Missing the red flags in UK payments service provider failures
Description
In this week’s Corylated podcast Rachel and Niece discuss yet another failed UK payment service provider and examine the UK Financial Conduct Authority’s recent track record supervising this market segment. As UK PSPs continue to fail, the FCA would like to speed up authorisations. Niece and Rachel wonder about these plans, as well as the lighter touch crypto regimes developing in the US and UK. Also, Niece tells Rachel about “strong views” aired at the recent US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) crypto roundtable!
Links
Complaints Commissioner’s report on Firm X
FCA payments improvement plan not fully implemented, failed firms’ customers £22.5mn out of pocket
Ziglu’s filings show early regulatory intervention
Fifth payments firm enters special administration under FCA’s watch
US TradFi criticises ‘innovation exemption’ policies
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