The Financial Conduct Authority (FCA) has opened a consultation on a proposed ban of cryptocurrency products.
Swedbank has become the second Scandinavian bank to oust its CEO over an ongoing money laundering scandal.
Calls for an investigation into the actions of the Financial Conduct Authority (FCA) emerge after the collapse of the financial company, London Capital & Finance (LC&F).
The HKMA (Hong Kong Monetary Authority) recently granted a virtual banking license to Ping An OneConnect, a fintech (financial technology) branch of one of China’s largest insurance companies Ping An Insurance.
Monzo (the UK-based trending ‘challenger’ bank) has set up business in the United States. The digital bank has received fresh funds to double its valuation to exceed £2bn, in just 8 months.
The All-Party Parliamentary Group (APPG, an independent organisation made up of MPs) has intervened in a Supreme Court case to help small businesses against financial institutions by closing a legal loophole which banks have used to exploit distressed companies.
Two years after Andrew Baily, head of the FCA (Libor’s regulator), effectively stated that LIBOR would be gone by 2021, the FCA and the Bank of England (BoE) recently encouraged banks to move to the new benchmark SONIA.
The Competition and Markets Authority (CMA) has recommended that the Big Four accountancy firms should separate their professional services and audit work.
This week, Facebook plans to reveal details of its cryptocurrency, called “GlobalCoin”. The coin will be in circulation by early 2020 and is to be used across 12 countries. Facebook CEO Mark Zuckerberg hopes GlobalCoin will allow Facebook’s 2.4 billion monthly users to send money as easily as sending a photo.
Traders from Barclays, RBS, JP Morgan, Citigroup and MUFG have been fined €1.07 billion by the European Commission for rigging the foreign exchange market.