FCA fines Macquarie Bank for fictitious trades after ‘serious failings’ November 26, 2024 Macquarie Bank’s London branch has been slapped with a £13m fine for “serious failings” which allowed one of its employees to record 400 fictitious trades. The Financial Conduct Authority (FCA) penalised the firm based on activity between June 2020 and February 2022. Trader Travis Klein, based on Macquarie Bank Limited’s (MBL) London metals and bulks [...]
Monzo names new finance chief in hint at listing plans November 26, 2024 Monzo has appointed former Nubank executive Tom Oldham to be its chief financial officer as the digital challenger bank hinted at its IPO ambitions.
Monzo warns customers their accounts may not be as secure as possible November 13, 2024 Online challenger bank Monzo has issued a warning to customers that their accounts may not be as secure as possible. The bank has urged customers to upgrade their phone’s operating system by 31 October, 2025, when it will stop sending updates to its app on systems older than iOS 16 and Android 9. Monzo added [...]
Natwest shares hit 13-year high after broker upgrade November 4, 2024 Natwest shares jumped to a 13-year high on Monday after a leading broker upgraded the bank’s price target. Shares in the London-listed bank, formerly known as Royal Bank of Scotland Group (RBS), jumped over three per cent on Monday to just under 390p per share. The discernible jump came after analysts at Peel Hunt upgraded [...]
Wall Street lenders beat earnings estimates as investment banks rebound October 16, 2024 Morgan Stanley, Goldman Sachs, Bank of America and Citigroup all surpassed analysts' estimates for their third-quarter earnings, helped by renewed strength in their investment banks.
High Court: Standard Chartered Libor test case against investors kicks off September 27, 2024 Standard Chartered kicks off its legal case against a group of investors over transactions dating from the scandal-ridden Libor era
Revolut to launch retail wealth app in challenge to Robinhood and Etoro September 24, 2024 Revolut is launching a standalone app based on its wealth management offering as Europe’s most valuable fintech looks to challenge Robinhood and Etoro in the retail investor market. The Revolut Invest app will offer more than 4,000 financial instruments, including from US and European stocks, bonds, commodities and exchange-traded funds, the London-based company said. Equity [...]
New access to cash rules kick in for UK banks and building societies September 18, 2024 New rules from the UK's financial regulator to ensure access to cash have come into force, handing new powers to local communities and placing stricter requirements on banks looking to close branches.
Haldane is right – the Chancellor’s doom-mongering is dangerous September 18, 2024 The stories we tell ourselves matter in economics, writes Paul Ormerod
Bank of England makes ‘substantial amendments’ to proposed banking overhaul September 12, 2024 "The bottom line is that we have made substantial amendments to our proposals in response to consultation feedback and evidence," Phil Evans, director of prudential policy, said in a speech published on Thursday.