Investment trusts celebrate move to reform cost disclosure rules September 19, 2024 The UK has finally exempted investment trusts from complying with cost disclosure requirements that industry experts say could unlock billions in investment. In a statement today, the government and Financial Conduct Authority said regulators would temporarily withdraw the requirements, which campaigners have argued force trusts to ‘double count’ their fees. While this is also the [...]
Close Brothers to sell asset management arm as motor finance bill looms September 19, 2024 Close Brothers' shares are down by around a third since the Financial Conduct Authority announced in January that it would review whether customers were overcharged via now-banned discretionary commission arrangements on car loans.
London Stock Exchange set to decline in coming years, FTSE boards warn September 19, 2024 Slightly more than half of FTSE 350 company boards believe the London Stock Exchange will decline in the coming years, according to a new survey, in a blow to the UK government's plans for capital markets reform.
UK banks giving savers better value but still ‘room for improvement’, FCA says September 18, 2024 The City regulator has said savers are an estimated £4bn better off following improvements to easy access rates in recent months, but still put pressure on banks to offer more value.
UK bank compensation scheme faces leadership vacuum after recruitment delays September 18, 2024 The institution that protects government-guaranteed deposits in failed banks is facing questions over its future leadership after multiple setbacks to recruiting a new chair and permanent chief executive, City A.M. can reveal.
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.
Close Brothers boss to take temporary medical leave of absence September 16, 2024 The bank said it would provide a further update "in due course". Its full year results will be announced on Thursday as planned.
Barclays calls on UK to ‘break down barriers’ keeping £430bn from capital markets September 11, 2024 Barclays has warned that UK capital markets are missing out on £430bn in cash deposits as it called on authorities to create a "more balanced environment" for banks to support potential investors.
City regulator charges first individual with running illegal crypto ATM network September 10, 2024 The City watchdog has brought its first charges against an individual for running a network of illegal cryptocurrency ATMs.
FCA clamps down on hundreds more City firms in ‘robust’ enforcement push September 5, 2024 The Financial Conduct Authority more than doubled the amount of companies it banned from working as regulated companies last year as it looks to beef up its enforcement action and clampdown on wrongdoing in the City.