Klarna, Zilch, Clearpay: What does the buy now pay later crackdown mean for UK fintech? May 20, 2025 The Treasury’s regulatory shakeup of buy now pay later services is set to reshape the UK fintech landscape and industry leaders have been left with questions. The UK government will enact legislation that brings buy now pay later firms under the scrutiny of the Financial Conduct Authority. This means firms such as Klarna and Clearpay [...]
Government to clamp down on ‘buy now pay later’ services such as Klarna and Clearpay May 19, 2025 Fintechs including Klarna and Clearpay providing ‘buy now pay later’ services will face fresh regulation by the Financial Conduct Authority (FCA) after years of wrangling and delays. New rules will require financial services providers to conduct affordability checks as part of efforts to make banking standards more consistent. Borrowers will also be able to make [...]
Sofas and season tickets: Inside the world of retail finance May 16, 2025 Retailing financing is on the up and as big banks steer away from the market, specialist lenders are cashing in. Fresh research from the finance and leasing association (FLA) showed consumer finance grew by 13 per cent in March 2025, compared to the year prior. The first quarter of 2025 saw a six per cent [...]
Analysts say ‘Buy’ Vanquis shares after payday loan turnaround May 15, 2025 Vanquis shares could finally be about to turn a corner, according to one group of City analysts. The shares peaked at more than 2,600p in 2015, and have since fallen by more than 96 per cent as Vanquis has endured soaring complaints and regulatory backlash thanks to its sub-prime lending and payday loan market exposure. [...]
FCA to rip up insurance rules in drive for growth May 14, 2025 The Financial Conduct Authority has outlined plans to ditch “outdated or duplicated” insurance rules in a bid to help firms reduce costs and drive competition. The City regulator’s fresh proposals would hand firms greater responsibility over reviewing the value of their product. This would involve companies using the risks and characteristics of each individual product [...]
Treasury meets Monzo and Revolut bosses amid plea for London listings May 13, 2025 The Treasury courted top UK fintech names including Monzo and Revolut on Tuesday in hopes of convincing the country’s most valuable unicorns into listing on the London Stock Exchange. Emma Reynolds, economic secretary to the Treasury, met with bosses from Monzo, Revolut, Clearscore and Oaknorth. Chief executive of the London Stock Exchange Dame Julia Hoggett [...]
Financial Conduct Authority plans to ‘put public back in IPO’ May 13, 2025 After a torrid few years for the London Stock Exchange, the Financial Conduct Authority is opening new avenues to boost initial public offerings (IPOs). The City regulator told industry stakeholders at the London Stock Exchange’s annual IPO Forum last week, it would “put the P back into IPO,” sources attending the event told City AM. [...]
Banks called on to slash mortgage borrowing costs May 7, 2025 The Financial Conduct Authority (FCA) has called on lenders to take informed risks in the mortgage market to improve consumer support. The City regulator has launched a consultation on mortgage rules which targets reducing the overall cost of borrowing through term reductions and access to cheaper products when remortgaging. It said discussions will include “consideration [...]
FCA vows to slash red tape by 70 per cent for investment firms April 24, 2025 The Financial Conduct Authority (FCA) has laid out new rules as it bows to government pressure to slash the amount of red tape on investment firms. The move, designed to streamline what types of funds investment firms must hold to absorb losses and maintain financial resilience during periods of stress, is expected to reduce the [...]
Ex-City minister calls for ‘urgent No10 summit’ with bosses and watchdogs April 23, 2025 A former City minister has called on the Prime Minister to convene an “urgent No10 summit” with the City of London and financial watchdogs in a bid to boost capital markets. During Prime Ministers’ Questions (PMQs), the Conservative MP John Glen asked Sir Keir Starmer to take the step to “steward our pension assets”. Glen, [...]