Revolut and other financial technology companies need to be regulated more heavily, according to the boss of Ireland’s Financial Services Union . This comes amid concerns that some fast-growing companies in the sector are acting increasingly like banks without the same amount of oversight.
John O’Connell, the FSU’s secretary general, pointed to issues relating to high staff turnover and company culture at some fintechs as evidence that regulation in the sector needed to be “strong”.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Heavier regulation of fintechs like Revolut needed, union boss saysFinancial Services Union warns there should be more oversight of emerging firms in the financial technology sector as some regulators express concerns about their activities and company culture
Source: businessposthq - 🏆 8. / 71 Read more »
Bank of Ireland to open some branches tomorrow after online banking services crashBank of Ireland is to open several of its branches across the island of Ireland tomorrow after customers reported being unable to use its online banking services today
Source: thejournal_ie - 🏆 32. / 50 Read more »
Top tax firm Mazars to review matters of ‘grave financial concern’ at horseracing watchdogMove comes in wake of Irish Horseracing Regulatory Board revelations at Oireachtas Public Account Committee
Source: IrishTimes - 🏆 3. / 98 Read more »
Financial chief quits troubled Irish tech unicorn WorkhumanAmerican finance expert Scott Dussault has left the company, which recently laid off around 10 per cent of its 1,300 workers and froze staff pay
Source: businessposthq - 🏆 8. / 71 Read more »
Financial chief quits troubled Irish tech unicorn WorkhumanAmerican finance expert Scott Dussault has left the company, which recently laid off around 10 per cent of its 1,300 workers and froze staff pay
Source: businessposthq - 🏆 8. / 71 Read more »
‘Very unusual’ 160-year-old Limerick building extensively damaged in fireGardaí and fire services responded to the blaze at Sailors’ Home at about 1am on Saturday
Source: IrishTimes - 🏆 3. / 98 Read more »