The head of the U.K.’s financial regulator announced plans to explore how big tech companies’ access to extensive data might lead to improved financial products and more options for consumers. The regulatory shift seeks to maximize artificial intelligence’s (AI’s) potential for innovation, competitive pricing and expanded options for consumers and businesses. The...
This week, an official with the Financial Conduct Authority (FCA), an agency tasked with overseeing firms and markets in the U.K., compared her job to that of a juggler. “Juggling is, at least metaphorically, a skill we regulators have to master,” said Sarah Pritchard, executive...
The British government is reportedly readying legislation for stablecoins and crypto staking, exchange and custody. “We are now working at pace to deliver the legislation to put our final proposals for our regime in place,” said Economic Secretary Bim Afolami, whose comments Monday (April 15) at the Innovate...
Amid a challenging economic landscape, the U.K.’s Financial Conduct Authority (FCA) has unveiled its Business Plan for the 2024-2025 fiscal year, marking the culmination of its three-year strategic roadmap. One of the focal points of this plan, particularly from a digital innovation perspective, is the imperative to combat financial crime. PYMNTS...
February 15, 2023
The U.K. has launched a long-awaited consultation aimed at regulating the BNPL sector. The eight-week consultation, which started Tuesday (Feb. 14) and was announced by the HM Treasury, comes two years after the government announced its intention to tighten rules around the use of interest-free buy now, pay later (BNPL) products and bring them into […]
December 24, 2021
This Christmas, the U.K.’s Financial Conduct Authority (FCA) is taking the fight against fraud to a whole new musical level. Earlier this month, the financial watchdog announced in a statement...
June 29, 2020
The pandemic has drastically affected how consumers are shopping and paying for even routine purchases, and this in turn has altered how businesses are accepting their payments. The rise of...
January 22, 2020
The rollout of PSD2’s Strong Customer Authentication (SCA) has been a bit bumpy, to say the least. A year ago (when the rollout was still officially on the calendar for...
May 08, 2024
The Financial Conduct Authority (FCA), the United Kingdom’s financial watchdog, has reportedly faced a backlash from the industry regarding its proposal to publicly disclose companies under investigation. Despite criticism from industry bodies and lawmakers, the FCA told the Treasury Committee Wednesday (May 8) that it remains committed to its initiative, Reuters reported Wednesday. The FCA unveiled its plans […]
April 15, 2024
The British government is reportedly readying legislation for stablecoins and crypto staking, exchange and custody. “We are now working at pace to deliver the legislation to put our final proposals for our...
March 26, 2024
The U.K.’s financial watchdog is warning social media influencers against making misleading financial services promotions. The Financial Conduct Authority (FCA) on Tuesday (March 26) issued guidelines aimed at social media advertising, telling influencers they...
February 25, 2024
England’s financial watchdog is taking a long look at the way lenders financed car loans. And that investigation could have broader implications for the country’s banking sector, Bloomberg News said...
