UK watchdog met with BNP Paribas’ HR team over handling of sexual discrimination complaint June 20, 2022 FRENCH Bank BNP Paribas came under active scrutiny from the UK’s financial watchdog over its alleged mishandling of complaints from one of its brokers that she was subject to years of sexual discrimination and bullying at the firm’s London offices. The UK’s Financial Conduct Authority (FCA) held a series of meeting with senior members of [...]
FCA urges lenders to ‘act now’ to protect consumers from cost of living crunch June 16, 2022 The UK’s top financial watchdog has written to UK lenders today urging them to “act now” to ensure they can protect consumers amidst a cost of living crunch this year.
Government announces overhaul of Consumer Credit Act to ‘keep pace with modern world’ June 16, 2022 The government has committed to a sweeping overhaul of the Consumer Credit Act today in a bid to modernise the framework for credit firms and shift more hands into the hands of regulators.
City watchdog convicted just two people for insider trading in the past five years June 13, 2022 The UK’s financial watchdog achieved just two successful convictions against individuals for insider trading over the past five years, according to The Times. New data recovered from the UK’s Financial Conduct Authority (FCA) via a freedom of information (FoI) request shows the watchdog secured just two successful convictions in the five years running from [...]
UK’s financial watchdog vows to crack down on greenwashing June 9, 2022 The UK’s financial watchdog has said it is “actively” monitoring the markets for instances of greenwashing, involving false and exaggerated claims around ESG. The Financial Conduct Authority (FCA) told City A.M. that it has “made it a priority that investors are given clear and reliable information about ESG products,” as the watchdog said it is [...]
New FCA rules to prevent management companies to benefit from claims linked to customers they disadvantaged June 7, 2022 New rules preventing claims management companies (CMCs) from being paid to help in cases where they are connected to a customer losing out in the first place will come into force next month. The changes, introduced from July 7, ban firms from carrying out regulated claims management activity in certain circumstances. Claims management “phoenixing” has [...]
Exclusive: FCA not ‘selling out’ on premium listings, which could spur biotech sector, argues City lawyer May 31, 2022 The FCA’s proposed reforms to the UK’s listing regime, published last week, could help spur the biotech and technology sectors, a senior City lawyer has told City A.M. In the plans, the FCA has outlined how it plans to make the rules companies must follow in order to be allowed to list their shares in the [...]
FCA pushes for reform of London’s listing regime in an attempt to boost growth: ‘A radical set of changes’ May 26, 2022 The City watchdog has outlined plans to reshape the two-tier structure of the London Stock Exchange’s main market today in a bid to simplify listing rules and tempt more fast-growth tech firms to come to market. The Financial Conduct Authority revealed proposals to do-away with the current split between a higher “premium” tier of the [...]
Insurance brokers could face caps on commissions as FCA reviews high rise insurance market May 10, 2022 Insurance brokers could face rules limiting commissions amid the City watchdog’s review into tower block insurance coverage. The Financial Conduct Authority (FCA) was asked to review the insurance market for blocks of flats earlier this year, after housing minister Micheal Gove said he was “extremely concerned” by accelerating costs faced by leaseholders. In an update, [...]
Unite lose bid to become recognised as official union at City watchdog the FCA May 10, 2022 An official arbitration committee has rejected Unite the Union’s bid to become recognised as the official trade union at the Financial Conduct Authority. Unite had applied to become recognised as the official union for the sake of collective bargaining, but this morning the Central Arbitration Committee (CAC) ruled the bid was not “admissible.” The decision [...]