By Aaron Nicodemus2024-07-26T15:51:00
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
CB Payments Limited (CBPL), a crypto asset trading platform, repeatedly breached rules that should have prevented the firm from offering services to high-risk customers, the FCA said Thursday in a press release.
The FCA said the move represented the first enforcement action under powers granted by the Electronic Money Regulations 2011. The final fine amount represented a 30 percent reduction, in part due to the firm’s cooperation, the FCA said.
2024-11-12T20:55:00Z By Adrianne Appel
The U.K. Financial Conduct Authority has fined Metro Bank 16.6 million pounds (U.S. $21 million) for an alleged failure by its automated system to adequately monitor money laundering risks.
2024-10-02T18:22:00Z By Aaron Nicodemus
The U.K.’s Financial Conduct Authority fined Starling Bank, Britain’s first digital bank, nearly 29 million pounds (U.S. $38.5 million) for repeated failures related to onboarding high-risk customers.
2024-08-14T17:44:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority fined a Cyprus-based trading company more than 276,000 pounds (U.S. $354,000) for unfair customer treatment and providing unauthorized investment advice.
2025-07-31T18:47:00Z By Adrianne Appel
More than 50 people and 50 ships connected to a top Iranian official were added to the U.S. Treasury’s sanctions list on Wednesday, according to the Office of Foreign Assets Control.
2025-07-31T16:44:00Z By Adrianne Appel
Kentucky took aim at Chinese company Temu, alleging in a lawsuit that it counterfeited popular Kentucky-designed merchandise and violated customers’ privacy.
2025-07-30T17:56:00Z By Aly McDevitt
The Department of Labor is using poultry processing company Mar-Jac Poultry as an example of what will happen when companies repeatedly employ underage workers in hazardous conditions. Hint: Companies can’t pin the blame on staffing agencies.
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