UK fintech regulator is putting higher fines on the menu

Don’t be fooled, but as of April 1, 2019, complaints about the actions taken by UK fintech companies will be punished with far higher fines.

The UK’s Financial Conduct Authority (FCA) has confirmed that the Financial Ombudsman Service will soon be able to require financial services companies to pay significantly more compensation to consumers and businesses.

Andrew Bailey, FCA General Manager, says, “Consumers and small businesses are struggling with the cost and time it takes to run businesses …

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