Revolut granted UK trading licence from FCA
Revolut now plans to launch new trading products covering UK and EU stocks and ETFs.
FCA
October 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories from October.
FCA debuts AI Lab to promote safe use of AI in UK financial sector
The AI Lab is designed to facilitate the “safe and responsible use of AI in UK financial markets”.
FCA fines Starling Bank £29m for sanctions screening failures
Starling was found to have opened over 54,000 accounts for high-risk customers.
Coinbase’s CB Payments unit fined £3.5m by FCA
The FCA claims CBPL breached a requirement that prevented it from offering services to “high-risk customers”.
FCA issues new guidelines to ensure cash access for consumers and small enterprises
Fourteen banks and building societies are set to implement the new cash access system.
FCA announces “biggest changes” to the UK’s listing regime “in over three decades”
The new rules aim to “support a wider range of companies to issue their shares on a UK exchange”.
FinTech Futures: Top five news stories of the week – 31 May 2024
Our pick of the top fintech news stories this week includes HSBC, XYB, ABN Amro and more.
FinTech Futures: Top five news stories of the week – 24 May 2024
Our pick of the top fintech news stories this week includes JP Morgan Chase, Citi, BBVA, OpenAI and more.
Real-time payments platform Volt lands UK EMI licence from FCA
With the new licence, Volt plans to enhance its cash management offering Connect to include virtual accounts.
Business spend management platform Payhawk lands UK EMI licence
The fintech unicorn previously gained an EMI licence from the central bank of Lithuania in July.
UK’s FCA proposes new rules to protect access to cash
The regulator says designated banks and building societies need to assess the gaps in access to cash.
Crypto.com lands EMI licence from the UK’s Financial Conduct Authority
Crypto.com says it now plans to roll out a suite of e-money products customised for the UK market.
FCA calls for “robust frameworks” to detect fraud and support victims
The regulator recently reviewed how firms tackle fraud and handle complaints from customers.
Mangopay secures UK EMI licence from the FCA
The authorisation will enable Mangopay to offer its full suite of services to new and existing UK customers.
Regulators of UK, Singapore, Switzerland and Japan launch collaborative effort to explore digital asset use cases
Project Guardian aims to share knowledge about the benefits and risks of asset and fund tokenisation.
UK’s FCA orders electronic money issuer Nvayo to suspend operations
Nvayo says that it “is working with the FCA to resolve their concerns and hope to find a solution”.
Revolut reportedly in talks with the UK’s FCA over AML failures
The fintech reportedly allowed funds to be released from accounts which were flagged as suspicious by the National Crime Agency (NCA).
FinTech Futures: Top five stories of the week – 11 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Payabl. secures EMI licence in the UK
Payabl. says the authorisation will “unlock significant opportunities” as it looks to expand across the UK.
The FCA’s Consumer Duty clamps down on unfair savings rates
The regulator’s 14-point plan seeks fairer interest rates on UK savings accounts.
Fintechs call on UK government to put an end to hidden fees in cross-border payments
15 fintechs including Wise, Monzo, Revolut and Klarna have penned an open letter to UK chancellor Jeremy Hunt.
FCA to permanently launch Digital Sandbox next month
The Digital Sandbox has previously only been available to developers via pilots and TechSprints.
UK’s National Audit Office launches FCA review
The review will examine how the FCA is working to overcome new challenges and take advantage of opportunities.
AI-driven financial services must also champion fraud prevention, FCA warns
Cybersecurity must develop in tandem with AI, the regulator’s chief executive said this week.
UK FCA toughens rules for marketing of cryptoassets
From 8 October, companies will have to introduce a “cooling-off period” for first-time investors.
Money20/20 Europe: How open banking is paving the way for “limitless” data-led opportunities
Money20/20 Europe opened this year with a discussion on how open banking is driving global innovation.
UK payments start-up PayFuture secures EMI licence from FCA
PayFuture aims to help businesses connect with local payment options in emerging markets.
UK’s FCA selects NayaOne to build and operate Digital Sandbox platform
The Digital Sandbox provides a “safe and secure” environment for companies to build and test their products.
Paynetics lands UK EMI licence from the FCA
Paynetics was previously operating in the UK under the FCA’s Temporary Permission Regime.
FCA orders closure of WealthTek, joint special administrators appointed
The FCA ordered WealthTek to cease all operations last week, citing “serious regulatory and operational issues”.
UK payments start-up Ryft secures FCA licence
The company raised £1.5 million in a seed funding round last year.
FCA outlines expectations for payment firms’ customer protections
It says many firms present “an unacceptable risk of harm” to their customers.
UK regulators fine TSB £48.6m over “operational resilience failings”
The FCA says technical failures in TSB’s IT system led to customers being unable to access banking services.
FinTech Futures: Top five stories of the week – 25 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Gatehouse Bank handed £1.5m fine by FCA over “poor” AML checks
Gatehouse Bank agreed to settle early, which led to a 30% reduction to the original penalty of £2.2 million.
FCA tells banks to treat struggling small business borrowers fairly
The move comes as part of the regulator’s work in response to the increasing cost of living.
FCA proposes updated guidance to protect access to banking services
Banks and building societies will have to assess the impact of any reduction in the services they provide.
Monzo warned by CMA over retail banking order breach
The agency says Monzo has taken adequate steps to end the breach and prevent a recurrence.
Video: fintech news pick of the week – Amazon, Visa, Bolt & Lunar
Our top pick of news from the world of finance and tech in bitesize video format, every week.
