Revolut’s Product Approvals Face UK Regulatory Scrutiny
By PYMNTS
AI summary of the source article
The Bank of England’s Prudential Regulation Authority issued a Section 166 notice earlier this year to review Revolut’s process for approving new products and investigate risks surrounding the speed of its product launches.
Key facts
- The Bank of England’s Prudential Regulation Authority issued a Section 166 notice regarding Revolut earlier this year.
- Regulators are reviewing Revolut’s process for approving new products.
- The investigation targets risks associated with the speed of Revolut’s product launches.
Source excerpt · PYMNTS
British regulators are reportedly reviewing Revolut’s process for approving new products. The Bank of England’s Prudential Regulation Authority (PRA) issued what is known as a section 166 earlier this year to investigate risks surrounding the speed of Revolut’s product launches, the Financial Times (FT) reported Tuesday (Oct. 27). The report, citing sources familiar with the […] The post Revolut’s…