Revolut faced orders to fix ‘deficiencies’ in product launches in Europe Fintech Revolut faced a regulatory slap-down from the European Central Bank last year as restrictions were placed on its operations in the continent. Europe’s most valuable fintech company had its permission to release new products across the 27 countries covered in the European Economic Area temporarily suspended last summer. The bank was instructed to rectify “deficiencies” [...]
Andrew Bailey steers push for Anthropic to meet global watchdog over Mythos Regulation The global financial watchdog is set to discuss the capabilities of the Mythos tool with Anthropic following a push from Bank of England governor Andrew Bailey. The Financial Stability Board, which brings together finance bigwigs from across the G20 nations, will be briefed on the vulnerabilities in the global financial system identified by Mythos. It [...]
Ministers to be handed ‘statutory powers’ to steer regulator’s growth agenda Regulation Ministers will be handed new “statutory powers” to steer UK watchdog’s growth agenda and define what it means in different “regulatory contexts“. In the King’s Speech, the government revealed its Regulating for Growth Bill – a cross-sector piece of legislation designed to beef up the UK’s regulatory system’s fostering of growth. The government’s report takes [...]
UK ministers tell UK businesses to ‘step up’ cyber defences May 12, 2026 Ministers have announced a new push to force firms to strengthen their cyber defences against AI-powered attacks, as Britain’s cyber industry has swelled to £14.7bn. According to new Department for Science, Innovation and Technology (DSIT) figures, Britain’s cyber sector saw a 11 per cent rise in the past twelve months, while the number of companies [...]
BT shares dip as Ofcom probes EE and Plusnet data April 29, 2026 Shares in telecoms giant BT Group slid on Wednesday after the regulator Ofcom launched a formal investigation into whether it provided inaccurate or incomplete customer service data through EE and Plusnet. The UK watchdog said it is looking into whether BT complied with legally binding information requests issued in December 2023, under the Communications Act, [...]
FCA launches investigation into collapsed shadow bank MFS March 20, 2026 The UK’s financial watchdog has begun a probe into shadow bank Market Financial Solutions following its collapse last month. The Financial Conduct Authority (FCA) said it had opened an enforcement investigation into the business. The regulator did not disclose the subject or terms of the investigation. The FCA said MFS is an “Annex 1 business”, [...]
FCA tightens cyber reporting rules as UK firms face rising risk March 18, 2026 The City watchdog has moved to tighten cyber and operational resilience rules for financial firms, as attacks grow more frequent and increasingly spread through third-party providers. The Financial Conduct Authority (FCA) confirmed new requirements to standardise how firms report incidents and manage third-party risks, in a bid to improve visibility over disruptions ranging from cyber [...]
Reddit fined £14m over children’s data protection failures February 24, 2026 Social media platform Reddit has been fined £14.47m by the Information Commissioner’s Office (ICO) after a probe found it unlawfully processed children’s personal information. The platform was also found to have failed to implement adequate age checks. The UK data protection regulator said the US-based company did not implement robust age assurance measures, meaning it [...]
Ofcom investigation launched into Grok AI deepfakes on X January 12, 2026 The media and online safety watchdog has announced an investigation into Elon Musk’s X, to determine whether the platform has done enough to protect Brits from explicit deepfakes generated by its Grok AI. Ofcom pointed to “deeply concerning reports of the Grok AI chatbot account on X being used to create and share undressed images [...]
Paypal becomes latest fintech to capitalise on Trump’s deregulation December 16, 2025 Paypal has its sights set on acquiring a banking licence in the US as it becomes the latest fintech aiming to jump on President Donald Trump’s deregulatory agenda. The payments giant on Monday said it had submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation to form Paypal Bank. [...]