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Tag Archives: FCA

FCA proposes stronger protection for consumers in financial markets

Sheldon Mills, Executive Director of Consumers and Competition at the FCA

The FCA has today set out plans for a new Consumer Duty, which will set a higher level of consumer protection in retail financial markets for firms to adhere to.

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FCA stops FXVC offering CFDs to UK customers

FCA derivative cryptoasset

The FCA has acted to stop a Cypriot based firm, Finteractive Limited (trading as FXVC), from offering high risk contracts for difference (CFDs) to UK investors.

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FCA warns that younger investors are taking on big financial risks

FCA high-risk

The Financial Conduct Authority (FCA) has published research findings into better understanding investors who engage in high-risk investments like cryptocurrencies and foreign exchange.

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The End of LIBOR

LIBOR

The FCA has announced the dates that panel bank submissions for all LIBOR settings will cease, after which representative LIBOR rates will no longer be available

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FCA warns consumers of the risks of investments advertising high returns based on cryptoassets

Cryptocurrencies cryptoassets

The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked to cryptoassets, that promise high returns. Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks

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Brexit countdown for UK financial services sector

Brexit London

With one week to go until the end of the Brexit transition period, the FCA is urging financial services companies to ensure they are ready.

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FCA fines Charles Schwab UK £8.96 million over safeguarding and compliance failures

Charles Schwab UK Ltd

FCA has fined Charles Schwab UK Ltd (CSUK) £8.96 million for failing to adequately protect client assets, carrying out a regulated activity without permission and making a false statement to the FCA.

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FCA establishes Temporary Registration Regime for cryptoasset businesses

FCA derivative cryptoasset

FCA has established a Temporary Registration Regime to allow existing cryptoasset firms, who have applied to be registered with the FCA, to continue trading.

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Wirecard can resume regulated activity

FCA derivative cryptoasset

On 29 June 2020, the FCA provided written consent to allow Wirecard to resume issuing e-money and providing payment services. The restriction on activities will lift at 00.01 on 30 June 2020.

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FCA bars Cypriot firms that used unauthorised celebrity endorsements

FCA derivative cryptoasset

The FCA has taken action to stop four Cypriot investment firms from continuing to offer high risk contracts for difference (CFDs) to UK investors.

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