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Executives

Robinhood Hires Freetrade’s Jordan Sinclair to Champion UK Launch

  • Public.com and Webull recently launched in the UK.
  • Robinhood aims to launch in the UK before year-end.
Thursday, 27/07/2023 | 22:44 GMT by Solomon Oladipupo
CryptoCurrency

UK Govt. Rejects Lawmakers’ Push to Regulate Crypto Trading as Gambling

  • The lawmakers in May argued that 'unbacked' crypto assets carry 'huge price volatility'.
  • However, the government believes such treatment violates international standards.
Thursday, 20/07/2023 | 12:33 GMT by Solomon Oladipupo
Payments

The Adoption of Open Banking and Its Impact on the Payments Industry in the United Kingdom

  • Get to know the open banking landscape in the UK.
Monday, 17/07/2023 | 12:07 GMT by FM Contributors
Retail FX

ADSS Quits UK Market to ‘Refocus’ on Other Entities

  • ADSS said the group remains 'well-capitalized'.
  • The firm's local entity gained FCA authorization in 2012.
Friday, 14/07/2023 | 16:54 GMT by Solomon Oladipupo
Brokers

Public.com Expands beyond the US, Launches in the UK

  • The platform will offer 5,000 US-listed equities to customers in the UK.
  • It is the first international market for the company outside the US.
Thursday, 13/07/2023 | 08:00 GMT by Arnab Shome
Regulation

‘A Lighter Regulatory Touch’? FCA’s Enforcement Cases Plummet in FY 22/23

  • The number of cases that the FCA opened dropped from 190 to 100 in FY22/23.
  • The British watchdog said its enforcement approach remains 'unchanged'.
Monday, 10/07/2023 | 18:11 GMT by Solomon Oladipupo
Brokers

XTB Goes beyond CFDs in the UK, Launches Stock Trading

  • It provides access to shares and ETFs listed in 15 major exchanges.
  • It also offers commission-free services to the first €100,000 traded.
Thursday, 06/07/2023 | 10:41 GMT by Arnab Shome
CryptoCurrency

UK Bill to Help Seize Crypto in Criminal Cases Gets Lords’ Approval

  • Lawmakers previously added provisions related to terrorist activity.
  • UK government recently introduced an 'economic crime levy'.
Tuesday, 04/07/2023 | 21:06 GMT by Solomon Oladipupo
Retail FX

UK CFDs Broker City Credit Capital Goes Bankrupt, Enters Administration

  • FCA appointed joint administrators for the firm last Friday.
  • CCCUK operated under the trading names CIX Markets and Markets Trader.
Tuesday, 04/07/2023 | 16:10 GMT by Solomon Oladipupo
CryptoCurrency

FCA Provides 4 'Legal Routes' for Compliance with Upcoming Crypto Promotion Rules

  • The FCA's new rules require ‘clear risk warnings’ on any crypto advert.
  • Thus, up to 2 years imprisonment, an unlimited fine, or both for violation of the rules.
Tuesday, 04/07/2023 | 13:34 GMT by Solomon Oladipupo
Retail FX

Weekly Poll: Do the Long-Term Benefits of UK Consumer Duty Outweigh Short-Term Costs?

  • Catch this week's poll on Finance Magnates' Linkedin.
  • Industry execs last week overwhelmingly supported multiple licenses among brokers.
Tuesday, 04/07/2023 | 11:11 GMT by Finance Magnates Staff
Retail FX

Exclusive: FCA "Will Not Move the Consumer Duty Deadline"

  • The UK watchdog answers some burning questions ahead of a looming deadline
  • Non-compliance by CFDs brokers will be met with 'swift and assertive' action
Monday, 03/07/2023 | 12:37 GMT by Arnab Shome
Retail FX

