FCA names interim FOS chair after abrupt leadership shake-up July 28, 2025 The Financial Conduct Authority has named a new interim chair of the Financial Ombudsman Service after its initial recruitment campaign “proved unsuccessful”. The City regulator appointed Liam Coleman as the watchdog’s temporary chair, which comes as controversy surrounds the departures of former leadership. Coleman will replace Baroness Zahida Manzoor who abruptly announced in February she [...]
Natwest boosts AI strategy with AWS and Accenture July 23, 2025 Natwest Group has announced a five-year collaboration with Amazon Web Services (AWS) and consultancy Accenture to accelerate its bank-wide data and AI transformation, ahead of its half-year earnings release scheduled for July 25. The agreement forms part of the group’s broader strategy to simplify its operations and offer a more personalised customer experience. By consolidating data currently housed [...]
FCA urges UK insurers to improve motor insurance claim handling July 22, 2025 UK insurers have been urged to improve their claim handling skills after the UK’s financial watchdog found “concerning evidence” of poor practice in the motor insurance market. The Financial Conduct Authority (FCA) said hikes in motor insurance premiums were down to how claims are handled by insurers, adding that “insufficient management information” was resulting in [...]
FCA softens remortgaging rules in dash for growth July 22, 2025 The Financial Conduct Authority (FCA) is set to remove red tape on remortgaging in the latest sign public bodies are tearing up their rulebooks to align with the government’s growth agenda. In new measures introduced by the City regulator, mortgage holders will be able to reduce the terms of their borrowing and switch to new [...]
City watchdog and HMRC ‘stepping up enforcement’ as number of raids surge July 17, 2025 The number of raids carried out by the City regulators upticked in the last two years, while the pressure on HMRC to investigate tax fraud is showing in the numbers
Financial services firms dealt tens of millions in regulatory fines July 17, 2025 While deregulation may be the political mood, UK watchdogs are sharpening their swords as banking giants bleed millions in regulatory fines. In under just ten days, the Financial Conduct Authority and Bank of England handed out £74.9m worth of fines to a trio of UK financial services firms. Leading the pack, and most recently, was [...]
FCA boss sounds alarm on financial warfare and debt levels July 16, 2025 Rising sovereign debt and the growing risk of an attack on Britain’s financial infrastructure are the two biggest threats to UK markets, the boss of the Financial Conduct Authority (FCA) has warned, as he issued a clarion call for more data on the trading of government bonds. Nikhil Rathi told peers that the danger to [...]
Barclays slapped with £42m fine for financial crime failings July 16, 2025 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 July 16, 2025 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 July 15, 2025 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 [...]