Financial whistleblower takes UK watchdog to court over claims of unfair dismissal March 23, 2022 A former employee of the UK’s Financial Conduct Authority has claimed he was unfairly fired by the watchdog, after he raised concerns about systemic issues in the runup to the 2008 financial crisis. Former FCA risk manager Walker Sigismund told a tribunal that he was unfairly fired by the financial regulator after he filed 27 [...]
FCA brings in consultants to tackle authorisation backlog as it races to recruit new staff February 23, 2022 The UK’s financial industry regulator has brought in consultants to help it tackle the backlog in new authorisations, as it pushes forwards in its efforts to recruit new staff. Speaking to the Treasury Committee, Sheldon Mills, executive director of the FCA, said the watchdog had hired consultants as it aims to cut the authorisation backlog, [...]
City watchdog FCA looking to hire hundreds of new staff to get grip on consumer credit market February 21, 2022 The financial services watchdog is recruiting for a number of senior roles in a push to expand its oversight and supervision of the City’s credit space. The Financial Conduct Authority, based in Stratford, is looking for a lead supervisor for credit and debt as well as a director for consumer finance. In the publicly available [...]
Redcentric looks forward after FCA prosecutes former finance chief for misleading investors February 14, 2022 IT services provider Redcentric has said it hopes to move on following the prosecution of a former top dog for misleading investors. A case led by the financial regulator culminated in the company’s former chief financial officer, Timothy Coleman, being found guilty of four charges relating to the making of false and misleading statements to [...]
UK’s top crypto chief calls out City watchdog for curbing innovation February 13, 2022 The City watchdog has come under fire from the chief of Britain’s biggest cryptocurrency firm after he suggested that the UK is falling behind its EU cousins. Peter Smith, the chief exec of Blockchain.com, told The Telegraph that the Financial Conduct Authority (FCA) had taken a “risk-management first approach” that came “at the expense of [...]
Money and mental health czar Richard Lloyd named FCA boss while search for Charles Randell successor kicks off February 4, 2022 The Treasury announced this afternoon that they have started the search for the next Chair of the FCA. While the search for Charles Randell’s permanent successor kicks off, Richard Lloyd OBE will act as interim chair of the FCA from 1 June, with Aidene Walsh will become interim chair of the PSR from 1 April. Richard Lloyd [...]
Staff at financial watchdog back action over pay February 1, 2022 Employees at the UK’s financial watchdog have voted to go on strike over proposed changes to pay and benefits at the agency. Unite the union said members who work at the Financial Conduct Authority (FCA) have voted overwhelmingly to take industrial action, with 87 per cent supporting the plans. This means that Unite can now [...]
Former Which? boss in line for top FCA job February 1, 2022 The former boss of consumer group Which? is in line to take over as interim chairman of the Financial Conduct Authority in a sign that a permanent appointment is still some way off.
Former Which? boss set to head up City watchdog as interim chair January 31, 2022 Former Which? chief is set to lead the City watchdog, as Britain's key economic regulators continue to be led by temporary leaders.
FCA requested to review buildings insurers as Gove says leaseholders hit with ‘rapidly escalating’ costs January 28, 2022 The financial services regulator has been requested to review the buildings insurance market for blocks of flats. In a letter to the regulator, housing minister Micheal Gove said he was “extremely concerned” to hear from leaseholders about their experience of “rapidly escalating” insurance premiums on high and medium-rise blocks. There have been cases where insurance [...]