Lloyds profits drop as PPI legacy takes its toll
The bank has eight times more than expected for PPI claims.
Financial Conduct Authority
FCA appoints Christopher Woolard as interim chief
Former head of strategy takes over from BoE-bound Andrew Bailey.
Bank of England finds two-thirds of industry using machine learning
Firms would like to see more guidance around ML regulations.
World Federation of Exchanges outlines opposition to FCA crypto-derivative ban
UK watchdog wants to protect retail customers from scams
France warns UK to avoid Brexit derivatives clash
AMF wants Britain to guard against potential for arbitrage opportunities.
Top fintech stories this week – 2 August 2019
FNZ acquires GBST, LSE to buy Refinitiv, and more!
VibePay prepares for launch with FCA approval
The first product to market will be a consumer app launching in September 2019.
FCA tackles overdraft rules on new consultation paper
It proposes more transparency for better customer experience.
Standard Chartered fined $1.1bn for bad AML and sanctions breach
Both US and UK regulators have imposed large penalties.
Goldman Sachs fined £34.3m for misreporting transactions
FCA found the firm made 220.2m errors.
UBS bank fined £28m by FCA for misreporting transactions
This comes on the back of a series of penalties in the past few months.
FCA urges end to exit fees on investment platforms
UK’s Financial Conduct Authority calls for feedback and more competition.
UK crypto consumers completely clueless
FCA reveals findings from first cryptoassets research.
UK fintech regulator puts bigger fines on the menu
FCA confirms increase in Financial Ombudsman Service award limit.
UK banking data reveals eruption of disruption
Last year was arguably not a good one for banking across the nation.
FCA shows iron fist for anti-competition in asset management
Three firms have been declared in breach of the UK authority’s regulation.
FCA appoints new chair for Financial Services Consumer Panel
Wanda Goldwag will start role from 1 March 2019.
UK regulator urges vigilance over investment scams
Last year was a shocker. Action Fraud reveals over £197 million of reported losses.
FCA answers calls for cryptoasset clarity
UK’s Financial Conduct Authority goes consulting again.
UK’s Financial Conduct Authority deepens Brexit prep
Wants feedback on financial services contracts regime and securitisation repositories.
UK fintech is slow runner in cyber defence race
Financial Conduct Authority evokes movie magic and urges need for speed.
FCA’s crypto force looking into limiting exchange tokens
It used the word “prohibition”!
CreditLadder receives FCA approval for payments
As well as approval for account information services.
FCA moves to cloud with Sopra Steria
A long-standing collaboration just got cloud-ier.
FCA fines Tesco Bank £16.4m for failures in 2016 cyberattack
Regulator cites deficiencies in debit card design and lack of care.
UK regulators unleash new insurer start-up unit
Will help firms apply and get authorised for insurtech action.
FCA and CMA demand transparency in banking service quality
Asking banks to publish customer ratings.
Regulator syndicate unleashes Global Financial Innovation Network
Builds on UK regulator’s plan to create a global sandbox.
UK regulator wants end to payments conduct unbecoming
FCA wants to improve conduct standards and communications in paytech.
UK regulator clamps down on crowdfunding
Financial Conduct Authority proposes changes to rules and calls for feedback.
UK regulators want banks to offer resilience brilliance
BoE, PRA and FCA call for feedback from firms and financial market infrastructures.
FCA reveals financial strife of urban and rural life
It’s mainly obvious, but explained in depth.
Infographic: high-cost credit – FCA findings and proposals
UK’s Financial Conduct Authority wants to protect people who use overdrafts and high-cost credit.
UK regulator knocks out seven shades of fintech hits
Another speech. Another conference. Another plan.
FCA looking to clear up cryptocurrency derivatives confusion
Clarity courtesy of the UK’s Financial Conduct Authority.
FCA gets it on for UK asset management competition
Financial Conduct Authority explains next steps and timelines.
FCA welcomes EU agreement on Brexit
Everyone be cool. This is Brexit.
UK regulator turns cash saver with new credit card rules
FCA says new rules will save consumers between £310m and £1.3bn a year in lower interest charges.
FCA orders Vanquis to repay customers £168m for price disclosure fails
Also hit with fine of £1.97m for not disclosing full price of an add-on product.
FCA calls for smarter regulatory reporting
Looking for views on how technology can help firms meet their regulatory reporting requirements.
