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Retail FX

UK Banks to Pay £47M in Redress to Struggling Borrowers

  • The UK regulator found over 195,000 stressed customers.
  • It now wants to make pandemic-era rule permanent.
by Arnab Shome
CryptoCurrency

Canada Beats US, UK and China in Number of Gen Z Investors: FINRA

  • The study is based on a survey of nearly 2,900 Gen Z investors across the regions.
  • More than half of zoomers in the US are investors with crypto as their top choice.
by Solomon Oladipupo
FinTech

UK Tech Lobby Chief Backs Regulators against Microsoft, Revolut Spats

  • The banking application of Revolut is reportedly going to be scrapped.
  • A UK antitrust regulator blocked the merger of Microsoft and Activation Blizard.
by Arnab Shome
Retail FX

Trade.com’s UK Operator Becomes Profitable with 216% Revenue Jump

  • The trading brand launched its UK operations in October 2019.
  • It netted £140,694 last year in profit.
by Arnab Shome
CryptoCurrency

Crypto Trading Should Be Regulated as Gambling: UK Lawmakers

  • The lawmakers highlighted that Bitcoin and Ether are unbacked and volatile.
  • However, the UK government wants to regulate crypto as financial services.
by Arnab Shome
Retail FX

UK Flags Plus500 Clone, Italy Blocks ‘XTB Empire,’ 3 Others

  • The clone operates via www.fxplus500.co.uk.
  • Italy's CONSOB blacklisted 'VirtuFinance', Activ4X and Goldy Deal.
by Solomon Oladipupo
CryptoCurrency

Crypto Lender Nexo Moves to Disband UK Subsidiaries

  • However, the firm told Bloomberg it is not planning to leave the European country.
  • Nexo is battling prosecution in Bulgaria.
by Solomon Oladipupo
CryptoCurrency

Binance Eyes UK amid Regulatory Challenges in the US

  • The US regulators are taking action against many crypto companies.
  • Earlier, Binance withdrew its FCA registration application.
by Arnab Shome
FinTech

FCA Fines Banque Havilland £10M for Qatar-Targeted 'Manipulative Trading' Doc

  • The doc allegedly contains trading strategies that could hurt the Qatari economy.
  • The watchdog also imposed various fines on three ex-employees of the London branch.
by Solomon Oladipupo
FinTech

"We Will Outlaw So-Called ‘SIM Farms’": UK PM Declares War on Financial Fraud

  • Sunak launched a plan to tackle scams: "Fraud accounts for over 40% of crime."
  • The UK will ban all cold calls for financial products.
by Arnab Shome
Retail FX

FCA Finds “Gaps in Surveillance” among UK CFDs Providers

  • The FCA found weak surveillance of market manipulation and abuse of non-equity asset classes.
  • However, most of the regulator's findings 'were largely positive'.
by Solomon Oladipupo
CryptoCurrency

UK Crypto Revenue Growing Faster than US, Projected 125% in 2023

  • The UK's crypto revenue is expected to grow 18.9% annually, reaching $3.77 billion by 2027.
  • UK profits on digital assets are set to grow strongest among the top 5 digital economies in 2023.
by Damian Chmiel
Binary Options

UK Court Jails Three for Binary Options Scam

  • BMG offered investments in binary options trading but was a scam in reality.
  • The convicts used the investors' funds for personal spending.
by Arnab Shome
Retail FX

FCA Taps Love Island Contestant to Educate Finfluencers

  • The FCA and ASA jointly kicked off the education campaign.
  • Sharon Gaffka will help the agencies in the campaign.
by Arnab Shome
Institutional FX

FCA Permits ‘Synthetic’ US Dollar LIBOR ‘For a Short Period’ after June

  • The approval comes four months after FCA proposed 'synthetic' US dollar LIBOR settings.
  • The temporary benchmark will take effect from July 1, 2023.
by Solomon Oladipupo
Retail FX

OANDA Introduces CFDs Exposure to Popular US and UK Stocks

  • The launch offers new trading opportunities to OANDA's clients in emerging markets.
  • Some of included stocks include BP, Vodafone, Tesla and Amazon, among others.
by Solomon Oladipupo
FinTech

FCA Scolds Payment Firms over 'Lack of Controls'

  • The regulator said some firms are posing "unacceptable risks" to customers.
  • The FCA has also seen evidence of "elevated fraud rates" among some firms.
by Solomon Oladipupo
Retail FX

UAE’s Noor Capital Takes 75% Shareholding in UK Broker, House of Borse

  • Noor Capital's CEO and General Manager have been appointed Directors at House of Borse.
  • House of Borse has been serving professional clients since 2016.
by Solomon Oladipupo
FinTech

eToro Taps Moneyfarm to Provide UK Clients with Stocks & Shares ISA

  • The service is open to over three million registered eToro clients in the UK.
  • eToro has introduced new portfolio profiles to its users in recent months.
by Solomon Oladipupo
FinTech

Amidst Industry Rejig, UK Regulator Approves First Long-Term Asset Fund

  • The development dates back to finalization of rules for the new fund in October 2021.
  • The FCA worked with BoE and HM Treasury to break a barrier against long-term asset investment.
by Solomon Oladipupo
Payments

PayPoint Acquires Appreciate Group Sealing UK Expansion Goals

  • The acquisition deal was completed on Tuesday.
  • The entire team of Appreciate, including executives, has joined PayPoint.
by Arnab Shome
FinTech

Payoneer Secures UK Presence with New EMI License from FCA

  • Until now, the company operated in the country with its EU license.
  • It is now planning to expand its footprint in the UK.
by Arnab Shome
FinTech

UK Regulator Clamps Down on 1,400% More Rogue Financial Ads in 2022

  • The FCA published over 1,800 scam alerts last year.
  • The regulator says it will introduce new consumer duty obligations in July.
by Solomon Oladipupo
FinTech

Startup Atlantic Money Accuses UK Fintech Wise of Targeting Its Business

  • Wise runs currency transfer sites such as Exiap, Geldtransfer and Currencyshop.
  • The London-based company says it is not afraid of listing cheaper competitors.
by Solomon Oladipupo
Retail FX

UK Charges Ex-Janus Analyst and 4 Others with £1.5M Insider Dealing

  • The FCA alleged that they traded CFDs on 49 companies with their insider info.
  • Southwark Crown Court will hold a hearing on the case on February 22, 2023.
by Solomon Oladipupo
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