Breaking #Blockchain News: Fineqia (CSE: $FNQ.C) (OTC: $FNQQF) (FNQA.F) Accepted into the U.K. Financial Regulator's Sandbox Program
Breaking #Blockchain News:
Fineqia (CSE: $FNQ.C) (OTC: $FNQQF) (FNQA.F) Accepted into the U.K. Financial
Regulator's Sandbox Program
Fineqia to test the issuance and administration of
bonds backed by cryptoassets
London
- July 20, 2018 (Investorideas.com Newswire) Fineqia International Inc. (the
"Company" or "Fineqia") (CSE: FNQ.C) (OTC: FNQQF) (Frankfurt: FNQA), a company
with a digital platform that enables companies to issue and administer debt and
equity securities, is pleased to announce its U.K. subsidiary Fineqia Limited
has been accepted to participate in the fourth cohort of the Financial Conduct
Authority (FCA) Sandbox Regulatory Program.
Fineqia
joins other participating companies including top banks such as Barclays Plc,
HSBC Holdings Plc and the Royal Bank of Scotland Group Plc's NatWest division
as well as newer companies such as digital asset exchange platform BlockEx
Limited and blockchain insurance company Etherisc Limited.
Fineqia
Limited met the FCA Sandbox eligibility criteria and was among the 29 companies
accepted out of 69 applicants. It will develop and test the issuance and
administration of bonds backed by blockchain-based cryptoassets, such as
Bitcoin and Ethereum.
"This
helps us develop a new asset class within the regulatory protected environment
offered by the FCA Sandbox program," said Fineqia's CEO Bundeep Singh
Rangar. "It's testimony to the team's effort and commitment toward a
disciplined and compliant rollout of a new financial product. Worldwide demand
for borrowings against crypto holdings is increasing and with this test, we
intend to demonstrate our ability to successfully tap into this growing
market."
Fineqia
Limited will utilize a blockchain-based digital platform to automate all key
steps in the financial product lifecycle, such as term coordination, legal
documentation, deal subscription and ongoing administration in view of
facilitating secondary trading of this innovative financial product after
successful completion of the testing phase. Secured bonds will be more
efficiently and compliantly executed using a blockchain infrastructure with
cryptoassets used as collateral.
The
regulatory sandbox allows firms to test innovative products, services or
business models in a live market environment, while ensuring that appropriate
protections are in place. It is part of Innovate, an initiative kicked off in
2014 to promote competition in the interest of consumers. Since its inception
Innovate has had over 1,200 applications and has supported more than 500 firms.
The sandbox was a first for regulators worldwide, underlining the FCA's
commitment to innovation in financial services.
Christopher
Woolard, executive director of Strategy and Competition at the FCA, said:
"I
am pleased to say that this is the largest sandbox cohort to date with a record
number of applicants meeting our eligibility criteria. Cohort 4 has seen a
large increase in the number of firms testing wholesale propositions including
firms that are aiming to increase the efficiency of the capital-raising
process. Alongside these we can see significant use of distributed ledger
technology (DLT), some experimentation with cryptoassets which will help inform
our policy work and propositions aimed at helping lower income consumers."
The
FCA received 69 applications to Cohort 4 of the regulatory sandbox, an increase
on the number of applications to Cohort 3. Twenty-nine firms will proceed to
test.
The
regulator's announcement about its Cohort 4 and Fineqia's participation in it
can be viewed at https://www.fca.org.uk/news/press-releases/fca-reveals-fourth-round-successful-firms-its-regulatory-sandbox.
