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Institutional FX

Capital Index's Struggles Continue: 2022 Revenue Down 14%

  • The company posted a net loss of £202,000 in 2022.
  • Its revenue decreased 30% in the previous year.
by Jared Kirui
Payments

The Adoption of Open Banking and Its Impact on the Payments Industry in the United Kingdom

  • Get to know the open banking landscape in the UK.
by FM Contributors
Retail FX

Webull Enters the UK after Launching in Three Major APAC Jurisdictions

  • Webull now extends its low-commission trading to UK residents.
  • The platform's expansion follows its success in several other global markets.
by Damian Chmiel
Retail FX

Three Out of Four Traders Consider ChatGPT a Trusted Source for Financial Advice

  • A majority of UK traders view ChatGPT as a reliable source of financial advice.
  • The study by Investor Index reveals a paradigm shift toward AI advisors.
by Damian Chmiel
FinTech

UK Regulators Set Up New Working Groups to Expand Open Banking

  • JROC seeks to expand the range of payment services in the UK's open banking industry.
  • The new working groups would also oversee the mitigation of the risks of financial crimes.
by Jared Kirui
FinTech

UK Unveils Two-Year Open Banking Development Plan to Boost Fintech Apps

  • FCA wants to see more competition in the open banking services industry.
  • Seven million Britons currently use the UK’s open banking products.
by Damian Chmiel
Retail FX

FCA Announces Joint Executive Directors for Enforcement and Market Oversight

  • Chambers and Smart will replace Steward.
  • Smart joins from the NCA, and Chambers has many years of experience from the FCA.
by Damian Chmiel
Institutional FX

90% of Market Participants See Elevated Risk in Moving to T+1 Settlements

  • The US decided to move from T+2 to T+1 settlements in May 2023.
  • According to the UK's market players, it may increase the risk of trade failures and penalties.
by Damian Chmiel
Institutional FX

UK's Silicon Valley Bank Sold for Just One Pound to HSBC

  • After SVB collapsed in the US, HSBC acquired the British part of the business.
  • SVB UK remains authorized by the PRA and the FCA.
by Damian Chmiel
Retail FX

FCA to Collect Up to £250k Economic Crime Levy, including Crypto Firms

  • The amount of the fee will depend on the company's revenue.
  • The smallest entities under the £10.2 million UK revenue are excluded.
by Damian Chmiel
Retail FX

FCA Consults on Asset Management Regulation Update

  • The FCA continues its three-year strategy of enhancing the local financial industry.
  • The UK's AM market is the second biggest in the world after the United States.
by Damian Chmiel
Retail FX

FCA Wants to Recover Money from Argento Wealth

  • The FCA commenced High Court proceedings against AWL.
  • AWL is not, and never has been, an FCA-authorised firm.
by Damian Chmiel
Executives

FCA Appoints Aidene Walsh as PSR Chair

  • She served as an interim Chair and has been connected with the entity since 2020.
  • Walsh simultaneously joins the FCA Board.
by Damian Chmiel
CryptoCurrency

UK Moves to Regulate Crypto for Better Consumer Protection

  • A public consultation was launched on 1 February and will run until 30 April.
  • The treasury will then prepare a draft bill, which the FCA will consult on with the industry.
by Damian Chmiel
FinTech

Fintech Funding Falls 30% Worldwide to $95b

  • In the UK, the slump was less painful, with an 8% decrease.
  • Publicly-listed fintech companies fared worse than tech and finance firms.
by Damian Chmiel
Retail FX

SmartTrade Technologies UK Limited Stays Pofitable Despite Challenging FY22

  • It closed the year with a net profit of £206,885.
  • SmartTrade Technologies UK Limited is the UK subsidiary
by Arnab Shome
Retail FX

FCA Sees Rising Costs of Compensation Scheme, Looks for Improvements

  • FSCS's increasing costs have begun to worry financial industry representatives.
  • The UK regulator makes another step in the compensation framework upgrade.
by Damian Chmiel
Retail FX

FCA Warns Brokers against CFDs 'Poor Practices'

  • 80% of retail traders are losing money when investing in CFDs.
  • Some CFD providers are still using practices the FCA disagrees with.
by Damian Chmiel
CryptoCurrency

Cryptocurrency Fraud in UK Rises by 32% to $270m

  • With high inflation and a deepening recession, customers are more vulnerable to scams.
  • The local police seized hundreds of millions of pounds in cryptocurrencies.
by Damian Chmiel
Retail FX

How Big Tech May Impact Financial Industry Competiton? FCA Wants to Know

  • The FCA is waiting for views on possible harm and benefits from Big Tech companies.
  • Responses can be provided by 15 January, 2023.
by Damian Chmiel
Retail FX

FCA Stops 16 Suspected CFDs Providers

  • The regulatory watchdog states that its action saved consumers £100 million a year.
  • Overall, the FCA has stopped 33 consumer investment firms.
by Damian Chmiel
Retail FX

Queen Elizabeth Passes Away at Age 96

  • The Queen has passed away after a 70 year reign.
by Finance Magnates Staff
Thought Leaders

Spread Betting - A Way to Trade the Markets in the UK

  • Spread betting enables traders to speculate on an asset’s price trajectory.
by FM
Brokers

8 Best Forex Brokers in the UK

  • Read an in-depth review of the top UK forex brokers.
by Finance Magnates Staff
Regulation

Liz Truss Elected as UK's Next Prime Minister

  • The race has officially been called after Ms Truss won 57.4% of votes from Conservatives.
by Finance Magnates Staff
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