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FinTech

FCA and Bank of England Prioritize Payment Systems in Revised MoU

  • Regulators identified improvements in data sharing and expertise exchange over the past year.
  • The regulator committed to revising the MoU by the second quarter of 2025 to enhance cooperation.
Friday, 20/12/2024 | 20:56 GMT by Jared Kirui
Retail FX

UK Financial Regulators Introduce New Rules for Critical Third-Party Risks

  • The additional authority will enable regulators to oversee third-party services that may impact financial stability.
  • The rules align with international standards, such as the EU’s Digital Operational Resilience Act.
Tuesday, 12/11/2024 | 11:01 GMT by Tareq Sikder
Institutional FX

UK's FX Market Soars 14% in April, Driven by Rising Swap Trades

  • Bank of England's survey showed a daily turnover of $3,351 billion in April 2024, an 11% increase from April 2023.
  • FX swaps accounted for 45% of the total trading volume in April 2024, followed by FX spot trading at 29%.
Monday, 22/07/2024 | 18:47 GMT by Jared Kirui
Institutional FX

Project Meridian: FX Institutions Join Forces to Tackle Settlement Challenges

  • The joint initiative explores interoperability between RTGS systems and DLT platforms.
  • Meridian FX aims to enhance efficiency and innovation in wholesale payments.
Monday, 17/06/2024 | 09:09 GMT by Damian Chmiel
Payments

How a CBDC Could Reshape British Finance

  • The Intrigue and Intricacies of a Digital Pound
Monday, 15/04/2024 | 16:00 GMT by Pedro Ferreira
Payments

TCS Edges Closer to Taking Over UK's Faster Payments Service

  • This initiative aims to streamline clearing and settlement by overhauling the Faster Payments.
  • Earlier, the Australian Securities Exchange replaced CHESS with the TCS solution.
Tuesday, 06/02/2024 | 09:54 GMT by Tareq Sikder
CryptoCurrency

PayPal Gains FCA Crypto Approval as BoE Pushes Stablecoin Regulation

  • The Bank of England publishes a report detailing a proposed stablecoin regulatory regime.
  • PayPal has gained approval from the FCA in the UK as a registered cryptocurrency firm.
Friday, 10/11/2023 | 11:42 GMT by Sam White
CryptoCurrency

Stablecoins Pose “Significant Risk to Financial Stability”: Bank of England

  • The BoE will regulate fiat-backed stablecoins.
  • It published a discussion paper and will accept responses until 6 February 2024.
Monday, 06/11/2023 | 11:20 GMT by Arnab Shome
Institutional FX

Barclays’ Former CEO Fined £1.8 Million by FCA

  • A legal battle looms as appeals to the Upper Tribunal challenge the FCA's decision.
  • The FCA emphasizes the CEO's role in exercising sound judgment.
Thursday, 12/10/2023 | 12:09 GMT by Tareq Sikder
FinTech

Amidst Industry Rejig, UK Regulator Approves First Long-Term Asset Fund

  • The development dates back to finalization of rules for the new fund in October 2021.
  • The FCA worked with BoE and HM Treasury to break a barrier against long-term asset investment.
Thursday, 09/03/2023 | 13:23 GMT by Solomon Oladipupo
Institutional FX

Market Infrastructure Providers Greenlight BoE, FCA Supervision

  • The FCA is also seeking to enhance the UK's asset management laws.
  • Moreover, the markets supervisor is planning a new financial promotions regime.
Friday, 24/02/2023 | 16:22 GMT by Solomon Oladipupo
CryptoCurrency

Bank of England Pays £200k for Proof of Concept CBDC Wallet

  • BoE wants to build a simple CBDC deposit and withdrawal tool in five months.
  • The “Sample Wallet” will test different solutions before further on the UK’s digital currency.
Monday, 12/12/2022 | 10:14 GMT by Damian Chmiel
Executives

Bank of England’s FX Dealer Chris Mills Departs after 18 Years

  • Mills joined the UK central bank in 2004.
  • He managed the forex risk balance sheets of BoE and the UK Treasury.
Friday, 30/09/2022 | 19:29 GMT by Solomon Oladipupo
News

Bank of England and MIT Announce CBDC Collaboration

  • BOE and MIT have agreed to partner on a twelve-month research project on CBDCs.
  • The central bank is planning to explore opportunities within the CBDC ecosystem.
Monday, 28/03/2022 | 05:52 GMT by Bilal Jafar
News

People Should Be Cautious about Crypto Investing, Says Lord Hammond

  • Hammond said that crypto investing is not suitable for retail investors.
  • He previously served as the UK Chancellor of the exchequer.
Monday, 27/12/2021 | 08:05 GMT by Bilal Jafar
News

Bank of England Issues Warning on Rising Crypto Market

  • According to the BOE, crypto assets are risky for UK’s financial stability.
  • The Bank also highlighted the recent developments in the global crypto ecosystem.
Friday, 17/12/2021 | 10:44 GMT by Bilal Jafar
Regulation

Bank of England Remains Skeptical about Stablecoins as Form of Money

  • BoE's Governor expressed doubts about stablecoins to guarantee financial stability in a digital era.
Tuesday, 23/11/2021 | 21:37 GMT by Felipe Erazo
Executive Moves

Governor BOE Appoints Martin Pluves as an External Member of the FMI Board

  • Pluves previously served as CEO of LCH Limited.
Monday, 13/09/2021 | 12:46 GMT by Bilal Jafar
Executive Moves

Delta Capita Names Nicholas Bone, Head of Sales, Post-Trade Managed Services

  • Bone to drive growth of Delta Capita's global post-trade managed services offering focused on client engagement and development.
Tuesday, 13/07/2021 | 10:35 GMT by Tom Hazan
News

Bank of England to Add CBDC Support to New Payment System

  • The $195 million new system is expected to launch in 2022.
Thursday, 30/07/2020 | 16:01 GMT by Arnab Shome
News

Bank of England Governor Warns Against Impact of CBDC on Fiat

  • The BoE is currently looking into the feasibility of such a digital currency.
Thursday, 12/03/2020 | 13:38 GMT by Arnab Shome
Regulation

FCA Warns Firms Need to Accelerate LIBOR Transition Prep

  • Although some progress was made in 2019, the regulator warned there is much to do by 2021 end date.
Thursday, 16/01/2020 | 09:09 GMT by Celeste Skinner
Regulation

FCA, BoE and PRA Get New Powers for Hard Brexit

  • UK financial regulators will have extra powers if a deal with the European Union doesn’t materialize
Friday, 01/02/2019 | 17:08 GMT by Victor Golovtchenko
Regulation

FCA: New Settlement Internalization Reporting Obligations

  • From July 2019, firms within the United Kingdom will be obliged to report settlement internalisation to the BoE.
Thursday, 22/11/2018 | 11:15 GMT by Celeste Skinner
News

G20 Advisory Body Monitors Cryptocurrency, Releases Report

  • The Financial Stability Board does not consider cryptocurrency a threat to financial stability, yet.
Monday, 16/07/2018 | 09:40 GMT by Simon Golstein
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