About Fineqia
International
Fineqia
International is a listed entity in the Canada (CSE: FNQ), US (OTC: FNQQF) and
Europe (Frankfurt: FNQA). Fineqia International outlines the Company’s
corporate governance, culture, processes and relations by which the Company and
its subsidiaries are controlled, directed and governed. Fineqia International
oversees and ensures the overall success, planning and growth of the Company
and all of its subsidiaries. It recently announced the incorporation of
blockchain technologies to achieve these objectives. For more information
visit: https://investors.fineqia.com/news
About Fineqia Limited
Fineqia
provides a platform and associated services to support security issuances and
manage administration of equity and debt securities. It acts as a broker
bringing an issuing company's securities to market, distributing and marketing
them as well as transparently highlighting the risks and objectively outlining
opportunities involved. For more information visit www.fineqia.com
About the FCA
The
Financial Conduct Authority is the conduct regulator for 58,000 financial
services firms and financial markets in the UK and the prudential regulator for
over 18,000 of those firms. https://www.fca.org.uk/
RISK WARNING
Investing
in start-ups and early stage businesses involves risks, including illiquidity,
lack of dividends, loss of investment and dilution, and it should be done only
as part of a diversified portfolio. Fineqia Ltd is targeted exclusively at
investors who are sufficiently sophisticated to understand these risks and make
their own investment decisions. You will only be able to invest via Fineqia Ltd
once you are registered as sufficiently sophisticated. This page is
communicated by Fineqia Ltd and has been approved as a financial promotion by
Kession Capital Ltd. Fineqia Ltd, is an appointed representative of Kession
Capital Ltd who are authorised and regulated by the Financial Conduct
Authority. Investment are not offers of guaranteed returns and investments can
only be made by members via Fineqia Ltd on the basis of information provided in
the pitches by the companies concerned. Fineqia Ltd takes no responsibility for
this information or for any recommendations or opinions made by the companies.
Your capital is at risk.
FORWARD-LOOKING
STATEMENTS
Some
statements in this release may contain forward-looking information (as defined
under applicable Canadian securities laws) ("forward-looking
statements"). All statements, other than of historical fact, that address
activities, events or developments that Fineqia (the "Company") believes,
expects or anticipates will or may occur in the future (including, without
limitation, statements regarding potential acquisitions and financings) are
forward-looking statements. Forward-looking statements are generally
identifiable by use of the words "may", "will",
"should", "continue", "expect",
"anticipate", "estimate", "believe",
"intend", "plan" or "project" or the negative of
these words or other variations on these words or comparable terminology.
Forward-looking statements are subject to a number of risks and uncertainties,
many of which are beyond the Company's ability to control or predict, that may
cause the actual results of the Company to differ materially from those
discussed in the forward-looking statements. Factors that could cause actual
results or events to differ materially from current expectations include, among
other things, without limitation, the failure to obtain sufficient financing,
and other risks disclosed in the Company's public disclosure record on file
with the relevant securities regulatory authorities. Any forward-looking
statement speaks only as of the date on which it is made except as may be
required by applicable securities laws. The Company disclaims any intent or
obligation to update any forward-looking statement except to the extent
required by applicable securities laws.
Fineqia
Limited (FRN:757772) is an appointed representative of Kession Capital Limited
(FRN:582160), which is authorised and regulated by the Financial Conduct
Authority in the UK.
SOURCE:
Fineqia International Inc.
Fineqia
International Inc. (CSE: FNQ) is a featured tech stock on Investorideas.com
Disclaimer/Disclosure: Investorideas.com
is a digital publisher of third party sourced news, articles and equity
research as well as creates original content, including video, interviews and
articles. Original content created by investorideas is protected by copyright
laws other than syndication rights. Our site does not make recommendations for
purchases or sale of stocks, services or products. Nothing on our sites should
be construed as an offer or solicitation to buy or sell products or securities.
All investment involves risk and possible loss of investment. This site is
currently compensated for news publication and distribution, social media and
marketing, content creation and more. Contact each company directly regarding
content and press release questions. Disclosure is posted for each compensated
news release, content published /created if required but otherwise the news was
not compensated for and was published for the sole interest of our readers and
followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure:
Fineqia International Inc. (CSE: FNQ) - paid PR, media, news publishing and
social media client on Investorideas effective January 24, 2018 for one year
Additional
info regarding BC Residents and global Investors: Effective September 15 2008 -
all BC investors should review all OTC and Pink sheet listed companies for
adherence in new disclosure filings and filing appropriate documents with
Sedar.
Read
for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors
must adhere to regulations of each country.
Comments
Post a Comment