Regulation· ★★· neutral·

UK's PRA orders Revolut to undergo external review of product approval process

  • —PRA invoked Section 166 FSMA over Revolut's product approval process
  • —External experts will review systems and report back; findings undisclosed
  • —Revolut plans unsecured personal loans of £2,000–25,000
  • —ECB previously curbed product launches at Revolut's European arm
Why it matters: The review does not cover Revolut's crypto services, but it adds to regulatory pressure on the fintech and could delay new product launches.
Source: TokenPost
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