Klarna shares fall as banking transformation triggers wider losses November 18, 2025 Swedish fintech unicorn Klarna recorded steeper losses in the third-quarter as costs related to the firm’s transition to becoming a fully-fledged bank offset record revenue. The buy now, pay later firm – which has set its sights on becoming a digital bank – recorded a loss of $95m (£72m) for the three months ending 30 [...]
JP Jenkins secures Pisces licence as ‘discussions ongoing’ with rivals November 18, 2025 JP Jenkins has become the latest securities venue to secure a Pisces operator licence by the UK’s financial regulator as competition heats up to attract businesses to the new private market. The approval makes JP Jenkins the second company to have received a licence from the Financial Conduct Authority (FCA) after London Stock Exchange operator [...]
AI-powered regtech lands £2.1m to help banks dodge FCA fines November 13, 2025 An AI-powered regulation tech firm has landed £2.1m in funding to help banks avoid getting fines from the City watchdog. Adclear, which uses software to ensure lenders’ books are in order, has capped off a funding round which has included backing from Clearscore founder Dan Cobley and Coinbase’s UK managing director Keith Grose. With Adclear’s [...]
Bank of England relaxes stablecoin stance in ‘watershed’ rules change November 10, 2025 The Bank of England has relaxed its stance on stablecoin in a new consultation paper aimed at helping Britain grab a slice of the £200bn market. The central Bank has previously faced calls to “publicly walk back” on its position on digital assets over fears the UK was missing out on the market. But in [...]
Lloyds boss ‘concerned’ with motor finance impact on UK investability November 5, 2025 The boss of Lloyds Banking Group told has lawmakers there was a “deeply important” investability issue in the financial watchdog’s proposed motor finance redress scheme. Charlie Nunn said, in a session with the House of Lords Financial Services Regulation Committee on Wednesday, he was “concerned” about investability and sentiment towards the UK following the regulator’s redress. “Having a [...]
City watchdog extends motor finance consultation after backlash November 5, 2025 The City watchdog has extended its consultation for its motor finance redress scheme following mounting backlash from lenders and consumers. The Financial Conduct Authority (FCA) announced that it would push back the deadline – initially scheduled for 18 November – to 12 December at 5:00pm. The final criteria of the scheme is expected to be [...]
Vanquis warns of £7m motor finance hit if FCA does not change course November 5, 2025 Vanquis Banking Group has warned it may be forced to hike provisions for the motor finance scandal to £7m if the financial watchdog does not switch lanes on its redress scheme. The specialist lender said it recognised a £3m provision in its third-quarter results, which follows the Financial Conduct Authority (FCA) pledging an industry-wide redress [...]
Motor finance backlash mounts with calls to pull £4bn from lenders November 3, 2025 The financial watchdog is back in the hot seat as criticism of its controversial motor finance redress scheme continues to mount. A fresh report from the All-Party Parliamentary Group (APPG) on Fair Banking has blasted the City watchdog for a “£4.4bn billion gap” in the proposed scheme. The group accused the regulator of being “influenced [...]
Complaints to banks ombudsman fall after Treasury clamp down October 29, 2025 Complaints to the banking ombudsman have tumbled in the three months to September 2025 after the Treasury launched its own clamp down. The Financial Ombudsman Service (FOS) recorded 46,300 complaints in the quarter, down from 73,700 in the same period last year. In the three months to June, 68,000 complaints were recorded. The fall followed [...]
Transparency concerns as FCA makes short sellers anonymous October 28, 2025 Firms short-selling UK-quoted companies will no longer have to reveal their identities in the latest deregulation drive by the UK’s financial watchdog. The Financial Conduct Authority (FCA) is consulting on a rule change to suspend disclosures of the companies that hold a short position in listed businesses, instead only publishing the total short positions in [...]