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"The authorisation process has been a learning curve" - Credit Strategy

Thu, 07/20/2017 - 14:38

Credit Strategy

"The authorisation process has been a learning curve"
Credit Strategy
Dollar UK's authorisation process took place throughout 2015, by which point we had long welcomed regulation and put in place many measures that went over and above the FCA's rules. For example, we scrapped default fees altogether, and ensured there ...

"The authorisation process has been a learning curve" - Credit Strategy

Thu, 07/20/2017 - 14:38

"The authorisation process has been a learning curve"
Credit Strategy
In 2014 it came under Financial Conduct Authority (FCA) regulation, with the government's express aim of getting rid of rogue lenders. As part of this, interest rates were capped, and changes to affordability assessments and collections practices were ...

Categories: Alt Fi

Regular overseas payments - what are the options for businesses? - Telegraph.co.uk

Thu, 07/20/2017 - 13:36

Telegraph.co.uk

Regular overseas payments - what are the options for businesses?
Telegraph.co.uk
There's no compensation scheme available if a foreign currency transfer company goes bust, but companies which are authorised by the FCA have to keep your money separate from company funds. This means that in the event the company runs into ...

Categories: Alt Fi

FCA urges groups to adopt 'remediation measures' as review finds failings in post-Brexit property turmoil - Investment Week

Thu, 07/20/2017 - 11:04

Investment Week

FCA urges groups to adopt 'remediation measures' as review finds failings in post-Brexit property turmoil
Investment Week
... and requirements. The regulator, which engaged with over 60 firms, found authorised fund managers (AFMs) "did not adequately plan, or have clear policies and procedures, for valuing their property portfolios under stressed market conditions".
UK property funds planned poorly for Brexit vote turmoil - watchdogReuters UK
UK watchdog said funds poorly prepared for Brexit vote turbulenceReuters UK

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Categories: Crowdfunding

FCA forced to change register updates after complaint - Money Marketing

Thu, 07/20/2017 - 09:39

Money Marketing

FCA forced to change register updates after complaint
Money Marketing
The FCA has changed the way it issues updates to the FCA register after a complaint uncovered firms are able to carry on writing business despite changes to their regulatory permissions. An investigation by the Complaints Commissioner found a firm had ...

FSCS to payout over FCA censured firm - FT Adviser

Thu, 07/20/2017 - 07:54

FSCS to payout over FCA censured firm
FT Adviser
The firm reached an agreement with the FCA to cease any activity relating to pension switches or transfers into self-invested personal pensions but carried out 78 transactions anyway. Among the other advice firms declared in default are Kidderminster ...

FCA visits nine advice firms in DB transfer review - Citywire.co.uk

Thu, 07/20/2017 - 07:42

FCA visits nine advice firms in DB transfer review
Citywire.co.uk
Selectapension Bureau Services also announced in June it has suspended its DB transfer service for IFAs after an FCA visit, but it has not changed its permissions on the FCA register as the other three firms have. ... Whilst this will no doubt result ...

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Categories: Alt Fi

Robo onslaught continues with two new launches - Citywire.co.uk

Thu, 07/20/2017 - 06:55

Citywire.co.uk

Robo onslaught continues with two new launches
Citywire.co.uk
The second firm looking to carve niche for itself in the robo-advice market is Exo Investing, which has now received FCA authorisation. Exo will offer a range of portfolios built using ETFs, which will be rebalanced around the clock. Exo Investing is ...

First FCA undertaking under Consumer Rights Act published - Lexology (registration)

Wed, 07/19/2017 - 17:08

First FCA undertaking under Consumer Rights Act published
Lexology (registration)
On 12 July 2017, the Financial Conduct Authority (“FCA”) published on its website notice of an undertaking given by London General Insurance Company Limited (“LGIC”) in respect of the terms and conditions of LGIC's extended warranty policy (the “Policy ...

UK's Financial Conduct Authority: The Use Of The Interbank Rate In Online Currency Converter Tools - Exchange News Direct

Wed, 07/19/2017 - 14:44

UK's Financial Conduct Authority: The Use Of The Interbank Rate In Online Currency Converter Tools
Exchange News Direct
The FCA is concerned that payment institutions and e-money institutions may have used currency converter tools in relation to their currency transfer services[1]in a misleading way. Tools which convert currency at the interbank rate ... E-money ...

