Tag: FCA

March 11, 2019 BY Valentina Kirilova

FCA: 73% of UK consumers cannot define what cryptocurrency is

The UK’s Financial Conduct Authority (FCA) released two research reports focused on analyzing consumer attitudes towards cryptocurrencies such as Ethereum and Bitcoin. The research teams asked UK consumers to participate in qualitative interviews as well as in a nationwide survey. The qualitative research revealed that consumers could be potentially harmed by crypto assets since many…

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February 25, 2019 BY Valentina Kirilova

UK and US regulators issue joint statement on post-Brexit derivatives trading

The U.S. Commodity Futures Trading Commission (CFTC) today issued a joint statement in collaboration with three U.K. regulators, which are the Bank of England (BoE), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), regarding activities relating to the trading and clearing of derivatives between both countries after Brexit. The statement reassured market…

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fca cftc regulation
February 19, 2019 BY Valentina Kirilova

FCA names new Chair of the Financial Services Consumer Panel

The UK’s Financial Conduct Authority (FCA) has today named Wanda Goldwag as the new Chairperson of the autonomous Financial Services Consumer Panel for an initial 3-year term starting on 1 March 2019; her nomination was approved by Her Majesty’s Treasury. In her new role, Wanda Goldwag will provide strategic direction to the FCA by communicating…

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February 01, 2019 BY Valentina Kirilova

FCA agrees MoUs with ESMA and EU regulators

Busy Friday for the UK regulator FCA, as it has just released another announcement that it has agreed Memoranda of Understanding (MoUs) with ESMA and EU regulators. The FCA has explained earlier today how it would use the temporary transitional power in an UK leaves the European Union without a withdrawal agreement scenario. The MoUs cover cooperation…

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January 23, 2019 BY Valentina Kirilova

FCA helps firms understand whether their cryptoasset activities fall under regulation

UK financial regulator the Financial Conduct Authority (FCA) has announced that it is today consulting on guidance, which, once finalised, will set out the cryptoasset activities it regulates. With this move, the regulator aims to help firms understand whether their cryptoasset activities fall under FCA regulation. Christopher Woolard, executive director of Strategy and Competition at…

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FCA to reform the way banks charge for overdrafts
December 18, 2018 BY Valentina Kirilova

FCA to reform the way banks charge for overdrafts

The Financial Conduct Authority (FCA) has just announced that it intends to change how banks charge for overdrafts. Alongside this, the FCA will extend protections for other high-cost credit products. Andrew Bailey, Chief Executive of the FCA commented: Today we are proposing to make the biggest intervention in the overdraft market for a generation. These…

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G20 group adopts tough FATF KYC/AML rules: Debate is how to implement
December 17, 2018 BY Valentina Kirilova

FCA publishes new rules and fees for CMCs

The Financial Conduct Authority (FCA) has just published its new rules and fees that will apply to all claims management companies (CMCs) from April 2019. Jonathan Davidson, Executive Director of Supervision – Retail and Authorisations at the FCA, said: We’re ready to take over regulation on 1 April 2019. The new regime aims to drive…

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