Tagged: fca

The UK Financial Conduct Authority Looks to Update Rules for Loan Based Crowdfunding which is “Increasingly Complex,” Opens New Consultation

Investment Crowdfunding Rules Deemed Satisfactory. The UK Financial Conduct Authority (FCA) has finally released its long awaited post-implementation review of crowdfunding regulation. As has been widely rumored for quite some time, the FCA is looking to adjust rules governing loan based crowdfunding, also labeled peer… Read More

The Financial Conduct Authority Annual Report: “The FCA has been a consistent champion of Fintech and Regtech”

The leading financial regulator in the United Kingdom released their annual report this week. The Financial Conduct Authority (FCA) tackled a wide spectrum of issues in the report including the forthcoming separation from Europe. But the FCA also addressed their ongoing intent to foster an… Read More

Sovren Seeks to Become First UK Regulated Digital Asset Exchange, Plans Initial Coin Offering

UK based Sovren says it will launch the first digital asset exchange to be regulated by the Financial Conduct Authority (FCA) and accessible to institutional investors. The creation of two ex-bankers, Sovren has also announced an Initial Coin Offering (ICO) planned for Q3 this year…. Read More

Blockchain based Finance: BlockEx Comments on Acceptance into FCA Fintech Sandbox, Preps Digital Bond Service

The Financial Conduct Authority (FCA) posted its next cohort of Fintech companies accepted into their regulatory sandbox and several blockchain based companies were on the list. BlockEx, a company that is launching a digital bond service on blockchain, was one of these companies.  BlockEx expects… Read More

Blockchain Platform 20|30 to Test Issuance of Equity Tokens Under FCA Fintech Sandbox Guidance

Yesterday, the Financial Conduct Authority announced the next cohort of firms to be accepted into its Fintech Sandbox program. Within this group is a good number of crypto / blockchain. One of these firms, 20|30, will commence test initial coin offerings that will be equity… Read More

Fintech Sandbox: FCA Announces 29 Firms for Fourth Cohort for Innovative Regulatory Process

The UK Financial Conduct Authority (FCA) has posted the 29 firms that will be part of the fourth cohort of the Fintech sandbox. The UK was the trailblazing regulatory agency that first created an environment where innovative financial firms could safely experiment with new services… Read More

FCA Competition Director Chris Woolard Addresses Financial Crime & Virtual Currencies

Christopher Woolard, Executive Director of Strategy and Competition at the Financial Conduct Authority (FCA), delivered a speech today on the hot topic of cybersecurity, crime and financial services. Delivered at a “TechSprint” in London, Woolard said it was time to bring regulators and tech specialists… Read More

FCA Business Plan Seeks to Maximize Fintech Competition & Innovation

Andrew Bailey, Chief Executive of the UK Financial Conduct Authority (FCA), addressed the regulator’s business plan for the coming year in a speech this week. Touching upon innovations in financial services, Bailey stated; “Fintech and Big Data are transforming financial services. We will seek to… Read More

Recent Speech by UK Regulator on Crypto says Approach Needs to be “Not Inhibiting the Benefits, nor Overlooking the Risks”

In a speech delivered by UK FCA Competition Director Mary Starks, the public official addressed the topics of blockchain technology and cryptocurrencies. Regarding blockchain or distributed ledger technology (DLT), Starks was more optimistic. Regarding cryptocurrencies, or “cryptoassets” as she labeled them, she was more circumspect…. Read More

More Fintech Please: FCA Says Mortgage Industry in Need of Innovation

The Financial Conduct Authority (FCA) has published an interim report on UK mortgage market. According to the FCA, Mortgage debt accounts for over 80% of total UK household liabilities – so this is a significant sector of finance that has a profound impact on individuals. While… Read More

Growth Street Celebrates Full FCA Authorization & New GrowthLine Lending Product: Need to Borrow £2M?

UK alternative finance firm Growth Street has been granted full FCA authorization,  a significant milestone for Growth Street, which had been operating as an Appointed Representative of Resolution Compliance Limited since 2016. “We’re delighted to be fully authorized and regulated by the FCA. It’s a… Read More

UK FCA Says Loan Fee Scams Now Most Common Fraud

The UK Financial Conduct Authority (FCA) says that loan fee scams is now the most common scam in financial services topping investment fraud. The shift is largely due to the emergence of online lending as victims are targeting while searching for loans on the internet…. Read More

First! Bank of England Approves Transferwise as a Payment Service Provider with Direct Access to UK Payment System

The Bank of England has approved the first non-bank payment service provider to join the UK payment system settling in central bank money. Described as a milestone event for the BoE in accommodating innovation, this is the first Fintech to gain direct accesss. Transferwise is… Read More

Fintech Bridge: Crowd2Fund to Expand into Australia

UK peer to peer lending platform Crowd2Fund is opening an Australian office becoming one the first UK-based companies to utilise the new ‘Fintech Bridge’ between the UK and Australia that was recently announced by both countries. Signed in March, the agreement between the UK Financial… Read More

Will UK Regulatory Approach Trump the US in Enabling Cryptocurrency Innovation?

The Financial Conduct Authority (FCA) has recently published a note stating they are aware of a growing number of UK firms issuing cryptocurrencies or digital assets associated with initial coin offerings. These vehicles are currently not directly regulated but the FCA, and other policy types,… Read More

Here is the Enhanced Fintech Cooperation Agreement Between the UK FCA and the Australian Securities & Investment Commission

As was announced earlier today (and leaked out earlier this week) the Australian and UK governments have signed an “enhanced cooperation agreement” on Fintech innovation. Under the new agreement the Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA) will continue to… Read More

Christopher Woolard, FCA Director of Competition: Regulators Must Work Together to Foster Fintech Innovation

Christopher Woolard, the UK’s Financial Conduct Authority  Executive Director of Strategy and Competition, delivered a keynote speech today at the Innovate Finance Global Summit. Woolard is the defender and champion of the vital competition mandate that has made the FCA a successful financial regulator.  Woolard… Read More

Coinbase Receives e-Money License from UK Financial Conduct Authority, Opens an Account with Barclays

Coinbase, one of the largest cryptocurrency exchanges in the world, has received an e-money license from the UK Financial Conduct Authority (FCA). This will enable Coinbase to offer payments in the UK while supporting the UK’s Faster Payments Scheme. Simultaneously, Coinbase has partnered with Barclays… Read More

Competition Counts: Former FCA Innovation Lead Shares Experience at UK Regulator, Explains New Role at Cambridge Centre for Alternative Finance

The Cambridge Centre for Alternative Finance (CCAF) is the leading research authority on global innovations in finance. Over the past several years, CCAF has produced benchmark reports tracking the growth and evolution of all forms of Fintech around the world. These reports have become valued… Read More

Collateral Shut Down: UK P2P Lender Has Gone Into Administration

Collateral, a UK-based peer to peer lending platform, has reportedly gone into administration after trading without a proper license. According to various reports, a letter was sent to investors from the company’s administrator, named Gordon Craig, that stated the company was operating in the belief that… Read More

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