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Ninth Circuit Affirms Viability of FCA Liability for Misrepresentations to FDA - Lexology (registration)

Wed, 07/19/2017 - 11:56

Ninth Circuit Affirms Viability of FCA Liability for Misrepresentations to FDA
Lexology (registration)
By providing drugs that were not manufactured fully in accordance with the terms of their FDA-approved NDAs, the defendant sold “nonconforming goods” to the government and the resulting claims for those drugs were factually false. ... Fraud on the FDA ...

Authorisation: One year on from a new start - Credit Strategy

Wed, 07/19/2017 - 11:03

Credit Strategy

Authorisation: One year on from a new start
Credit Strategy
Dollar UK's authorisation process took place throughout 2015, by which point we had long welcomed regulation and put in place many measures that went over and above the FCA's rules. For example, we scrapped default fees altogether, and ensured there ...

'City will have to launch Brexit plans if there is no transitional deal' - The Guardian

Tue, 07/18/2017 - 18:50

The Guardian

'City will have to launch Brexit plans if there is no transitional deal'
The Guardian
These passporting rights mean that banks can operate out of London in other members of the EU without the need for extra regulatory approval. James Cowles, who runs Citi's operations in Europe, the Middle East and Africa, said in January: “Our issue is ...

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Categories: Crowdfunding

UK Meets Its Obligation to Transpose MiFID II into UK Law on Time - Lexology (registration)

Tue, 07/18/2017 - 10:30

UK Meets Its Obligation to Transpose MiFID II into UK Law on Time
Lexology (registration)
Unexpectedly, FCA has rowed back on its proposal to apply the enhanced best execution regime under MiFID II to investment managers not covered by MiFID II, i.e., to full-scope UK AIFMs, FCA authorised sub-threshold UK AIFMs, and residual fund operators ...

Google News

FCA includes 92 firms in DB transfer advice review - Money Marketing

Tue, 07/18/2017 - 07:48

Money Marketing

FCA includes 92 firms in DB transfer advice review
Money Marketing
At present, Money Marketing is aware of three firms that have been visited by the FCA (Tideway, CFPML and HDIFA), two that have signed voluntary agreements to cease business (Intelligent Pensions and Financial Solutions Midhurst), one that was ordered ...

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Categories: Crowdfunding

Rescue deal saves jobs at debt management firm - Insider Media

Tue, 07/18/2017 - 07:35

Insider Media

Rescue deal saves jobs at debt management firm
Insider Media
Immediately upon appointment, the joint administrators sold the business and assets of Baines & Ernst to MoneyPlus, a third party, fellow Financial Conduct Authority (FCA)-regulated financial solutions provider, resulting in the transfer of all 80 ...

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Categories: , P2P Lending

FundingKnight granted full FCA authorisation - Bridging & Commerical

Tue, 07/18/2017 - 06:28

Bridging & Commerical

FundingKnight granted full FCA authorisation
Bridging & Commerical
Caroline Langron, managing director of Sancus in the UK, added: “We are delighted to have secured FCA authorisation, which demonstrates that we employ robust procedures and processes to ensure we protect both our funders and clients. “The SME sector ...

Investors using their pension pots to back property investment - the Irish News

Tue, 07/18/2017 - 01:00

the Irish News

Investors using their pension pots to back property investment
the Irish News
There is also a major variance in how the two products are regulated, with anyone wishing to operate a SIPP first required to apply to the Financial Conduct Authority (FCA) for approval. A recent tightening of regulations, meanwhile, means SIPP ...

Categories: Crowdfunding

Bloomberg BDRSL Secures FCA Approval for MIFID II MDP System Testing - Finance Magnates

Mon, 07/17/2017 - 16:13

Finance Magnates

Bloomberg BDRSL Secures FCA Approval for MIFID II MDP System Testing
Finance Magnates
Until the end of this year, the FCA's approval allows Bloomberg's BDRSL to demonstrate conformance and compliance with the former's technical specifications after being on-boarded to the MDP. This includes the service's Approved Reporting Mechanism ...
Bloomberg receives FCA approval for MiFID II MDP testingFTSE Global Markets

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Categories: Crowdfunding

Bloomberg BDRSL Secures FCA Approval for MIFID II MDP System's Testing - Finance Magnates

Mon, 07/17/2017 - 15:09

Finance Magnates

Bloomberg BDRSL Secures FCA Approval for MIFID II MDP System's Testing
Finance Magnates
Until the end of this year, the FCA's approval allows Bloomberg's BDRSL to demonstrate conformance and compliance with the FCA's technical specification after being on-boarded on to the MDP. This includes the service's Approved Reporting Mechanism (ARM ...
Bloomberg receives FCA approval for MiFID II MDP testing - FTSE ...FTSE Global Markets

all 4 news articles »

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