9 April 2019
FCA’s Guidance on Cryptoassets – welcome clarity
“Cryptoassets have attracted significant and growing attention from consumers, markets, governments and regulators globally”, stated the FCA earlier this year in launching its consultation on its Guidance on Cryptoassests. Jill Lorimer has previously commented on the Cryptoassests guidance.
The aim of the Guidance is to “provide regulatory clarity for market participants carrying on activities in this space” and it appears to do just that.
1 February 2019
FCA has its knuckles rapped in Upper Tribunal costs decision
In a recently published decision of the Upper Tribunal (Tax and Chancery Chamber), the Financial Conduct Authority (FCA) has been ordered to pay a portion of the costs incurred by Alistair Burns, the ex-chief executive of collapsed IFA Tailormade, in relation to proceedings arising from his reference of the Authority’s decision to the Upper Tribunal. The Upper Tribunal had upheld the decision of the Authority to fine and ban Mr Burns, although it had reduced level of the fine imposed.
17 January 2019
FCA sharpens focus on crypto cowboys
The recent confirmation by the UK Financial Conduct Authority (FCA) that it is investigating 18 firms involved in the sale of crypto assets, such as Bitcoin, indicates a ramping up of regulatory focus on the controversial sector.