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.
As many as 20 finfluencers targeted in crackdown October 22, 2024 The Financial Conduct Authority is interviewing 20 ‘influencers’ under caution as it ramps up its scrutiny of those touting financial services products on social media. While the FCA was unable to name those targeted for an interview, it came after the regulator targeted a host of Love Island stars earlier this year for running unauthorised financial promotions. [...]
Volkswagen Finance fined by FCA for unfairly treating vulnerable customers October 21, 2024 The City regulator has fined Volkswagen's UK financial services arm £5.4m for its unfair treatment of customers in financial difficulty, which it said may have caused them harm.
FCA to review UK premium finance market amid price hike concerns October 16, 2024 The UK's financial regulator is to review Britain's premium finance market amid worries that consumers who borrow to pay for insurance may not be getting fair or competitive deals.
S&U: City regulator lifts collection restrictions on motor finance lender October 14, 2024 Specialist lender S&U said the City regulator agreed to remove collection process restrictions on its motor finance business after blaming the measures for a slide in profit this year.
TSB Bank handed huge fine for failing customers in arrears October 10, 2024 The financial watchdog has fined bank TSB almost £11m over its treatment of customers, but the penalty could have been even worse. TSB Bank will have to pay £10,910,500 after the Financial Conduct Authority (FCA) found it had failed to ensure customers in arrears were treated fairly. The FCA said it also didn’t have sufficient [...]
City regulator: Concentration poses risk to markets October 8, 2024 The boss of the Financial Conduct Authority (FCA) said “herding behaviour” and “market concentration” were posing new risks to the financial markets today as he warned investors to brace for volatility in the long term. Speaking at the regulator’s market conference in Westminster, Nikhil Rathi said excessive daily swings had become a bigger concern to [...]
Rachel Reeves promises to ‘revolutionise’ UK capital markets and boost London listings October 8, 2024 Ministers and regulators have made urgent efforts to inject more life into Britain's capital markets amid a dearth of IPO activity and heavy outflows from UK equity funds.