Senior staff at financial services firms to have pay based on diversity performance July 7, 2021 Senior managers at financial services firms could have their renumeration based on their company’s diversity and inclusion performance under new rules announced today. The Financial Conduct Authority, Prudential Regulation Authority and the Bank of England are seeking feedback on proposals put forward to improve diversity and inclusion in financial services. “Linking progress on diversity and [...]
Having regained control from EU, MPs want to hand policing of the City over to regulators July 6, 2021 Brexit: Having regained control from EU, MPs want to hand policing of the City over to regulators
City watchdog rolls out ban on funeral provider cold calling July 5, 2021 The City watchdog has confirmed plans to ban cold calling by funeral plans providers as part of a wider crackdown on the industry. The Financial Conduct Authority (FCA) today unveiled new rules that companies will have to follow from 29 July 2022. In addition to the ban on cold calling, these include a guarantee that [...]
FCA begins listing rules consultation in bid to lure more fintechs to IPO in London July 5, 2021 FCA launches listing rules consultation in bid to lure more fintechs to IPO in London
FCA boss vows transformation after MPs slam historic ‘culture’ failings over mini-bond collapse June 24, 2021 The Financial Conduct Authority said it was embarking on a “wide-ranging transformation programme” after MPs lambasted it for historic failings relating to the collapse of London Capital & Finance (LCF). A report from the influential Treasury Select Committee of MPs said that a change in the FCA’s “culture” was required to protect consumers from a [...]
FCA tables new climate disclosure rules to tackle fossil fuel investment chains June 22, 2021 The UK’s financial watchdog has tabled new proposals on climate-related disclosure rules for listed companies and certain regulated firms in the UK today. As climate-conscious commitments and environmental disclosure climb in importance for investors and consumers alike, the Financial Conduct Authority’s (FCA) new rules help ensure climate-related risks are known across the investment chain. “The climate change [...]
Latest Crypto findings paint a positive and yet terrifying picture as dark underbelly lurks June 17, 2021 An estimated 2.3m adults hold cryptocurrencies, up from 1.9m last year, according to the City of London’s financial regulator. While ownership of cryptocurrencies has increased, understanding of them appears to have gone down, according to the findings from the Financial Conduct Authority, published earlier today. Attitudes towards cryptocurrencies, or cryptoassets, appear to have changed, according [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 16, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. CBRE board bags ex-BlackRock real estate lead A former head of global real estate at investment heavyweight BlackRock is set to join real estate services firm CBRE in June. Marcus Sperber [...]
City watchdog vows Big Tech crackdown over scam adverts June 15, 2021 The City watchdog has pledged to use post-Brexit powers to crack down on tech giants such as Google over online fraud. The Financial Conduct Authority (FCA) has warned platforms they must do more to block scam adverts following a surge in cases during the pandemic. The regulator added it would not hesitate to take tough [...]
Sub-prime lender Amigo warns of insolvency after court defeat June 1, 2021 Amigo Loans has said it faces insolvency after it suffered a major blow last week when a High Court judge refused to approve a compensation scheme that capped payments for historic complaints. In an update this morning, the sub-prime lender said it would not be pursuing an appeal following the High Court judgment. As a [...]