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 [...]
FCA chief: We’re pursuing root and branch overhaul July 14, 2022 The City watchdog is undergoing a root and branch overhaul to “mitigate the shocks” on the horizon for Britain’s financial services sector, its chief said today. Speaking at Peterson Institute for International Economics in the US, Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), said the regulator is reshaping its oversight of the [...]
City watchdog tells banks to treat small businesses ‘fairly’ during cost-of-living crunch July 12, 2022 The UK’s financial watchdog has told Britain’s top banks to improve their treatment of struggling small business owners when collecting and recovering debts. The UK’s Financial Conduct Authority (FCA) said Britain’s banks should take action to ensure fair treatment of small and medium enterprise (SME) customers, after the watchdog uncovered repeated instances of failures during [...]
Top Hong Kong official to take over as FCA chair July 8, 2022 The Financial Conduct Authority has announced today that one of Hong Kong’s top financial officials will take over as chair of the watchdog next year.
FCA warns Brits to seek help as soon as possible over financial troubles July 6, 2022 The financial regulator has urged Brits to seek help as soon as possible if they are facing financial difficulties amid the spiralling cost of household bills. Research has suggested that many borrowers are missing out on available support, the Financial Conduct Authority (FCA) said on Wednesday. Half of those borrowers in financial difficulty who waited [...]
FCA brings in six directors and hires ‘almost 500’ to meet expanding remit July 5, 2022 The City watchdog said today it had bolstered its senior leadership team and hired almost 500 people in the past six months as it races to keep up with a rapidly expanding remit.