In our previous alert we mentioned a joint letter from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to the UK Government on their strategic approach to artificial intelligence (AI) and...more
11/6/2024
/ Artificial Intelligence ,
Bank of England ,
Banking Sector ,
Banks ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Board ,
FinTech ,
Machine Learning ,
Prudential Regulation Authority (PRA) ,
Risk Assessment ,
Risk Mitigation ,
UK
For any UK fintech business involved with payments of electronic money (e-money) and any (experienced) investor in these businesses, safeguarding client funds is a key regulatory issue....more
10/2/2024
/ Annual Reports ,
Auditors ,
Compliance ,
Consultation ,
Cryptocurrency ,
Customers ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Investors ,
Lehman Brothers ,
Money Transfer ,
Payment Systems ,
UK
On 7 December 2023, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) published a joint consultation paper titled ”CP26/23 - Operational resilience: Critical third parties to the UK financial...more
In a recent speech, Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), set out the FCA’s latest views on the role of artificial intelligence (AI) in financial services. The speech highlights many benefits but also...more
7/28/2023
/ Artificial Intelligence ,
Competition ,
Consumer Privacy Rights ,
Cyber Attacks ,
Cyber Crimes ,
Deep Fake ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Identity Theft ,
Machine Learning ,
Privacy Laws ,
Regulatory Agenda ,
Risk Assessment ,
Scams ,
SMCR ,
UK
On 12 July 2023, the UK Financial Conduct Authority (FCA) published Feedback Statement 23/4: The potential competition impacts of Big Tech entry and expansion in retail financial services (FS23/4). This summarised the...more
With more fintech’s looking to expand their businesses internationally, it can be daunting to navigate varying regulations across borders. This article focuses on regulations in the United Kingdom....more
5/1/2023
/ Anti-Money Laundering ,
Compliance ,
Cross-Border ,
Cross-Border Transactions ,
Cryptoassets ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FinTech ,
FSMA ,
MiFID ,
Payment Services Directive ,
Regulatory Requirements ,
UK ,
UK GDPR