Regulator charges four over water scheme which defrauded investors out of £3.9m March 22, 2024 The FCA charged them with offences including multiple counts of conspiracy to commit fraud by false representation, while Sweeney and Simmons are also charged with money laundering allegations.
SJP shares spike after FCA warns hundreds of firms about poor practice March 20, 2024 This comes after the FCA launched a review into the issue, amid fears some employees were not getting the best pension deal after they retired.
FCA eyes fresh clampdown with ‘game changing’ consumer duty and beefed up AI March 19, 2024 The Financial Conduct Authority (FCA) said it is looking to tighten enforcement of its “game-changing” consumer duty rules and will ramp up its use of artificial intelligence today as it laid its priorities for the year ahead.
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".