The FCA is stepping in to better protect customers when payments and e-money firms go out of business. Use of payments firms has grown in recent years, but the FCA says it continues to see poor safeguarding practices from firms. Funds held by payments and e-money firms are not directly protected by the Financial Services
New rules from the FCA to protect access to cash have come into force and are already having a positive impact in local communities. Since the rules were confirmed in July, LINK, which manages the UK’s cash access and ATM network, has reassessed the needs of local areas where banking services are changing. As a
The FCA has charged Mr Olumide Osunkoya, who is 45 and resides in London, for unlawfully running multiple crypto ATMs without FCA registration. Crypto ATMs are machines that allow you to buy or convert money into cryptoassets. Mr Osunkoya is accused of running crypto ATMs, which processed £2.6m in crypto transactions across multiple locations between 29 December
Mr Adrian Douglas, Mr Liam Martin and Mr Frank Oxberry have each referred their Decision Notices to the Upper Tribunal. The findings outlined in the Decision Notices given to them reflect the FCA’s belief as to what occurred and how it considers their conduct should be characterised. The proposed action outlined in their Decision Notices
The FCA has published its Annual Report, which shows significant improvements in its authorisations service. Read our Annual Report and Accounts Recognising the vital role that the regulator plays in enabling new financial services firms’ ability to meet regulatory standards to get off the ground, the FCA has improved its authorisation process. Now 98% of
