Financial Conduct Authority (FCA) issued a notice flagging a company purporting to be APM Capital Markets Limited, an affiliated company to the entity that bought BUX Financial Services. According to the regulator, the clone firm uses the website www.buxtrmarkets.com to mimic the legitimate www.buxmarkets.com. Clone firms are illegal entities that impersonate authorized financial companies in…
The U.K financial services regulator issued the payments provider a 166 notice late last year Source link
Amid growing regulatory scrutiny, the UK’s Financial Conduct Authority (FCA) rejected over 87% of cryptocurrency registration applications in its latest review, according to the regulator’s latest update. The high rejection rate highlights the challenges crypto firms face in meeting the UK’s stringent anti-money laundering (AML) requirements, which has forced some companies to leave the country….
Nexo, the platform that gained popularity by offering crypto lending products, has resumed new client registration in the United Kingdom today (Tuesday), the company announced. Ensuring Local Compliance The crypto platform detailed that before resuming onboarding, it upgraded its platform to meet all FCA guidelines. It has also partnered with Gateway 21 to ensure compliance…
The UK government announced this week that the Insolvency Service has secured a winding-up order against cryptocurrency advisory firm Amey Finance Academy Ltd at the High Court. The company, created by Desmond Amey in 2018, claimed to offer investment advice and financial education. However, complaints emerged that consumers lost money, and the Financial Conduct Authority…