Tag: fca
We are reminding all regulated firms of their existing obligations when they are interacting with or exposed to cryptoassets and related services. While cryptoassets and their underlying technologies can offer benefits to financial services firms e.g., reduce costs and increase efficiencies, they also present risks to market integrity and consumers, particularly when used as a […]
Speech by Brian Corr, Interim Director of Retail Lending at the FCA, delivered at Credit Summit 2022, on 23 March 2022. Speaker: Brian Corr, Interim Director of Retail LendingLocation: Credit Summit 2022, QEII Centre, LondonDelivered on: 23 March 2022Note: this is the speech as drafted and may differ from the delivered version Highlights Consumers are facing increasing financial pressure […]
Heritage Pensions Limited (Heritage), is a SIPP operator authorised and regulated by the FCA. On 17 March 2022 the directors appointed Paul David Williams and Edward Robert Bines of Kroll Advisory Ltd (“Kroll”) as joint liquidators. The liquidators are all qualified insolvency practitioners. We set out the steps Heritage clients should take and advice on […]
The FCA has begun discussions with stakeholders about options to allow UK authorised retail funds to make exceptional use of ‘side pockets’ given the significant practical challenges in disposing of Russian and Belarusian assets in the context of suspensions and extensive global sanctions. Side pockets would potentially give authorised fund managers the option to separate […]
On 15 March 2022 SD Taylor Limited (trading as ‘Loans at Home’) was placed into administration. Chris Laverty, Trevor O’Sullivan and Andrew Charters of Grant Thornton UK LLP were appointed as Joint Administrators. SD Taylor Limited is a high-cost lender. It offered home collected loans to customers with repayment periods between 14 and 63 […]
The MiFID II Article 2(1)(j) ancillary activities exemption enables firms trading in commodity derivatives, emission allowances and emission allowance derivatives to be exempt from authorisation as a MiFID investment firm if they fulfil certain criteria. As part of verifying that they fulfil these criteria, firms are currently required to perform the ‘market share test’ and […]
Regulated firms have already taken steps to avoid new investment in the Russian economy. Many asset managers and pension providers have written down any Russian assets already held by the fund or scheme to zero, and some have announced that they are intending to divest themselves of such assets when it is practical to do […]
The UK, in partnership with our allies across the globe, has imposed an unprecedented package of economic sanctions on Russia and Belarus, in response to Russia’s invasion of Ukraine on 24 February. The UK financial regulatory authorities reiterate that all UK financial services firms, including the cryptoasset sector, are expected to play their part in […]
We have warned operators of crypto ATMs in the UK to shut their machines down or face enforcement action. Crypto ATMs offering cryptoasset exchange services in the UK must be registered with us and comply with UK Money Laundering Regulations (MLR). None of the cryptoasset firms registered with us have been approved to offer crypto […]
Home News Recent statements by Binance and Eqonex Limited We are aware of recent statements made by Eqonex Limited and the Binance Group confirming that an entity called Bifinity will advance a US$36 million convertible loan to EQONEX. Through this loan, Bifinity has acquired some specific contractual rights over Eqonex Limited. Bifinity is the new […]
