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The Financial Conduct Authority (FCA)

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Retail FX

FCA Acts: Kent Resident Faces £2.67M Investment Scheme Charges

  • The allegations center around involvement in an unauthorized investment scheme named 'Kube Trading'.
  • The FCA has planned to enhance transparency by divulging more about its investigations into companies earlier.
by Tareq Sikder
Retail FX

FCA Wins Court Approval to Reclaim £1.6m from AWL and Director

  • AWL gathered £2.8 million through unauthorized deposits and schemes, according to the FCA.
  • Further court proceedings will decide how the funds from the agreement will be distributed.
by Tareq Sikder
FinTech

Alchemy Pay Invests in UK's LaPay to Expand Global Payment Solutions

  • LaPay holds a UK Authorised Payment Institution License regulated by the FCA.
  • Alchemy Pay holds regulatory licenses across four continents, totaling six licenses.
by Tareq Sikder
CryptoCurrency

LSE Opens Doors to Bitcoin and Ethereum ETN Applications

  • The proposed commencement date for trading these Crypto ETN securities is May 28.
  • The Exchange's decision hinges on the FCA's approval of base prospectuses.
by Tareq Sikder
Retail FX

Regulators Tackle Debt Collection Challenges amidst Cost of Living Surge

  • In 2020, firms paid £570 million in compensation for treatment deficiencies.
  • Banks are advised to improve the treatment of small business owners in debt collection.
by Tareq Sikder
Retail FX

FCA Naming Firms under Probe May “Cause Circumstances to Spiral out of Control”

  • Deterrence is a key factor in enforcement, but it is not a goal that stands alone.
  • With regard to the FCA’s initiative, deterrence will probably grow, but it comes at a price.
by Zvi Gabbay
FinTech

FCA Grants UK EMI Licence to Volt for Global Payment Expansion

  • The license advances Connect, issuing virtual accounts for account-to-account payments.
  • Research found that 50% of UK businesses struggle with payment processing control and visibility.
by Tareq Sikder
Retail FX

Intricacies of Regulatory Reporting: "AI Helps, but Brings Its Own Set of Challenges"

  • Finance Magnates talked to several regtech experts to know the nuances of regulatory reporting.
  • "Each regulator is putting their own spin on things... for no discernibly necessary reason," Quinn Perrott said.
by Arnab Shome
Retail FX

FCA Alert: Organised Crime Groups Exploiting Equity Markets Raises Concerns

  • Suspicious trading in the UK and international equities significantly impacts market integrity.
  • Key indicators of OCG exploitation include clients generating STORs, pre-M&A trading, and new security trading.
by Tareq Sikder
Institutional FX

Odey Asset Management Receives FCA Clearance amid Allegations of Sexual Misconduct

  • The inquiry into Crispin Odey and his firm was started in 2021.
  • In June, amidst allegations from thirteen women, the situation unfolded, leading to significant repercussions.
by Tareq Sikder
Retail FX

Premier FX Collapse: FCA's Reply to Commissioner's Report

  • The regulator will not provide additional compensation to the victims for complaint delays.
  • All 167 customers received reimbursements, with Barclays contributing £10,076,943.75.
by Tareq Sikder
Retail FX

'Double Dipping': FCA Wants Investment Platform to Cease the Controversial Practice

  • Many investment firms retain interest in customers' cash balances and charge fees for cash management.
  • UK firms have until 29 February to address the issues raised by the FCA.
by Arnab Shome
Retail FX

Regulatory Sloth: FCA Sluggish in Adapting to Financial Market Crimes

  • The FCA is undergoing major reform to combat financial crime faster.
  • A National Audit Office report has highlighted the need to effectively manage these changes.
by Damian Chmiel
News

FCA Flags Poloniex: Affiliation with Justin Sun Raises Concerns

  • Platforms, including HTX, experienced four hacks in the last two months.
  • Despite security efforts, Poloniex will gradually resume services for more cryptocurrencies.
by Tareq Sikder
FinTech

Crypto.com Secures FCA Nod for E-Money Offerings in the UK

  • 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.
by Tareq Sikder
Regulation

Temporary Measures: FCA Allows Investment Companies to Break Down Costs

  • 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.
by Tareq Sikder
FinTech

Navigating Financial Challenges: RFX Enters Special Administration

  • 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.
by Tareq Sikder
Retail FX

FCA Implements "Polluter Pays" Rule to Safeguard Personal Investments

  • New reserves would cover poor advice redress.
  • The regulator is now starting the consultation period, which runs until March 2023.
by Damian Chmiel
Retail FX

eToro Impersonation Scam: FCA Issues Warning on Clone Firm Deception

  • The FCA recommends individuals to verify financial service providers' credentials and cross-check information.
  • Earlier, the CNMV issued a warning against a clone firm impersonating eToro.
by Tareq Sikder
Retail FX

Santander’s Shadowy Twin Triggers FCA Warning

  • The British regulator warns against impersonating the popular bank.
  • This month is another warning from the FCA about a clone firm.
by Damian Chmiel
CryptoCurrency

FCA Unveils Fresh Guidance amidst Crypto Marketing Turmoil in the UK

  • The new crypto marketing rules have been in effect in the UK for a month.
  • Many firms still fail to meet the requirements, so the FCA is publishing new guidance.
by Damian Chmiel
CryptoCurrency

PayPal Gains Approval to Offer Crypto Services in the UK

  • The organization can hold and sell crypto but cannot expand its crypto offerings.
  • Interactive Brokers, Bitstamp, Komainu, and PayPal are the four companies to receive FCA crypto registration.
by Tareq Sikder
CryptoCurrency

UK Clarifies FCA’s Incoming Role in Regulating Stablecoins

  • The UK government is planning to propose legislation around stablecoin next year.
  • The FCA will have a broader oversight of the fiat-backed stablecoins.
by Arnab Shome
Retail FX

FCA's Data Publication: 5% Surge in Customer Complaints in H1

  • The Home Finance Product Group experienced a positive reduction of 10% in complaints.
  • Decumulation and Pensions experienced a notable rise of 20% in complaints.
by Tareq Sikder
FinTech

FCA and Modulr Agree on Customer Onboarding Restrictions amid Regulatory Changes

  • The UK's Financial Conduct Authority takes action against Modulr.
  • Modulr temporarily halts onboarding due to new UK regulations.
by Tareq Sikder
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