Financial Conduct Authority

Financial Conduct Authority is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry.

Source: fca.org.uk

UK’s FCA Proposes That Payments Firms’ Client Assets Be Held on Trust

UK’s FCA Proposes That Payments Firms’ Client Assets Be Held on Trust
UK’s FCA Proposes That Payments Firms’ Client Assets Be Held on Trust
September 25, 2024  |  Legal & Regulation

The United Kingdom’s Financial Conduct Authority (FCA) proposed requiring payments and eMoney firms to participate in a client assets (CASS) system in which funds and...

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FCA Head Nikhil Rathi Says AI Has Benefits and Risks for Financial Inclusion
FCA Head Nikhil Rathi Says AI Has Benefits and Risks for Financial Inclusion
September 19, 2024  |  Artificial Intelligence

The hyper-personalization of insurance enabled by artificial intelligence could benefit some customers but render others “uninsurable,” Nikhil Rathi, CEO of the United Kingdom’s Financial Conduct...

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UK’s FCA Cautions Banks About Lowering Savings Rates Too Quickly
UK’s FCA Cautions Banks About Lowering Savings Rates Too Quickly
September 18, 2024  |  Bank Regulation

At a time when the market expects interest rates to continue dropping, the United Kingdom’s Financial Conduct Authority (FCA) is cautioning banks and building societies...

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As Bank Branches Shutter, UK Regulators Push New Cash ‘Access’ Rules
As Bank Branches Shutter, UK Regulators Push New Cash ‘Access’ Rules
September 16, 2024  |  Cash

Cash may not be king in the digital age, but the dollars and the coins are still essential. Regulators and central banks, through new laws...

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This Week in Web3: Crypto Scams and Payments Surge
This Week in Web3: Crypto Scams and Payments Surge
September 11, 2024  |  Cryptocurrency

Cryptocurrencies were created to address supposed pain points across the financial system. By decentralizing transaction verification and record-keeping through a distributed ledger, blockchain-based digital assets...

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Unregistered Crypto ATMs Lead to Landmark UK Prosecution 
Unregistered Crypto ATMs Lead to Landmark UK Prosecution 
September 10, 2024  |  Legal & Regulation

A British regulator has charged a London man for operating several unlicensed crypto ATMs. Olumide Osunkoya, 45, has been charged with a running series of...

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Lloyds Calls for Swift End to British Car Loan Investigation
Lloyds Calls for Swift End to British Car Loan Investigation
September 09, 2024  |  Legal & Regulation

A U.K. banking executive says the country needs to resolve its unfair auto-lending practice investigation. Great Britain’s Financial Conduct Authority (FCA) said in July that...

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FCA: Banks Need to Make It Easier to Create Accounts
FCA: Banks Need to Make It Easier to Create Accounts
September 04, 2024  |  Bank Regulation

The U.K.’s Financial Conduct Authority (FCA) wants banks to make it easier for customers to apply for accounts. The regulator issued a report encouraging banks...

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