FT Alphaville takes a close look at some of the findings from the Financial Conduct Authority report on their regulatory sandbox; the positives include weeding out the more risky ideas and that 41 of 146 applicants were able to make it through the testing phase; the negatives include distributed ledger technology that shows some of the testing is on too small a scale to really understand whether or not it would actually work. Source.
The UK based Financial Conduct Authority is proposing new rules to simplify the savings market; banks will be able to...
Mastercard expands cryptocurrency program to allow more firms to issue cards on its network Inside Betterment’s move into banking with...
The UK’s Financial Conduct Authority found that the number of crypto and forex fraud claims tripled in the last year...
The UK’s Financial Conduct Authority plans to move forward with overdraft changes in April which would allow for banks to...
UK based financial services companies saw a significant rise in cyber attacks in 2018, the industry as a whole saw...
The Financial Conduct Authority is proposing new rules for those that offer cash savings; under the plans, financial institutions will...
British Business Bank (BBB) is a government-owned entity designed to support small businesses in the UK through a fund with 1 billion British pounds ($1.27 billion); it currently has 85 million British pounds ($108 million) invested in the P2P lending industry; the Financial Conduct Authority's release of an update on the crowdfunding market last week noting a number of factors for further investigation has caused taxpayers to question the large allocation to the P2P lending sector; specifically John O'Connell, chief executive of the TaxPayers' Alliance, has said, "This is extremely concerning and taxpayers will want to know how this can be good use of their money."; according to a Freedom of Information request reported on by Business Insider, the allocations from BBB include 60 million British pounds ($76 million) invested with Funding Circle, 15 million British pounds ($19 million) invested with MarketInvoice and 10 million British pounds ($13 million) invested with RateSetter. Source
The UK’s financial watchdog, the Financial Conduct Authority, issued a warning to investors regarding initial coin offerings (ICOs); in particular they warned of the “high risk, speculative” nature of the new capital raising method; financial regulators worldwide have begun cracking down on ICOs in recent months, China has banned them and the SEC in the US issued a similar warning as the UK. Source
The collapse of property lending platform Lendy in the UK has investors concerned about their £165 million of money invested...