The U.K.’s financial watchdog has apparently dropped a probe into Monzo’s anti-money laundering system. That’s according to an item buried deep in the neobank’s annual report issued Monday (June 3), which notes that the Financial Conduct Authority (FCA) informed the company in November that it was no longer “assessing criminal liability...
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...
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...
June 05, 2024
The respective online “walls of shame” that U.S. and U.K. regulators have proposed to erect — spotlighting companies under various investigations — may have a chilling effect on competition and innovation. As has been reported in recent days, the Consumer Financial Protection Bureau (CFPB) issued a final rule to establish a registry of nonbank financial companies […]
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...
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...
June 04, 2024
The U.K.’s financial watchdog has apparently dropped a probe into Monzo’s anti-money laundering system. That’s according to an item buried deep in the neobank’s annual report issued Monday (June 3), which notes that the Financial Conduct Authority (FCA) informed the company in November that it was no longer “assessing criminal liability relating to Monzo’s compliance with the Money Laundering Regulations 2017.” […]
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...
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...
