Van insurance premiums surge to record highs as inflationary pressures bite August 4, 2022 Van insurance premiums have surged to record highs, after increasing for six consecutive months in a row, due to soaring inflation and widespread price hikes in response to new rules banning the practice of “price walking”. The cost of insuring a van increased by 13.6 per cent during the first six months of the year, [...]
UK’s FCA to create 100 jobs through launch of new Leeds offices August 2, 2022 The UK’s financial watchdog today set out plans to hire 100 new staff at its newly opening Leeds office as it looks to bolster its headcount this year and meet the demands of an expanding regulatory remit. The UK’s Financial Conduct Authority (FCA) announced it has signed a lease for premises on 6 Queen Street, [...]
UK financial watchdog cracks down on marketing of ‘high-risk’ financial products August 1, 2022 The UK’s financial watchdog has vowed to crack down on those using “unclear” and “misleading” information to sell risky investments after bringing in tough new rules around the marketing of high-risk financial products. The Financial Conduct Authority’s (FCA’s) “stronger” rules require firms to use clearer and more prominent risk warnings, and ban companies from [...]
FCA reveals major consumer regulation shake-up but delays deadlines after industry protest July 27, 2022 The UK’s top financial watchdog has revealed its plans to tighten protections for consumers today in the biggest package of regulatory reforms to hit the City in a decade.
Consumer Duty set to deliver ‘biggest regulatory overhaul in a decade’ for financial services July 26, 2022 City firms are braced for one of the biggest shake ups of UK financial services regulation in a decade this week as the UK’s top watchdog unveils its new Consumer Duty to ramp up protection of savers and retail investors.
FCA and Andrew Bailey slammed for failing to protect pension savers who were ripped off by poor advisors July 21, 2022 The City watchdog and its former head Andrew Bailey, nowadays the Bank of England’s chief, have come under fire for letting down British Steel pension savers who were ripped off by poor advice from companies they thought they could trust. The Financial Conduct Authority (FCA) did not protect the members of the British Steel pension [...]
FCA poised to take more ‘proactive’ approach despite capacity strains July 19, 2022 The UK’s top financial watchdog said it was preparing to take a more “proactive” approach to identifying new financial threats today as it races to recruit staff this year to meet its growing remit.
The City watchdog I chair is becoming more innovative – and assertive July 19, 2022 Richard Lloyd OBE is the interim chair of the Financial Conduct Authority Our annual report shows the Financial Conduct Authority continues to change. Becoming more innovative, assertive and adaptive. We are being tougher on firms that want to operate in the UK to make our markets safer. Last year one in five applicants didn’t [...]
Watchdog told of 650 covid breaches by senior City staff July 19, 2022 The UK’s top financial watchdog was notified of nearly 650 covid breaches by the City’s top brass during the pandemic as well as over 100 counts of bullying and racism, new figures have revealed.
US and UK to strengthen collaboration on crypto regulation, FCA says July 18, 2022 UK and US regulators will work together and deepen ties as they focus on crypto regulation, the Financial Conduct Authority’s CEO said. “One area of global focus is crypto, both opportunities and risks,” chief Nikhil Rathi said at the Peterson Institute for International Economics recently. “The U.S. and U.K. will deepen ties on crypto-asset regulation [...]