Tag Archives: ICO
FCA warns on risks of ‘ICOs’
The FCA has today made a statement on Initial Coin Offerings or ‘ICOs’. The FCA has said that ICOs, which can vary widely in design, are ‘very high-risk, speculative investments.’ They went further to say that ‘whether an ICO falls within the FCA’s regulatory boundaries or not can only be decided case by case.’ The […]
Hong Kong Securities and Futures Commission makes statement on initial coin offerings
Much like the recent investigative report from the SEC in the USA in relation to the DAO token issuance, in which it was determined that a token sale amounted to the issuance of securities, this statement from the SFC serves to explain that, depending on the facts and circumstances of an ICO, digital tokens that are […]
HM Treasury reports on the progress of Insurance Fraud Taskforce’s recommendations
HM Treasury has published a report on the progress made during 2016 on the original 26 recommendations put forwards by the Insurance Fraud Taskforce. The Taskforce was set up to investigate the causes of fraudulent behaviour and recommend solutions to reduce the level of insurance fraud in order to ultimately lower costs and protect the […]
ICO fines Moneysupermarket.com £80,000
ICO has fined Moneysupermarket.com Ltd £80,000 for sending 7.1 million unsolicited direct marketing emails over a period of ten days to update its customers on its Terms and Conditions. Crucially all the recipients of the emails had previously opted out of direct marketing, and Moneysupermarket sent the T&Cs by email which included a section noting the […]
ICO fines loan firm for nuisance texts
The Information Commissioner’s Office has fined Provident Personal Credit Ltd £80,000 for sending nearly 1 million unsolicited texts promoting personal loans. The company used third party affiliates to send the communications, to which the recipients had not consented.
ICO fines credit broker for unsolicited texts
The ICO has fined a credit broker £20,000 for sending unsolicited communications in breach of regulation 22 of the Privacy and Electronic Communications (EC Directive) Regulations 2003. Munee Hut markets its services partly through affiliates that send marketing texts that direct recipients to Munee Hut’s website. Between mid-2015 and spring 2016, 885 complaints were made about receipt […]
ICO and FCA hold big data use forum
The Information Commissioner’s Office (ICO) and FCA have published a summary of their forum on the use of Big Data in retail general insurance. The forum, held on 16 January 2017, was to engage with the insurance industry following stakeholder concerns raised as part of FCA’s call for input, on which it published a feedback statement […]
