UK banks could limit buybacks as car loan scandal grows November 13, 2024 Some UK banks could be forced to reduce upcoming investor payouts, analysts have warned, as the Financial Conduct Authority mulls whether to expand a probe into now-banned car loan deals.
After fining Metro Bank and Starling, which challenger bank will the FCA target next? November 13, 2024 The Financial Conduct Authority has signalled that it is ready to take a hard line against challenger banks for financial crime failings after dishing out hefty fines to young lenders.
Fewer than half of FCA staff happy with pay amid allure of private sector November 12, 2024 Less than half of staff at the UK's financial regulator are happy with their pay, a survey has suggested, despite efforts to fend off the allure of private sector jobs.
Metro Bank given hefty fine by City regulator for financial crime failings November 12, 2024 The Financial Conduct Authority (FCA) said that Metro Bank had failed to adequately monitor over 60m transactions for money laundering risks between June 2016 and December 2020.
FCA fines director of collapsed insurance broker £1.1m over misusing funds November 11, 2024 The Financial Conduct Authority (FCA) has banned and fined a director of an insurance broker over misleading the regulator and misusing funds
FCA could spend £20m on car loan probe after shock court ruling November 7, 2024 The Financial Conduct Authority (FCA) could splash £20m on the first stage of its review into car loan commissions, City AM can reveal, reflecting the scale of a scandal that may see lenders forced to pay billions of pounds in compensation.
Motor finance industry in crisis mode after landmark court ruling November 1, 2024 Motor finance providers are scrambling to avoid a full-blown market meltdown after a landmark London court ruling on "secret" car loan commissions sparked chaos across the sector.
US investor revives controversial Revolut share offer after FCA setback October 28, 2024 A US private equity firm is pressing on with a controversial effort to grow its stake in Revolut at a heavy discount, City AM can reveal, after its previous offer was scuppered by the City regulator.
Sexism in the City ‘will never end’, says Helena Morrissey October 27, 2024 Sexism in UK financial services "will never end", City veteran and Tory peer Helena Morrissey has said, while poking holes in last week's bombshell FCA report on a survey of more than 1,000 firms.
Bullying and harassment cases rise at City firms, FCA finds October 25, 2024 There has been a sharp rise in non-financial misconduct at firms, according to a survey by the City regulator, but strikingly, the data revealed these companies took no action in more than half of investigations.