Number of claims management firms halves after FCA clampdown June 1, 2026 The number of claims management firms authorised by the UK’s financial watchdog has nearly halved since the beginning of the decade after the regulator “raised the bar” for firms in the sector. A Freedom of Information request by financial services consultancy Broadstone revealed 483 claims management companies (CMCs) operate in the sector, compared with 942 [...]
Small cap tech firm quits LSE to cut costs in latest market blow May 27, 2026 Small-cap semiconductor firm Nanoco Group is quitting the London Stock Exchange in a bid to save £700,000 a year, in the latest setback for Britain’s struggling public markets. The Manchester-based tech business said the annual costs of maintaining its listing had become too burdensome for a company of its size, as it blamed weak liquidity [...]
Cryptoasset approvals surge as FCA softens stance May 26, 2026 The approval rate for cryptoasset firm registrations has surged, City AM can reveal, in signs the UK’s financial watchdog is softening its stance towards the crypto industry. As many as 13 cryptoasset firm registrations were approved by the Financial Conduct Authority (FCA) in the year to April 2026, a more than doubling compared to 2024, [...]
‘Sounds too good to be true?’ City watchdog clamps down on social media insurance scams May 20, 2026 The Financial Conduct Authority is cracking down on insurance scams advertised on social media and messaging platforms after finding half of young drivers have purchased illegitimate insurance premiums this way. The regulator said nearly 40 per cent of drivers aged 17-25 are “unconfident” in spotting the signs of a fake insurance policy, meaning “thousands could [...]
UK finance workers weigh quitting over back-to-office mandates May 19, 2026 Financial services workers are weighing quitting their roles if their companies mandate office attendance amid a deepening feud between managers and employees. Nearly six in ten employees in the finance sector said requirements around their office presence is making them more likely to leave their role, according to new research from City recruiter Morgan McKinley. [...]
EY coughs up over £100m to settle NMC Health court conflict May 18, 2026 Big Four giant EY is understood to have paid over £100m to settle a High Court claim brought by former FTSE 100 company NMC Health that collapsed during a fraud scandal. Both EY and the healthcare provider reached a confidential agreement in February to settle the claims, which were brought four years ago against EY for [...]
Crispin Odey settles sexual assault claims ahead of trial May 14, 2026 Former hedge fund tycoon Crispin Odey has settled a string of sexual assault allegations brought against him just weeks ahead of a trial that was due next month. Odey had faced five personal injury claims against him brought by women who accused him of sexual assault. But he has settled four of the claims before [...]
Revolut bags watchdog approval to beef up UK wealth offering May 14, 2026 Revolut has received the regulatory green light to bulk up its wealth management offering, marking one of its first major expansions in the UK after bagging its banking licence. The $75bn juggernaut’s trading arm has secured a Variation of Permissions from the City watchdog, which allows the firm to broadened the scope of regulated activities [...]
‘Dual squeeze’: FCA approvals for e-money licences plummet May 13, 2026 The number of successful applicants for e-money licences has plummeted in the last few years raising further questions over a slow down in market growth. Fresh figures – revealed in a Freedom of Information request by financial regulation consultancy Pathlight Associates – showed just 35 applicants were able to bag an electric money institution (EMI) [...]
Directors of collapsed Carillion banned by accounting watchdog May 12, 2026 A pair of Carillion finance directors in post shortly before its collapse have been fined and banned by the accounting industry watchdog, bringing the curtain down on eight years of regulatory probes into one of the most notorious corporate failures in British history. Richard Adam – who served as the now-extinct contracting company’s finance director [...]