Metro Bank fined £16.7m by the FCA for “financial crime failings”
The fine relates to historic deficiencies in the company’s transaction monitoring systems and controls.
Financial Conduct Authority
October 2024: Top five AI stories of the month
FinTech Futures takes a look back at five of the top AI stories from October.
Dutch paytech Online Payment Platform secures EMI licence in the UK
The company adds that the new licence “now allows OPP to offer a wallet solution” for businesses.
FinTech Futures: Top five news stories of the week – 25 October 2024
Our pick of the top fintech news stories this week includes Afin Bank, Zip, Socure and more.
UK government looks to strengthen BNPL protections with launch of latest consultation
The consultation proposes clearer information for BNPL consumers, as well as stronger dispute rights.
FinTech Futures: Top five news stories of the week – 11 October 2024
Our pick of the top fintech news stories this week includes Monese, TSB Bank, Temenos and more.
TSB Bank fined £10.9m by FCA over handling of customers facing financial difficulty
The fine follows an independent review commissioned by the FCA in July 2020.
FinTech Futures: Top five news stories of the week – 4 October 2024
Our pick of the top fintech news stories this week includes Starling Bank, Fiserv, HSBC, Monese and more.
FinTech Futures: Top five news stories of the week – 26 July 2024
Our pick of the top fintech news stories this week includes Revolut, UniCredit, Modulr and more.
FCA lifts partner onboarding restrictions on UK fintech Modulr
Modulr can now resume onboarding A&D partners but must inform the FCA when doing so.
FinTech Futures: Top five news stories of the week – 19 July 2024
Our pick of the top fintech news stories this week includes HSBC, Stripe, the FCA and more.
UK’s FCA imposes restrictions on e-money firm AstroPay
AstroPay blocked by the regulator from accepting new customer funds and providing payment services.
Citi fined £61.6m by UK regulators for “failures in its trading systems and controls”
The total penalty consists of a £33,880,000 fine from the PRA and a £27,766,200 fine from the FCA.
UK’s FCA and Bank of England launch consultation for Digital Securities Sandbox
Responses to the consultation are being accepted until 29 May, ahead of applications for the DSS opening this summer.
UK fintech start-up Silverbird enters special administration
Daniel Conway and Geoffrey Rowley of FRP Advisory have been appointed as joint special administrators.
Griffin receives full UK banking licence and $24m investment to spur growth
The licence approval from the FCA and PRA ends the platform’s year-long mobilisation period.
UK regulators issue joint proposals to tackle risk of financial instability posed by CTP dependency
The regulators are accepting feedback and expect to publish final requirements by H2 2024.
French paytech Worldline lands Payment Institution licence from UK’s FCA
Worldline had previously been operating under the FCA’s Temporary Permission Regime, which will end on 30 December.
FCA greenlights Klarna for payment and credit services in the UK
A newly formed entity, Klarna Financial Services UK, will now provide all consumer-facing services in the country.
FinTech Futures: Top five stories of the week – 17 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FCA places embattled Metro Bank on financial crime watchlist as rescue deal continues
Its position on the watchlist was revealed last week via the release of a 217-page dossier outlining a rescue deal for the bank.
FinTech Futures: Top five stories of the week – 3 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Dutch paytech Mollie receives UK payment institution licence from the FCA
Mollie CEO Koen Köppen says securing the new licence is “a huge milestone”.
UK’s FCA places partner onboarding restrictions on embedded payments platform Modulr
Modulr is working to ensure it meets evolving regulatory requirements following a period of growth.
How the UK’s FCA is set to scrutinise banks’ treatment of PEPs with new review
Dr Henry Balani of Encompass Corporation discusses the impact of the review on the UK banking system.
FinTech Futures: Top five stories of the week – 13 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK’s FCA certifies paytech Viva Group as e-money institution
The company describes the licencing as “a significant step forward” for its position in the UK neobanking market.
FCA’s new crypto marketing regime comes into force, regulator issues 146 alerts in first 24 hours
The regulator’s new rules for the promotion of cryptoassets went live on 8 October.
Fairer Finance appoints Tim Hogg as director to strengthen Consumer Duty expertise
Hogg describes Consumer Duty compliance as “a comprehensive, multifaceted obligation that demands a nuanced approach”.
FinTech Futures: Top five stories of the week – 25 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK’s Financial Conduct Authority to step up protections for cash access
In the UK, 3.1 million adults use cash to pay “for everything or most things”.
FCA asks UK banks to hand over data on bank account closures
The UK’s largest banks and building societies have until 25 August to supply the information.
FCA warns consumers against loan fee fraudsters amid rising summer borrowing
The average loss to loan fee fraud in the UK is £260.
FinTech Futures: Top five stories of the week – 4 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Challenging funding environment pushes LedgerEdge into administration
David Robert Baxendale and Edward John Macnamara have been appointed as joint administrators.
Principles, practices and persistence: the Consumer Duty deadline arrives
The regulation is set to completely transform the relationship between financial services firms and consumers.
FinTech Futures: Top five stories of the week – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Unregistered crypto ATM operators continue to feel the wrath of the FCA
Investigations have been carried out at sites in East London, Leeds, Exeter, Sheffield and Nottingham.
FCA continues clampdown on unregistered crypto ATMs in Exeter, Nottingham and Sheffield
The regulator says it will review the evidence gathered and consider taking further action where necessary.
FCA proposes listing regime revamp to make UK more competitive
The FCA says its proposals would make listing rules “more effective, easier to understand and more competitive”.
