Motor finance war of words heats up as City watchdog blasts law firm’s motives July 8, 2026 A blistering war of words has broken out between the City watchdog and the firms leading the consumer legal challenge to its £9bn motor finance scheme. The Financial Conduct Authority (FCA) has urged the Upper Tribunal to throw out the case entirely as it slammed Courmacs Legal and its client Consumer Voice, for a serious [...]
Finally, a regulator is ahead of the curve on AI July 8, 2026 More and more Brits are investing thanks to AI, so the FCA's proposal to embrace that makes complete sense, writes Carl Hazeley.
The FCA has finally woken up to the AI revolution July 7, 2026 The FCA-commissioned Mills Review marks a significant regulatory shift, moving away from a hands-off approach to AI agents making financial decisions, says Omar Salem Pablo Neruda, the Chilean Nobel laureate for literature, said “you can cut all the flowers but you cannot keep spring from coming”. The FCA has finally accepted this for the regulation of [...]
FCA eyes tougher AI rules as Brits turn to chatbots for financial advice July 6, 2026 The Financial Conduct Authority (FCA) has called for greater powers to regulate artificial intelligence after warning the UK’s financial rulebook must evolve to keep pace with the number of consumers turning to chatbots for advice on their money. In a new review published on Monday, the watchdog said AI will become “a defining force” in [...]
Close Brothers shares fall as motor finance scandal threatens worst returns in Europe July 6, 2026 Close Brothers shares tumbled on Monday morning after a damning broker downgrade warned the bank was poised to deliver the “lowest value-creation” of Europe’s top 50 banks. The FTSE 250 bank’s stock was down nearly nine per cent in early trading to 401.70p as investors scurried for the exit door. The loss came on the [...]
Nationwide rebel claims he was offered sweetener to drop boardroom bid July 6, 2026 A rebel Nationwide customer vying for a board seat at Britain’s biggest building society claimed it offered to help him land a directorship at another firm if he dropped his boardroom bid. James Sherwin-Smith, who is on the ballot at next week’s annual general meeting to join Nationwide’s board, told City AM he had a [...]
City watchdog suspends parts of £9bn motor finance scheme after industry backlash July 2, 2026 The UK’s financial watchdog has suspended parts of its under-fire £9bn motor finance redress scheme amid fierce backlash from industry and consumer groups. In a statement on Thursday, the Financial Conduct Authority (FCA) said the suspension will require firms to continue preparations for its scheme but avoid work that “may need to be repeated” if [...]
Forvis Mazars and top partner hit with £600,000 fine for audit failings July 2, 2026 The Financial Reporting Council (FRC) has hit accountancy giant Forvis Mazars and a top partner at the firm, David Allen, with a combined £610,537 for audit failings relating to a retail firm listed on the London Stock Exchange’s main market. The FRC said it has issued the fines following an investigation into both Forvis Mazars [...]
How the SpaceX IPO revealed a ‘back door’ into Britain’s capital markets June 29, 2026 The UK’s public offer platform regime was rolled out as part of a package of reforms designed to get capital flowing into British companies. Now SpaceX has used it to raise funding in the biggest IPO of all time – in New York. Maisie Grice asks whether the changes are working as intended. In January, [...]
FCA looks to check power of investment trust boards after Saba uproar June 26, 2026 The City watchdog is looking to restrict the power of some investment trust board members after criticism of its response to Saba Capital’s campaign against a group of UK funds. The Financial Conduct Authority has proposed a series of amendments to the UK listing rules for close-ended investment funds, better known as investment trusts, in [...]