Tag: Statements
We are aware of recent statements made by Bitpanda announcing the acquisition of Trustology Limited. Trustology is a cryptoasset business which the FCA registered under the Money Laundering Regulations (MLRs) in October 2021. As a result of the transaction, Bitpanda has become the new beneficial owner of Trustology for the purposes of the MLRs. The […]
From 29 July 2022, the Financial Conduct Authority (FCA) will regulate funeral plan providers, following a change in the law. Ahead of that, the FCA is assessing applications from funeral plan providers for authorisation. This process is to ensure: firms sell products which offer fair value, meet consumer needs and are sold fairly firms are […]
The Bank of England (BoE), the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Payment Systems Regulator (PSR) have a Memorandum of Understanding (MoU) that sets out the high-level framework the Authorities use to cooperate with one another, in relation to payment systems in the UK. The Financial Services (Banking Reform Act) […]
This statement summarises the changes made by four BNPL firms to their contract terms and contains guidance for firms in this sector more generally. BNPL is a broad term and covers a variety of credit agreements, typically used to spread the cost of purchases. Not all BNPL products are regulated by the FCA under consumer […]
Following news of the death of Lord Myners, Nikhil Rathi, Chief Executive of the FCA, issued the following statement on the organisation’s behalf: ‘I am saddened to hear about the death of Lord Myners. I had the privilege to work closely with Paul during the financial crisis and saw at first hand his ability to […]
We are putting in place temporary measures for the reporting of the short selling indicator in transaction reports while we consider changes to the UK transaction reporting regime. Transaction reports submitted to the FCA under UK MiFIR must contain a designation to identify a short sale. This information is contained in the short selling indicator […]
The Financial Conduct Authority (FCA) announces that it has completed its assessment of applications received from European DataWarehouse Ltd and SecRep Limited as Securitisation Repositories (SRs) under the UK Securitisation Regulation and has decided to register both entities with effect from 17 January 2022. The obligation to report public securitisations within the scope of the […]
As part of the Financial Services Act 2021, Parliament legislated to extend the Undertakings for the Collective Investment in Transferable Securities (UCITS) exemption in The Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation (as enacted in retained EU law) by 5 years – from 31 December 2021 to 31 December 2026. This extension means that […]
We are aware of a remote code execution vulnerability (CVE-2021-44228) that is affecting multiple versions of the Apache Log4j 2 library. The National Cyber Security Centre (NCSC) is aware that scanning for this vulnerability has been detected in the UK and exploitation detected elsewhere. The NCSC has published guidance for firms to help identify if […]
Home News FCA and PSR respond to announcement from Cash Action Group (CAG) Statements First published: 15/12/2021 Last updated: 15/12/2021 We respond to the Cash Action Group’s (CAG) announcement that retail banks and building societies will create an independent body to assess the needs of local communities and direct cash solutions. We are pleased to […]
