News
Stay up to date with the latest news in fintech, crypto, and digital finance. Our News section delivers concise, insightful coverage of market developments, funding rounds, regulatory updates, and innovations shaping the financial technology landscape.
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Legal Challenge Over Bond Consolidated Tape Contract
Recently, a legal challenge arose against the decision to award the bond consolidated tape provider contract. Authorities responded by confirming a fair, competitive 2-stage process. This process was to ensure the selected provider could deliver high-quality tape and offer the best value. Crowdfund Insider provided this information. The bond consolidated tape provider holds a vital…
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FCA Chief Economist Advocates for Risk Rebalance in Finance
At the Warwick Business School, Financial Conduct Authority (FCA) chief economist, Kate Collyer, recently discussed the decade-long productivity issue in the financial sector. She suggested that the UK’s economic growth has been lacklustre since the financial crisis. To address this, she proposed a rebalancing of risk to stimulate innovation and growth. During her speech, Collyer…
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FCA Plans to Cut Data Reporting for Retail Firms
The Financial Conduct Authority (FCA) plans to slash data reporting requirements for retail intermediary firms. This move is likely to benefit around 11,000 businesses nationwide. The FCA’s goal is to support these firms by reducing the frequency of Retail Mediation Activities Return (RMAR) submissions, while still maintaining consumer outcome comprehension. The RMAR plays a vital…
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Legal Challenge Halts Selection of Bond Tape Provider
A legal challenge currently questions the selection process of a bond consolidated tape provider. The disputed contract aims to ensure high-quality tape delivery and value for money. The decision followed a competitive 2-stage process to meet the industry’s strict demands. However, an undisclosed party has legally objected. Find more details here. Despite the challenge, the…
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FCA to Cut Data Reporting for 11,000 Retail Firms
The Financial Conduct Authority (FCA) plans to further lessen data reporting requirements, potentially benefiting around 11,000 retail intermediary firms. This decision focuses on the regular submission of the Retail Mediation Activities Return (RMAR), a report that helps firms understand consumer outcomes and spot potential retail intermediary issues. More information on this subject is available at…
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Fintech Update 202509271812
In an age where technology is swiftly advancing, many financial services firms are grappling with the challenge of modernising their core systems. The traditional method of a full rip-and-replace of legacy systems is often seen as a risky move. However, a new approach has surfaced, promising to connect old and new while unifying data and…
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Legal Challenge over Bond Consolidated Tape Contract
The recent decision to award the contract for the bond consolidated tape provider has sparked a legal challenge. The awarding body defended their decision, asserting that they held a fair, competitive two-stage process. Their aim was to ensure the selected provider could deliver a high-quality tape at the best value for money. The role of…
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FCA Launches £1M Campaign for Motor Finance Scheme Awareness
The Financial Conduct Authority (FCA) is launching a £1 million campaign to promote an upcoming motor finance compensation scheme. This significant move aims to increase transparency and protect consumers by informing them about their ability to access the scheme directly, eliminating the need for a claims management company (CMC) or law firm. Designed to demystify…
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FCA Warns of High-Risk Schemes from Unregulated Firms
Unregulated firms propose high-risk schemes, presenting potential hazards to investors. The Financial Conduct Authority (FCA) has voiced concerns about this increasing trend. A significant number of investors could be jumping in without a complete understanding of the associated risks. These firms often sidestep FCA authorisation through legal loopholes. Unlike their regulated counterparts, unregulated firms don’t…
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Monmouth’s New Banking Hub Celebrates FCA Cash Rules
Recently, the Welsh town of Monmouth celebrated a new banking hub’s inauguration, a noteworthy event. This celebration coincided with the Financial Conduct Authority’s (FCA) first anniversary of implementing access to cash regulations. These rules aim to preserve community access to cash services amidst the rising popularity of digital banking. According to FCA regulations, banks and…
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FCA Drops Investigation into Wellesley & Co Limited
The Financial Conduct Authority (FCA) recently wrapped up its investigation into Wellesley & Co Limited (WCL). They confirmed that they won’t take any further action. The FCA launched the investigation into WCL in 2022. This followed the entrance of Wellesley Finance Ltd (WFL), an unregulated entity, into a Company Voluntary Arrangement (CVA). They announced the…
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FCA Seeks Feedback on Crypto Firm Standards Proposal
The FCA (Financial Conduct Authority) is calling for feedback on a set of proposals. These aim to establish minimum standards for cryptocurrency firms. The proposals mirror many regulations already in place for traditional financial organisations. This includes rules on operational resilience and crime-fighting systems and controls. The FCA’s proposals aim to promote good business practices…
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Legal Challenge to Bond Tape Provider Contract Stirs Fintech
Recent news highlights a legal challenge to the bond consolidated tape provider’s contract. The awarding body has acknowledged this challenge, illuminating their decision-making process. They implemented a transparent, competitive two-stage process. This approach aimed to ensure the selected provider could deliver a high-quality tape at the best value. The goal was to assure fairness and…