter Pays" Rule to Safeguard Personal Investments
2023-11-29T10:14:11.801+02:00
New reserves would cover poor advice redress.
The regulator is now starting the consultation period, which runs until March 2023.
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Retail FX
News Nuggets | 28 November: Ledger Partners with YouHodler; KX Launches AI Server
2023-11-28T13:42:10.499+02:00
Also, FCA warned against two clone firms; Mastercard and Warply teamed up in MENA.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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FinTech
FCA Greenlights Worldline for the UK Fintech Expansion
2023-11-28T10:39:44.511+02:00
Worldline strengthens in the UK post-Brexit with FCA payment license.
The new authorization will allow the company to expand in the country.
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Retail FX
News Nuggets | 27 November: Argo Welcomes New CEO; HIVE Acquires Swedish Data Center
2023-11-27T12:35:52.842+02:00
Also, the FCA issued a warning against VentureXchange.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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Retail FX
FCA Targets over 700 Unused Financial Licenses in Consumer Safety Drive
2023-11-27T10:47:57.306+02:00
The UK regulator revokes unused financial licenses for consumer safety.
New laws have been in force since 2022.
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Retail FX
News Nuggets | 21 November: FCA and FMA Warns against Clones and Fraudsters
2023-11-21T12:21:22.306+02:00
Also, ASIC published enforcement plan; Plaid hires Adyen executive.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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Retail FX
Clone Firm Impersonates Legitimate IG Markets: FCA Warning
2023-11-13T15:00:50.554+02:00
Last week, the FCA revealed that a total of 54 entities were issued warnings.
If approached by an unauthorized or clone firm, individuals are urged to reach out to the FCA.
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Retail FX
FCA Cautions against Clone Firm Impersonating Finalto
2023-11-10T19:09:15.228+02:00
Finalto Pro is allegedly using the details of the FCA-authorized firm to deceive users.
Separately, CySEC has warned against four unauthorized investment firms.
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Retail FX
Santander’s Shadowy Twin Triggers FCA Warning
2023-11-08T12:48:57.210+02:00
The British regulator warns against impersonating the popular bank.
This month is another warning from the FCA about a clone firm.
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Retail FX
FCA's Review Reveals Alarming Trend: APP Scam Losses Soar
2023-11-07T14:08:21.734+02:00
In the first half, there were £239.3 million in losses from APP scams, marking an increase of 22%.
£152.8 million, representing 64% of the losses, was reimbursed to victims.
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Retail FX
FCA Issues Warning about Clone Firm Impersonating Plus500UK
2023-11-06T16:56:09.946+02:00
A deceptive entity is operating under the website www.plus500un.com
The public is urged to stay cautious and promptly report any suspicious financial activities to the FCA.
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Retail FX
News Nuggets | 6 November: VT Markets Expands Team; eToro Implements New Tax Rules
2023-11-06T14:12:38.399+02:00
Also, CFTC files fraud charges against FX operator; ASIC launches legal action against Telstra Super.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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