FCA: Cum-ex trader hit with £5.95m fine for ‘sham’ trading scheme March 18, 2024 The Financial Conduct Authority has slapped a so-called cum-ex trader with a £5.95m fine and banned him from working in financial services today for his role orchestrating a “sham” trading scheme.
Motor finance probe accelerates as FCA chief warns it’s ‘improbable we’ll find nothing’ March 14, 2024 The Financial Conduct Authority said it is looking to accelerate its probe into the motor finance market today as chief Nikhil Rathi warned that it is “improbable we will find nothing to report”.
FCA fines advice firm for pushing pensioners to drop defined benefit scheme March 11, 2024 Inspirational Financial Management, provided "unsuitable pension transfer advice" between 2015 and 2017 as they only collected fees if the pensioners transferred schemes.
London Stock Exchange to list crypto derivatives for institutional investors March 11, 2024 The London Stock Exchange has said it will be accepting applications for crypto exchange-traded notes (ETNs), after the Financial Conduct Authority lifted its ban on the instruments for institutional investors. ETNs are similar to exchange-traded funds (ETFs), but they rely on unsecured debt securities issued by a bank, meaning that they do not directly hold [...]
Bankers might need to disclose their Instagram accounts to the FCA: regulatory expert March 6, 2024 Speaking on Following the Rules podcast, Rob Mason, director at Global Relay and former FCA regulator, explained that the FCA have "absolutely committed" to doing more on non-financial misconduct.
Court pauses civil case against WealthTek so FCA can prioritise criminal probe March 4, 2024 Civil litigation against financial adviser Wealthtek and John Dance was ‘stayed’ by the High Court in order for the regulator to prioritise criminal investigation. The regulator took action against WealthTek last April in order to “protect consumers following the identification of serious regulatory and operational issues”. The Financial Conduct Authority (FCA) order the firm to [...]
City watchdog gives Bloomberg terminals and credit agencies clean-ish bill of health February 29, 2024 The FCA ruled out major interventions due to potential unintended consequences but admitted that some areas of the market do not "work well".
FCA under fire for ‘sinister’ plans to ‘name and shame’ firms February 28, 2024 City lawyers have launched a broadside on the Financial Conduct Authority today for what they call “sinister” plans to change enforcement rules that could unfairly damage the reputation of firms.
FCA urges Brits to ‘make money work harder’ by shopping around for savings rates February 27, 2024 Banks came under intense pressure from politicians and regulators last year for failing to pass through the Bank of England's rate hikes into savings products.
FCA set to name firms under investigation in plans to beef up enforcement February 27, 2024 The Financial Conduct Authority is planning to publicly name the companies it is investigating in a bid to deter firms from breaking the rules and encourage whistleblowers to come forward, according to reports.