Only 61% of CFDs Brokers Will Fully Comply with UK’s Consumer Duty by Deadline

  • The FCA questioned 44 CFD brokers to know the industry’s position.
  • 100% of CFD brokers know the requirements and understand how they will be applied.
Monday, 03/07/2023 | 04:38 GMT by Arnab Shome
CryptoCurrency

UK Moves Closer to Crypto Laws with Parliament’s Upper House Approval

  • The Treasury recently consulted with the public on draft crypto rules.
  • The FCA's new rules for crypto ads will come into force in early October.
Monday, 19/06/2023 | 21:32 GMT by Solomon Oladipupo
CryptoCurrency

Binance Deregisters in the UK, Expediting Its EU Exodus

  • The unit was initially flagged by the FCA in mid-2021.
  • It never started to offer services and thus had no users.
Monday, 19/06/2023 | 06:11 GMT by Arnab Shome
FinTech

Revolut Suffers Another Valuation Hit as Molten Ventures Cuts Stake by 40%

  • Schroeder in April made a cut of 46% to its stake in the challenger bank.
  • Revolut recently reported its first full year of profit.
Thursday, 15/06/2023 | 15:26 GMT by Solomon Oladipupo
Retail FX

UK, New Zealand Regulators Slam 46 Illegal Trading Platforms

  • The platforms offer trading in FX/CFDs, stock and cryptocurrency.
  • The FMA said Market Radar and Rolvi Trade's customers cannot withdraw funds.
Monday, 12/06/2023 | 16:53 GMT by Solomon Oladipupo
Retail FX

Capital World Markets’ Run-Away Director Bags 14-Year Jail Sentence

  • Anthony Constantinou, who fled during the trial, was imprisoned on Friday.
  • The CWM boss fleeced investors of £70M via a Ponzi scheme.
Friday, 09/06/2023 | 17:27 GMT by Solomon Oladipupo
CryptoCurrency

FCA Seeks Incentives Ban with New Crypto Promotion Rules

  • The new rules will become effective from October 8.
  • Other requirements of the rules include risk disclosure and due diligence.
Thursday, 08/06/2023 | 05:39 GMT by Arnab Shome
CryptoCurrency

UK Lawmakers Seek Official's Appointment to Oversee Crypto Regulations

  • The lawmakers made 53 recommendations for crypto regulations.
  • Earlier, another group of UK lawmakers wanted to regulate crypto trading as gambling.
Monday, 05/06/2023 | 09:34 GMT by Arnab Shome
Retail FX

UK Banks to Pay £47M in Redress to Struggling Borrowers

  • The UK regulator found over 195,000 stressed customers.
  • It now wants to make pandemic-era rule permanent.
Thursday, 25/05/2023 | 10:33 GMT by Arnab Shome
CryptoCurrency

Canada Beats US, UK and China in Number of Gen Z Investors: FINRA

  • The study is based on a survey of nearly 2,900 Gen Z investors across the regions.
  • More than half of zoomers in the US are investors with crypto as their top choice.
Wednesday, 24/05/2023 | 22:18 GMT by Solomon Oladipupo
FinTech

UK Tech Lobby Chief Backs Regulators against Microsoft, Revolut Spats

  • The banking application of Revolut is reportedly going to be scrapped.
  • A UK antitrust regulator blocked the merger of Microsoft and Activation Blizard.
Monday, 22/05/2023 | 04:56 GMT by Arnab Shome
Retail FX

Trade.com’s UK Operator Becomes Profitable with 216% Revenue Jump

  • The trading brand launched its UK operations in October 2019.
  • It netted £140,694 last year in profit.
Wednesday, 17/05/2023 | 08:56 GMT by Arnab Shome
CryptoCurrency

Crypto Trading Should Be Regulated as Gambling: UK Lawmakers

  • The lawmakers highlighted that Bitcoin and Ether are unbacked and volatile.
  • However, the UK government wants to regulate crypto as financial services.
Wednesday, 17/05/2023 | 05:42 GMT by Arnab Shome
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