Regulatory News and Updates

Regulatory alerts, events, and guides straight to your inbox with expert analysis.

[Regulatory News and Updates @Reg_Alert]

100,000 sites per day is approximately the number of new internet #domains registered every day. The #FCA has no enforcement powers over website content, especially that hosted outside of the UK, but being aware of potential new #scam sites will be a useful tool for them.

[Regulatory News and Updates @Reg_Alert]

FCA tackling scams faster as part of data strategy https://t.co/Kx580fLDbN via @Reg_Alert

[Regulatory News and Updates @Reg_Alert]

The UK is taking a different direction to the EU on the #TravelRule (TFR) and #Crypto.

[Regulatory News and Updates @Reg_Alert]

Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on
the Payer) Regulations 2017 Statutory Instrument 2022.

[Crypto Regulation @cryptoregulator]

UK amendments to the MLRs including response on the #TravelRule for #Crypto. https://t.co/qNRxrdxTke

[Regulatory News and Updates @Reg_Alert]

While this guidance is aimed at protecting access to cash and local banking services, it shows that the FCA is keen to see all firms performing assessments to understand the wider impact when they make changes to services.

[Regulatory News and Updates @Reg_Alert]

FCA to strengthen protection of access to banking services https://t.co/UstYaId3HG via @Reg_Alert

[Patrick Hansen @paddi_hansen]

1/6 Good news wrt the TFR (AML rule) in the EU 👏

In a letter from State Secretary @florian_toncar to MP @f_schaeffler the German Ministry of Finance opposes

• the comprehensive verification of "unhosted" wallets
• suspicion-independent transaction reports to AML authorities

[Crypto Regulation @cryptoregulator]

In the EU/UK Tether would have to publish their Core Equity Tier 1 (CET1) instrument balances to prove they are adequately capitalised to withstand liquidity shocks.

[Regulatory News and Updates @Reg_Alert]

The Covid pandemic put severe strain on MMFs as investors quickly sought access to cash. There is concern amongst authorities that underlying vulnerabilities within MMFs and threats to financial stability remain.

[Regulatory News and Updates @Reg_Alert]

UK authorities look to strengthen resilience of Money Market Funds https://t.co/eZHTyTzmc8 via @Reg_Alert

[Regulatory News and Updates @Reg_Alert]

MMFs are a type of open-ended investment fund, considered to be a low-risk investment that gives investors credit risk diversification and a place to hold, rather than grow, their assets.

[Regulatory News and Updates @Reg_Alert]

He also spends some time on how the UK's recent announcements about becoming a world-leader in cryptocurrencies will affect the FSCS and who will pay for the FCA to create the significant new regulation required.

[Regulatory News and Updates @Reg_Alert]

Listening up to level up – regulating finance for the whole of the UK https://t.co/LK9mcZsaCL via @Reg_Alert

[Regulatory News and Updates @Reg_Alert]

This transcript of the speech by the chair of the FCA is well worth reading by firms. In it Charles Randell covers the relationship between government policy and the regulator and notes where this has succeeded and failed.

[Regulatory News and Updates @Reg_Alert]

These powers also remind firms to review and remove unused permissions which could benefit them in reduced compliance costs.

[Regulatory News and Updates @Reg_Alert]

FCA strengthens consumer protection by speeding up removal of firms that do not use their regulatory permission https://t.co/wCVJROSbOL via @Reg_Alert

[Regulatory News and Updates @Reg_Alert]

Use it or lose it! This is sensible action from the FCA and will reduce the risk of harm to consumers from zombie firms who may be at more risk of "cloning" by fraudsters.

[Regulatory News and Updates @Reg_Alert]

The App-Rep system and Regulatory Hosting have always seemed at odds with the idea that those offering financial services should be carefully managed and regulated.

[Regulatory News and Updates @Reg_Alert]

FCA refuses authorisation to regulatory consultancy firm Alexander Jon Compliance Consulting Limited https://t.co/wppTVHtFXf via @Reg_Alert

[Regulatory News and Updates @Reg_Alert]

Those marketing cryptoassets must abide by the guidelines set out by the Advertising Standards Authority (ASA) in particular pointing out that there is no compensation scheme for investors in them.

[Regulatory News and Updates @Reg_Alert]

FCA reminds consumers of the risks of investing in cryptoassets https://t.co/gtZ0llk9eR via @Reg_Alert

[Regulatory News and Updates @Reg_Alert]

Since cryptoassets are not designated investments under FSMA in the UK, the FCA does not regulate their promotion under the Financial Promotions Order.