Tag Archives: FCA

GambleAware urges UK Finance to get strict on Gambling Blockers

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GambleAware has this morning published insights from research it commissioned on public uptake and effectiveness of bank card ‘gambling blockers’. The charity sanctioned researchers from the University of Bristol’s ‘Personal Finance Research Centre (PFRC)‘ to evaluate the effectiveness of blockers and its potential as a tool to prevent gambling harms. The PFRC’s research estimated that at present 60% of UK …

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FCA suspends all Wirecard UK transactions and services

The UK’s Financial Conduct Authority (FCA) has enforced a number of restrictions on embattled Wirecard AG, following the digital payment processing firm’s decision to file for insolvency in its home market of Germany. Issuing a regulatory notice, the FCA stated that Wirecard UK can no longer carry any regulated market activities. Furthermore, the financial services regulatory body underlined that Wirecard …

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UK watchdog warns of “serious risk of harm” from spread-betting

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Britain’s financial watchdog has warned spread-betting firms of poor practices, following a review by the Financial Conduct Authority (FCA) related to the industry’s use of contracts for difference (CFD) A warning letter has stated consumers are “at serious risk of harm,” after finding that the majority of customers lost money through their trades. The regulator revealed that it found 76% …

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New UK anti money laundering watchdog OPBAS to be set up by 2018

The UK Government is set to get tougher on money laundering and criminal financing activities by creating new watchdog the ‘Office for Professional Body Anti-Money Laundering Supervision’ (OPBAS).  The body will act alongside the UK Financial Conduct Authority (FCA), as the government seeks to introduce new, stricter money laundering regulations to meet global finance standards. The government will aim to set …

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Playtech targets €50 million in share buyback programme

FTSE-listed gambling technology provider Playtech Plc has today informed investors that it plans to issue a 6 million ordinary share buyback programme, representing approximately 1.85% of the company’s equity. The share sale is valued at circa €50 million and will be conducted by investment bank Canaccord Genuity in accordance with FTSE rules. Confirming its planned buyback programme Playtech stated that …

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UK FCA approves Betcade as Authorised Payment Institution

Real money Android app store Betcade has confirmed that it has been approved an ‘Authorised Payment Institution’ for the UK by the Financial Conduct Authority (FCA). Updating the market, Betcade governance stated that its FCA approval market a significant milestone for its product which had been officially launched in the UK this May. Moving forward, the Betcade app store will …

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PMU separates online & retail horse racing liquidity

At the request of the French Competition Authority (FCA), state owned horse racing operator Paris Mutuel Urbain (PMU) will separate its wagering liquidity between its retail and digital operations. PMU will move to split its wagering liquidity from 10 December, with the operator creating two separate pools for customer bets. CEO Alain Bernard announced the changes undertaken by PMU wagering services …

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Playtech Plus500 deal at risk following further FCA delays

The decision by the UK Financial Conduct Authority (FCA) regarding Playtech’s $460 million acquisition of contract broker Plus500 has been pushed back to December. Playtech’s acquisition sees a further delay, having been stalled in September following UK regulatory delays, despite gaining approval from the Cyprus Securities and Exchange Commission. On Wednesday Plus500 governance issued a statement that the terms of …

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UK FCA approves Optimal Payments takeover of Skrill

Following a review of its $1.2 billion (£815 million) takeover of online payment provider Skrill Group, the UK Financial Conduct Authority (FCA) has approved Optimal Payments PLC (LSE) acquisition bid. Informing the market Optimal Payments governance stated that it would proceed with its full integration of Skrill Group operations, with a view to complete its takeover by 10 August. Issuing a …

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Optimal Payments eyes FTSE 250 entry

Optimal Payments a key transactions/payment processor for the online gambling industry is eyeing entry into the FTSE 250 index. The payments operator is set to move from the London AIM market to the FTSE index, once it has finalised its £800 million reverse takeover of main competitor Skrill. Optimal governance is confident that the payments operator has met all regulatory …

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