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.
FCA
FCA fines HSBC £64m for failings in its AML processes
The FCA says HSBC’s transaction monitoring systems showed “serious weaknesses” between 2010 and 2018.
Aiimi wins £1.3m data analytics contract with FCA
Milton Keynes-based data firm wins regulator contract running until April 2024.
NatWest pleads guilty to £365m money laundering failure
UK bank faces rare criminal proceedings in December.
Hoddle hires former FCA man Gidla as new COO
John Gidla joins the fintech after three years at the Financial Conduct Authority.
FCA says crypto exchange Binance is “not capable” of supervision
UK regulator issued a now-revealed warning to Binance in June.
Video: fintech news pick of the week – Rapyd, Monzo and Mercury
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
FCA investigating Monzo as challenger reports £115m yearly loss
The FCA is investigating Monzo over potential breaches of money laundering laws.
Video: fintech news pick of the week – Wise, LBGI and Circle
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
FCA research reveals 21% increase in cryptoasset ownership
The watchdog estimates that around 2.3 million adults in the UK now hold cryptoassets.
FCA: “Significantly high” number of crypto firms not meeting AML standards
The UK watchdog has extended application deadlines for firms to seek regulation.
Video: pick of the week – UK regulators not happy with some fintechs and AmEx
A top pick of stories from the world of finance and tech in bitesize video format, twice a week.
FCA demands UK fintechs clarify non-bank status to customers
Companies have six weeks to write to their customers.
FCA plans whistleblower support with new campaign
UK regulator to provide greater help to those willing to come forward.
NatWest faces FCA money laundering charge over £365m account
The bank will appear before Westminster Magistrates’ Court next month.
Bank of England governor key architect in RBS scandal which left businesses in ruin
Bailey did not disclose his hand in creating the Asset Protection Agency.
FCA boosts data strategy with new executive hires
Stephanie Cohen, Jessica Rusu, Sarah Pritchard, and Emily Sheppard all join the watchdog.
More than 90% of UK’s financial firms still rely on legacy tech, says FCA
Some 33% admit “most” of their technology is legacy.
EXCLUSIVE: Wirex users hit by unexplained account restrictions and “disappearing” funds
A growing number of customers are fleeing Wirex.
FCA and UK Treasury “acting swiftly” to regulate fast-growing BNPL firms
The FCA is anxious about the number of citizens who will find themselves in debt.
FCA warns crypto investors could “lose all their money” after Bitcoin dips again
“Operating without a registration is a criminal offence,” says the FCA.
FCA: Thousands of financial firms risk failing as pandemic persists
Payments and e-money firms experienced an 11% decrease in available liquidity.
FCA makes major changes following LCF and Connaught review
Firms that have not used their regulatory permissions for the last 12 months are at risk of having it revoked.
2020 review: Top five cyberattacks this year
Cybercriminals haven’t stopped their activities in 2020.
FCA joins cross-border fintech testing initiative
The UK regulator is one of 23 regulators taking part in the project.
FCA and PRA fine Goldman Sachs £96.6m for 1MDB scandal
The investigation found that GSI breached a number of FCA and PRA principles and rules.
FCA survey shows 12 million UK adults struggling with debt payments
“Our surveys have shown that younger and BAME consumers have been impacted more than others.”
FCA to ban the sale of crypto-derivatives to retail customers
UK regulator aims to clamp down on products “ill-suited” to the public.
FCA calls for input on retail investment sector “not working as it should”
UK regulator wants input on how better to regulate the sector.
FCA shuts down half its money-laundering investigations in 2020
It stopped seven of the 14 investigations into money laundering since January.
FCA accused of rushing consultation to minimise own failings
The complaints commissioner criticises the timing and lack of promotion.
EBA looks into adoption of regtech across EU
The banking questionnaire covers initiatives that could support the uptake of regtech solutions.
FCA posts concerns over repeat lending by credit firms
UK watchdog highlights issue with letting users borrow again and again.
Applications for FCA’s sixth regulatory sandbox drop more than 30%
Last year, the sandbox recieved a record 99 applications.
FCA confirms post-Brexit cooperation deals with EU regulators
UK watchdog says agreements remain “relevant and appropriate”.
FCA lifts restrictions on Wirecard Card Solutions
UK watchdog allows payments to restart.
FCA prepares shift to new data collection platform RegData
This is in response to industry feedback about the Gabriel system over the past three years.
FCA permanently bans marketing of mini bonds
The FCA will extend it to other speculative investments that are hard to trade.
Commerzbank fined £37.8m by FCA for AML failings
The London branch of the bank dragged up for issues between 2012 and 2017.
FCA extends SCA deadline for merchants by six months
The new timeline is 14 September 2021.
