financial conduct authority

Application of AI in Finance Causes Imbalance if “Unleashed Unfettered”, Warns UK Financial Watchdog

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[ad_1] Applying artificial intelligence (AI) to financial services must go hand-in-hand with better fraud prevention and resilience to hacking and outages, Britain’s Financial Conduct Authority (FCA) was expected to say on Wednesday. Nikhil Rathi, chief executive of the FCA, said in remarks made available to the media in advance of a speech, that he was … Read more

UK Financial Watchdog Stops 26 More Illegal Cryptocurrency ‘Machines’

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[ad_1] Britain’s Financial Conduct Authority said on Tuesday it has stopped 26 machines across the country for illegally offering cryptocurrencies, warning consumers they could lose all of their money. A member of the public paid a thousand pounds into a crypto ATM in Sheffield, northern England, in an attempt to buy cryptocurrencies, but no cryptocurrency … Read more

UK Unveils Tougher Rules for Crypto Sector, Will Curb Advertising With ‘Cooling Off’ Periods, Risk Warnings

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[ad_1] British consumers buying cryptoassets will get a 24-hour “cooling-off” period for the first time from October under tougher marketing rules unveiled by the financial regulator on Thursday. Cryptoassets, such as Bitcoin, have little direct regulation globally, but regulators are taking a closer look after the downfall of FTX last year, which left millions of … Read more