Banks could do more to support debanking victims, FCA finds September 4, 2024 The Financial Conduct Authority (FCA) has said banks could do more to support those who want an account, after finding that several providers could make it easier to apply for one. A new FCA report has urged banks to increase awareness of basic accounts that allow people to make and receive payments but do not [...]
FCA under pressure to close cases into senior management amid name and shame row September 2, 2024 The City watchdog is under pressure to punish more bosses for flouting its rules after new figures revealed it had closed only half the investigations opened over the past seven years. Under the watchdog’s senior manager’s regime, introduced in 2016 in response to the financial crisis, staff in positions of power at financial services firms [...]
City watchdog’s motor finance review drives up official complaints August 29, 2024 A review by the City regulator into now-banned commission arrangements on car loans has contributed to a surge in official complaints to the UK's financial ombudsman in recent months.
UK financial regulator to review pure protection insurance market August 28, 2024 The City watchdog has announced a probe into the sale of pure protection insurance products amid concerns that "competition is not working well in the market".
FCA goes six months without registering a single crypto firm amid criticism of tough regime August 27, 2024 The City watchdog has gone six months without registering a crypto firm, amid criticism that its tough approach to regulation poses a risk to the UK's competitiveness in digital assets.
FCA cracks down on unregulated crowd investment schemes August 26, 2024 The Financial Conduct Authority has begun a crackdown on crowd funding investment schemes that see investors diving into unregulated share offers. Odin, a service that helps private companies pool investments, has revealed that the regulator had told it to stop taking on new customers until it changes its operating model. “The FCA has come to [...]
Home REIT: Beleaguered trust targets lifting of trading ban August 23, 2024 Home REIT has laid out its plan to apply to the Financial Conduct Authority to restore the trading of its shares, as the beleaguered trust’s chair admitted facing “very significant challenges”. The trust was launched with the intention of providing social housing to the homeless, but has been pummelled with multiple scandals over the last [...]
Treasury and FCA worried by payments regulator’s fraud refund scheme August 22, 2024 The government and City watchdog have raised concerns over a fraud refund scheme from the UK payments regulator that firms have warned could do long-lasting damage to the industry, City A.M. understands.
FCA fires another warning shot at insurers over consumer failings August 21, 2024 The Financial Conduct Authority (FCA) has fired a warning shot at the insurance industry today amid concerns firms are flouting its stringent consumer duty rules and failing to deliver value for customers.
Premier League club stripped of licence by Financial Conduct Authority August 20, 2024 Premier League football club Wolves have had their right to offer credit brokering services removed by the Financial Conduct Authority. The regulator took the step of cancelling the club’s Part 4A permission on Friday after concluding that Wolves were not using it. Wolves had held the licence since November 2016 and were warned by the [...]