Barclays slapped with £42m fine for financial crime failings Banking Barclays has been hit with a £42m fine by the Financial Conduct Authority (FCA) for separate instances where the bank failed in its financial crime risk management. The City watchdog blasted Barclays for failing to check it had gathered “sufficient information to understand the money laundering risk” before it opened a client money account for [...]
FCA staff threaten industrial action over three-days-a-week office policy Business Union representatives for the UK’s financial watchdog the FCA have threatened industrial action if staff are made to come into the office more than two days a week. In an open letter to the board of the FCA, Unite the Union said more than 90 per cent of its members would take action if the [...]
Exclusive: Panmure Liberum to ‘reinvigorate’ City market with banking tie-up Banking Investment bank Panmure Liberum has joined forces with Nedbank in a push to expand their reach across equity capital markets and drive dual-listings across the UK and South Africa. London-headquartered Panmure will collaborate with Nedbank’s corporate and investment banking division to produce equity research across UK and South African markets. The deal aims to provide [...]
FCA plots regulatory bonfire to lower costs of raising capital July 15, 2025 The Financial Conduct Authority is to pare back its onerous capital raising rules as part of a regulatory bonfire aimed at helping firms grow faster. Under fresh rules set to take effect in January, the requirement to produce a prospectus for public secondary share raises will be upped from 20 per cent to 75 per [...]
Rachel Reeves eyes boost for first-time buyers with mortgage reforms July 15, 2025 Rachel Reeves will today unveil a fleet of reforms in a bid to boost home ownership as she plans to slash ‘financial red tape’. Speaking in Leeds ahead of her Mansion House address, the Chancellor will announce plans for the Prudential Regulation Authority (PRA) to increase high loan-to-income mortgages (over 4.5 times a buyer’s income) [...]
Natwest boss: No path to growth without financial services July 14, 2025 The boss of banking juggernaut Natwest has issued a final plea to Rachel Reeves on the eve of her Mansion House speech, urging the Chancellor to fully unleash financial services’ growth potential. Paul Thwaite, Natwest’s chief executive, said there was “no path to growth without [financial services]” as he called for Reeves to make key [...]
Monzo slapped with £21m fine by City regulator July 8, 2025 Monzo has been slapped with a £21m fine by the Financial Conduct Authority after “repeatedly” opening accounts for “high-risk” customers. The UK fintech was blasted by the City watchdog for failing to keep the pace of its crime control with its customer and product growth. Between August 2020 and June 2022, Monzo signed up over [...]
Revolut banking licence bid goes down to the wire as key deadline looms July 8, 2025 Revolut is facing a fresh regulatory headache in the UK amid mounting expectations it may miss a key deadline in the ongoing process to become a fully operational bank. The digital banking juggernaut received the green light for its UK banking licence from Britain’s banking watchdog last year after a three-year wait, which triggered a 12-month [...]
Personal guarantees ‘overuse’ holding UK growth back July 7, 2025 The “overuse” of personal guarantees in borrowing arrangements is holding businesses back and stifling UK growth, innovators have warned, with only a small minority of companies claiming they would borrow from banks with their personal savings or assets on the line. A new survey of some 1,400 small business owners by the Federation of Small [...]
Mansion House gives Rachel Reeves a chance to change the course July 4, 2025 Rachel Reeves has a chance to move from ambition to action at this year's Mansion House Speech. Lets hope she takes it, writes David Postings.