The big FinTech story of the weekend was the move by the UK’s lead financial regulator, the Financial Conduct Authority to clamp down on much of the cryptocurrency trading activity in the UK. Crypto transactions are opaque (the transaction is easy to see on the blockchain, but the true identity of the beneficial owner of […]
The UK regulatory authorities are making the best of a bad job. Cryptocurrencies are here to stay, of that there’s no doubt – but regulation, and consequent auditing and taxation of taring and investment gain of these assets are still some way off. Our friends at AltFi report on the latest developments here in Britain. […]
Financial regulatory authorities are trying hard to keep up with – or even stay ahead of – the pace of change in the digital aspects of FinTech. Increased vigilance is the least that should be happening, for a number of good reasons. Our friends at AltFi report on one of them here: The pandemic has […]
The Financial Conduct Authority comes in for plenty of criticism, but it seems to be ahead of the game when addressing the potential credit disaster that is waiting to happen as the long-term effects of Covid-19 kick in. Our friends at P2P Finance News report: The Financial Conduct Authority (FCA) has said guidance on payment […]
A recent article in the redoubtable FT Adviser looks at the Financial Conduct Authority’s (FCA) rules on “speculative illiquid assets”. We welcome the advent of the rules, as we do the media analysis of them. But it’s very, very important to distinguish between these investments (known in many cases as “mini-bonds”) and platform lending. Last […]
As predicted, the new regime of tighter regulation in platform lending, or peer-to-peer (P2P) lending is seeing some shake-out. One immediate consequence seems to be that those platforms with business models aimed at lending to carefully vetted businesses will do better than those lending to individuals. IBS Intelligence reports on the closure of a platform […]
P2P lenders could be in for further scrutiny from the Financial Conduct Authority (FCA) after the collapse of FundingSecure exposed client money failures, compliance experts have warned in a report by our friends at P2P Finance News. At Money&Co. we had a routine audit with the FCA a few months ago – and passed with […]
In this third instalment of our review of alternative lending, we look at the Financial Conduct Authority’s view of the sector. There’s been a greater focus on the sector following the failure of peer-to-peer (P2P) platforms such as Lendy. Lendy’s failure was linked – completely unfairly – with a number of problems experienced by investors […]