Motonovo hikes motor finance provision as buyers circle Aldermore Banking Car finance firm Motonovo has ramped up its provisions for the motor finance scandal as top banks and private equity firms explore a takeover of its parent company Aldermore. The Cardiff-headquartered company recognised a £153.2m charge in its latest accounts for historical motor finance commissions. This was more than double the £60.6m recorded last year. [...]
£250m lawsuit against crypto firm Binance grows with 1000 new investors Crypto A thousand new UK-based retail investors have been added to a group legal claim against crypto trading platform Binace and its founder, alleging they were sold high-risk, complex products that did not have regulatory authorisation from the financial watchdog. There are now approximately 2,700 claimants in the case in England and Wales, with the total [...]
City watchdog begins legal action against loan notes firm Hunter Jones Markets The City watchdog has begun High Court proceedings against a loan notes firm and its chief executive, according to court filings, amid growing scrutiny of the high-risk instruments and their availability to retail investors. The Financial Conduct Authority (FCA) has initiated proceedings against Osborne Baldwin, which trades as both Hunter Jones and Hunter Jones Group, [...]
City watchdog targets London crypto traders in latest clampdown September 18, 2026 The City watchdog has targeted three London premises suspected of illegal peer-to-peer crypto trading as it increases its scrutiny of digital assets. In a joint operation with HMRC and the Metropolitan Police, the Financial Conduct Authority (FCA) said on Thursday it had issued three cease-and-desist letters to individuals trading through UK businesses, ordering them to [...]
Aldermore’s sale interest shows banks are over motor finance September 17, 2026 Lloyds, Nationwide and Investec are all tipped to be circling Aldemore as its South African over prepares a sale. Samuel Norman takes a look at the runners and riders and what it could do for the market. Has the banking industry finally moved on from motor finance? The number of suiters circling Aldermore suggest as [...]
Clean up or lawyer up: The FCA’s culture war gets real September 16, 2026 With the City watchdog empowered to penalise non-financial misconduct and fresh off a win at the Upper Tribunal, lawyers now expect to be flooded with work from businesses that are grappling with the focus on culture, as bullying, harassment, and serious misconduct are no longer just HR matters, writes Maria Ward-Brennan. The Financial Conduct Authority [...]
FCA bans former law firm owner for misusing £28m of client money September 15, 2026 The financial watchdog has banned the former owner of London-based law firm Kingly Solicitors from working in financial services after finding he allowed £28m of client money to be misused. The Financial Conduct Authority (FCA) said on Tuesday it has barred Nurul Miah, also known as Neil Mia and Neil Miah, the former owner of [...]
Crispin Odey loses appeal to overturn lifetime financial services ban September 14, 2026 Former hedge fund tycoon Crispin Odey has failed to overturn a £1.8m fine and lifetime ban from working in the financial services industry. The Financial Conduct Authority (FCA) earlier this year hit Odey with the fine and banned him from working in the industry after a series of historic sexual assault allegations from former female [...]
City lawyer pleads not guilty to insider dealing charges September 11, 2026 A City lawyer has pleaded not guilty to five counts of alleged insider dealing for trading in the assets of maternity fashion brand Seraphine Group. The Financial Conduct Authority (FCA) revealed in July that it charged Richard Bloomfield, 38, with allegedly using inside information he obtained while advising on the buyout of London-listed maternity brand [...]
‘Reckless’ pensions advice: Watchdog slaps ex-Quilter rep with huge fine September 3, 2026 The City watchdog has banned a former Quilter adviser from working in finance, accusing him of “recklessly betraying his responsibilities” by offering pensions advice he wasn’t qualified to give. The Financial Conduct Authority (FCA) has given Daniel Thomas – whose DPT Financial Solutions was an approved representative of FTSE 250 wealth manager Quilter – a [...]